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Qatar Financial Centre report affirms investors’ confidence in digital sector with 25% growth

The growth report also highlights QFC’s efforts to increase investment flow into the country and diversify the economy.

[Source photo: Anvita Gupta/Fast Company Middle East]

The mid-year growth record of Qatar Financial Centre (QFC), an onshore financial and business center in the Middle East region, has indicated investor confidence in Qatar’s digital sector –  of the 152 firms registered on the QFC platform during the year’s first half, 25% were digital firms.

The high percentage of newly registered digital companies on the platform reflects QFC’s push to develop the sector. Of all the firms that joined the company during the same period, the finance industry witnessed 16% growth.

The mid-year growth record also affirms QFC’s continued efforts to increase investment flow into the country and diversify the economy. From January 1 to June 30, 2022, firms from 48 countries, mainly from the Middle East, Asia and Europe, registered with the QFC. These firms operate in different sectors, including media, sports, real estate, retail, logistics, health, education, and energy, besides digital and finance.

The QFC also introduced the GCC’s first sustainable framework for Sukuk and bonds in the first half of 2022. The framework integrates globally accepted principles with Qatar’s environmental and social objectives expressed in the Qatar National Vision 2030. 

QFC also witnessed developments in forging partnerships, having signed five Memoranda of Understanding (MoU) with international organizations such as Malaysia Digital Economy Corporation (MDEC), International Financial Services Centres Authority (IFSCA), Astana International Financial Centre Authority (AIFCA), Bayt.com, and Founder Institute, Incorporated (FI). 

“Our achievement in the last six months demonstrates QFC’s commitment to Qatar’s economic diversification and reinforces the adoption of internationally recognized frameworks for doing business. This growth also mirrors Qatar’s economic strength and resilience as many more firms recognize our platform and the Qatari market as a global business hub and an ideal location to expand in the region,” said Yousuf Mohamed Al-Jaida, CEO of QFC, in a statement.

To promote Qatar as a promising investment destination in the Middle East and engage the local and international business community in meaningful conversations, QFC hosted and attended 59 in-person and virtual events, including roundtables in Berlin and Munich. The events aimed to stimulate discussions on global economic developments, emerging trends, and the countless opportunities present in Qatar, particularly for companies operating in the finance, digital, sports and media sectors.

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