QFC’S Economic Impact Report Highlights its Significant Contribution to Qatar’s Economy

19 Dec 2020

The Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, in collaboration with the Embassy of the Republic of Poland in Doha and the Qatar-Poland Business Council (QPBC), organised a webinar on Qatar’s digital landscape.

 

Qatar is one of the fastest growing economies in the MENA region. In parallel, the country’s digital sector is rapidly growing, with its value projected to reach US$3.2bn worth of opportunities by 2023. Entitled “Qatar-Poland New Tech Forum”, the virtual event presented the investment opportunities in Qatar’s digital market to over 70 attendees, including several Polish companies.

 

Esteemed members of Qatar’s business and diplomatic communities spoke at the event, including Tomasz Sadzinski, Deputy Head of Mission, Embassy of the Republic of Poland in Doha; Daniel Dybala, President, Qatar Poland Business Council; and Abby Chan, Vice President, Business Development, QFC. 

 

The webinar also featured industry experts including Vladislav Vlaicu, Senior Manager ICT Industry and Business Development, Ooredoo Qatar, and Majd Abbar, National Technology Officer, Microsoft Middle East Cluster, who shared their respective organisations’ roles in Qatar's digital transformation. 

 

His Excellency Janusz Janke, Ambassador of the Republic of Poland to the State of Qatar, was also in attendance at this unique event.

 

QFC’s role and contribution to Qatar and its economy has evolved since the platform’s inception and continues to expand to this day.

Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC Authority

The report also highlights the increasing contributions of the Digital sector, which is one of QFC’s Strategy 2022 key target sectors.

Thaddeus Charles Malesa, Senior Advisor of Economics and Research at the Financial Sector Office

Abby Chan, Vice President, Business Development, QFC, said: “We are honoured to collaborate with the Embassy of the Republic of Poland in Doha and QPBC, once again, to facilitate promising business ventures for both Qatari and Polish companies."

 

“Qatar’s burgeoning digital market is rich with opportunities for new and established companies wishing to set up a presence in the region. QFC supports this growth by providing a platform for all forms of digital companies to operate in Qatar and expand to other markets.”   

 

Setting up or expanding a business in Qatar comes with many advantages, from entrepreneurship support for start-ups, billions worth of digital spending, streamlined business setup to advanced ICT infrastructure. It also adds to the economic relation between Poland and Qatar, which in 2019 reached a trade value of US$ 852.4 million. These advantages were also highlighted during the webinar for the benefit of the investors and companies in attendance.

 

Tomasz Sadzinski, Deputy Head of Mission, Embassy of the Republic of Poland in Doha, said: “The digital tech sector in Poland is vibrant and has been growing rapidly. In order to launch this forum, we have teamed up with QFC, Qatar-Poland Business Council as well as Ooredoo and Microsoft to create new opportunities for Polish businesses in Qatar. We are very happy with the level of support from QFC. Our successful forum will strengthen Polish-Qatari IT partnerships. And rest assured, more initiatives like this will follow.”

 

Sharing Microsoft’s experience as a major player in the IT sector in Qatar, Lana Khalaf, Country Manager, Microsoft Qatar said: “Qatar is an innovation powerhouse and has in recent years established itself as a global hub for investments. A range of initiatives by the government has contributed to a start-up friendly environment – a place where businesses can come, set up and grow with ease.” 

 

She further explained: “With more than 15 years in Qatar, Microsoft is committed to build the country’s competitiveness, by fostering a culture of tech-intensity – the ability to not only adopt new technology but to build digital capabilities.” 

 

Lana called upon companies eyeing the region for expansion, inviting them to choose Qatar as their gateway of choice, and there has never been a better time to invest here. Real GDP is set to grow 2.52% this year and average 2.73% growth over the subsequent four years.
QPBC is a non-profit organisation based in Doha, Qatar, committed to strengthening Qatari-Polish financial, commercial and cultural ties. It is active in Qatar and across the European Union. QPBC’s main objective is to be a unifying platform for both Polish and Qatari business interests, promote mutual understanding, and enhance bilateral relations.