The Qatar Financial Centre (QFC) will register media companies pre-approved by Media City Qatar (MCQ) with both the entities entering into a memorandum of understanding (MoU).
Under the agreement, the media companies will be licensed by both the QFC and MCQ.
The registration and licensing details will be recorded on the QFC platform. This partnership enables licensed companies to conduct business in Qatar according to MCQ’s permitted activities.
The QFC will facilitate all necessary governmental procedures and tax-related processes in accordance with the legal framework and regulations of Qatar. Meanwhile, MCQ will diligently oversee the companies’ compliance with the applicable regulations for media entities in Qatar.
“This strategic partnership will empower Media City to attract and license media companies, further enriching Qatar’s vibrant media ecosystem," said Sheikh Dr Abdulla bin Ali al-Thani, chairman, MCQ.
Highlighting that the MoU will set the stage for driving growth in the media industry and contribute to Qatar’s economic diversification; he said ,"We look forward to achieving MCQ's vision as an attractive destination for local, regional, and international media businesses and initiatives across various scales.”
Yousuf Mohamed al-Jaida, chief executive officer, QFC, underscored the importance of the MoU, as he said this partnership with Media City marks a significant step in fostering media growth in Qatar.
"Through this collaboration, we aim to streamline processes and provide a conducive environment for media companies to thrive in the country. Together with MCQ, we are poised to unlock exciting opportunities and drive innovation in the sector,” he said.
The partnership between the QFC and MCQ signifies a shared commitment to regulatory compliance, operational excellence, and fostering growth in the media sector.
Related Story