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CEO FOREWORD

Dear Colleagues,

We have begun the second half of the year having added several firms to our community and, consequently, to Qatar’s thriving business sector. These firms, represent key industries including digital and financial services.

Digitalisation and financial technology are crucial to creating a sustainable and inclusive economy, which we have always strived to achieve for Qatar and to promote globally. In the current environmental state of the world, we must do everything within our capacity, now, to help abate further adversity caused by inequality and climate breakdown.

Before we continue navigating these challenging times and creating more valuable opportunities for our stakeholders through strategic initiatives, dedication, and hard work, let me to take a quick look at some of our achievements in the last six months.

We attracted 152 companies to our platform in the last six months, a 12 per cent increase from the number of firms we registered during the same period the previous year. We also introduced the QFC Sustainable Sukuk and Bonds Framework to the market and implemented the amended Data Protection Regulations. These initiatives advance our efforts to align the local financial market ecosystem with international standard business processes and bolster our efforts to promote sustainability in the financial market.

Through Memoranda of Understanding (MoU), we added three international bodies as our partners, which include Malaysia Digital Economy Corporation (MDEC), International Financial Services Centres Authority (IFSCA) and Astana International Financial Centre Authority (AIFCA). These partnerships provide us with straightforward pathways to the markets where they operate and open more opportunities for us to introduce companies from these markets to Qatar’s rapidly growing economy. Future joint projects with these organisations will also build up our efforts to stimulate activities in our focus sectors and boost Qatar’s economy.

In addition, we signed an MoU with Bayt.com, an agreement that empowers the talent pool and entrepreneurs in Qatar and provides QFC firms access to Bayt network and support programmes, as well as with Founder Institute, Incorporated (FI) to help propel Qatar’s startup business environment.

Our event calendar was also full during the first half of the year. We hosted over 59 in-person and virtual events, including two roundtables in Berlin and Germany, encouraging discussions on global economic developments, emerging trends, and highlighting countless investment opportunities in Qatar.

In terms of engaging with the global community, QFC was invited to speak at several high-level international events, including The World Economic Forum Annual Meeting in Davos, where we talked about addressing environmental challenges in the context of finance. We also had the opportunity to speak at the Hannover Messe to discuss QFC’s value proposition and the Qatar Economic Forum, where we joined a panel that tackled disruption and sustainability in finance.

With continued dedication and focus on our objectives, I am confident that the second half of 2022 will be as productive and rewarding for QFC and our firms.

Sincerely,

Yousuf Mohamed Al-Jaida

Chief Executive Officer, Qatar Financial Centre

Welcome to the QFC Community

We are proud to welcome 25 new firms to the QFC platform in June 2022
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QFC News Highlights

QFC tells WEF 'time has come to address environmental, economic challenges

New orders, output signal 'record' improvement in Qatar non-oil economy: QFC

QFC appoints two Qataris to key leadership positions

QFC highlights Qatar's 'vast' investment prospects at Berlin and Munich

QFCRA and HBKU’s College of Law sign agreement

Qatar is an attractive home for investors: Official

Economic recovery continues

Local Business News Highlights

Qatar sees 273 per cent surge in FDI inbound projects in 2021

Qatar 2022 becomes first FIFA World Cup to achieve international sustainability certification

QCB FinTech strategy will strengthen Qatar’s regional leadership: Experts

Qatari Islamic finance assets up 20 per cent to QR629 billion in 2021

Qatar set to become a major player in the emerging green hydrogen revolution

FIFA World Cup will enhance Qatar’s position on world sports map: Turkish envoy

IPA Qatar report underlines key role of ESG in attracting FDI

New innovation centre to push growth of Qatar’s R&D sector

Qatar, Switzerland to see further strengthening of bilateral relations

International Business News Highlights

FDI inflow to GCC economies soar to $44 billion in 2021

Tech champions can help GCC to add $255 billion to regional GDP by 2030, says report

Cybersecurity industry expected to hit $300 billion by 2024, study shows

MENA startups raise $1.8 billion in first half of 2022

GCC plastic industry advances on circular economy amid challenges: GPCA

Global financial centres 'to be more green, digital and inclusive by 2030'

Inflation hits record 8.6 per cent for 19 countries using the euro

Global sukuk volumes set to slide in 2022 amid rising rates and expensive liquidity: S&P

EU lawmakers pass landmark tech rules; enforcement a worry

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World bank Logo square

World Bank

Qatar’s economy is expected to witness growth this year and is forecast to be the fastest growing in the GCC in 2023 and 2024. The real Gross Domestic Product is projected to grow by 4.9 per cent in 2022, followed by 4.5 per cent and 4.4 per cent in 2023 and 2024, respectively.
Global peace index

Global Peace Index

Qatar has topped the countries of the Middle East and North Africa region four years in a row in the Global Peace Index Report for 2022. The country ranked 23rd globally among 163 countries, advancing by six places over the previous year and securing an overall score of 1.530, above many developed countries.

Time Magazine

Doha is chosen as one of 'The World's Greatest Places of 2022' in a list consisting of 50 places around the globe. Doha, Qatar was picked for its World Cup wonders as the country gears up for the world’s biggest football tournament to kick off in November.

Emirates NBD

Qatar’s GDP has been forecast to grow at 5.1 per cent this year, which if realised, would mark the fastest pace of growth since 2014 and take the economy back above pre-pandemic 2019 levels for the first time.

Oxford Economics

Strength in Qatar’s non-oil sector will counterbalance the country’s oil sector weakness in 2022. Qatar's GDP grew at a 2.5 per cent rate in the first quarter of the year, up from 2.2 per cent in Q4, 2021.
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Migration stakeholders discuss strengthening cross regional collaboration between Africa and the Arab region to accelerate GCM implementation

The International Organization for Migration (IOM), the United Nations Economic Commission for Africa (ECA) and the Economic and Social Commission for Western Asia (ESCWA) organised a side event during the International Migration Review Forum (IMRF) recently to address cross-regional collaboration between the African and Arab regions on migration issues. The event was held virtually in coordination with the Governments of Kenya, Malawi, and Morocco, who were represented by high-level speakers.

Speakers at the event included representatives of UN Agencies and other stakeholders. The discussions focused on proposing concrete ideas to enhance cross-regional collaboration between the African and Arab region and the Global Compact on Migration (GCM) objective 16, which empowers migrants to realise full inclusion and social cohesion.


IOM signs a project implementation agreement with Qatar Charity


The International Organization for Migration (IOM) Mission in the State of Qatar signed an agreement with Qatar Charity on 23 June 2022 to provide educational services to Afghan children who were evacuated through the State of Qatar. These services will include teaching English and mathematics to at least 1,300-1,500 elementary and intermediate level children for an entire year. Adult education services will also be provided by Qatar Charity which will include basic English lessons.


IOM Qatar participated in a dialogue forum on refugees

IOM Qatar, represented by Shaiban Taqa, Project Officer, participated in a dialogue called “Protection of Refugees: Legal and Ethical Responsibilities", organised by the Human Rights Forum of the Al Jazeera Public Liberties and Human Rights Centre. Taga reviewed the challenges facing migrants who were forced to leave their places of residence due to crises and the efforts of IOM through its cadres to protect their rights.

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