Buoyed its achievements in 2022, which witnessed the country’s successful hosting of the FIFA World Cup, the Investment Promotion Agency Qatar (IPA Qatar) is looking at Q1 2023 as “a springboard to further success in another year.”
“Let us hope that the quarters ahead bring prosperity to investors and promise more success to Qatar,” IPA Qatar stated in its Fourth Quarter Newsletter, which enumerates the agency’s accomplishments during the period.
IPA Qatar stated: “The past few months have seen Qatar shine on the global stage as the host of the 2022 FIFA World Cup, bringing the world together in one city to experience the region’s welcoming hospitality and culture.”
While Qatar was in the global focus courtesy of a hectic World Cup schedule, IPA Qatar noted that it was equally busy in Q4 with the launch of three new ‘How to Guides’ for setting up business, hiring, and living in Qatar, as well as 12 new sectoral studies highlighting the many lucrative opportunities across sectors in the country.
“Our global outreach efforts took us to Asia to participate in the Singapore Week of Innovation and Technology (SWITCH). IPA Qatar hosted a panel discussion and an interactive booth, in collaboration with QFZA and Media City, underscoring the role of Qatari business and licensing platforms in supporting companies within Qatar’s business ecosystem.
“In an effort to give back to the community we serve, IPA Qatar employees participated in beach cleaning efforts near Al Zubarah, Qatar’s largest archaeological site. With the help of volunteers from the Doha Environmental Actions Project (DEAP), the IPA Qatar team removed hundreds of kilos of plastic, glass, and other trash from the beach next to the Unesco World Heritage Site in early November,” the newsletter stated.
The agency also noted that a major highlight of Q4 is Qatar’s surging economy, “which reflected greater resilience as Qatar entered a historic phase by organising the 2022 FIFA World Cup for the first time in the Middle East.”
Citing Fitch Solutions, IPA Qatar stated the country “will experience a ‘net positive impact’ resulting in a boost to its economy, trade relations, and investments while the world turns its focus to the region.”
IPA Qatar added: “Trying to leverage the opportunities offered by this grand sporting festival, our team has been working to promote Qatar’s supportive business climate among potential investors and partners.
“The Planning and Statistics Authority’s latest estimates of GDP for the second quarter of 2022 show solid growth of 6.3% y-o-y due to strong non-hydrocarbon sector growth of 9.7% y-o-y, namely in construction, trade, transportation, and real estate, a testament to the fertile investment environment of Qatar.”
IPA Qatar has noted that a major highlight of Q4 is Qatar’s surging economy, “which reflected greater resilience as Qatar entered a historic phase by organising the 2022 FIFA World Cup for the first time in the Middle East.”
