The Investment Promotion Agency, an entity created specifically for Qatar, was launched Wednesday with the aim of further attracting foreign direct investment (FDI) in line with objectives set out in the Qatar National Vision 2030.
As part of its mandate to attract more FDI into Qatar, the Investment Promotion Agency (IPA) will aim to be a single and complete source for investment solutions in the State of Qatar by attracting FDI in all of the country’s priority sectors.
The entity will also pursue targeted, sector-specific investment promotion agendas and co-ordinate investment promotion and marketing activities with key stakeholders, as well as develop policy advisory.
HE the Minister of State and Qatar Free Zones Authority chairman Ahmad bin Mohamed al-Sayed
Investment Promotion Agency CEO Sheikh Ali Alwaleed al-Thani
Acting undersecretary for Trade Affairs Saleh Majid al-Khulaifi
Qatar Financial Centre CEO Yousuf Mohamed al-Jaida
Qatar Science and Technology Park executive director Yosouf Abdulrahman al-Salehi
The Advisory Board of the Investment Promotion Agency will be chaired by HE the Minister of Commerce and Industry Ali bin Ahmed al-Kuwari, and will include HE the Minister of State and Qatar Free Zones Authority chairman Ahmad bin Mohamed al-Sayed; Sheikh Ali Alwaleed al-Thani, representative of HE the Prime Minister’s Office; acting undersecretary for Trade Affairs Saleh Majid al-Khulaifi; Qatar Financial Centre CEO Yousuf Mohamed al-Jaida; and Qatar Science and Technology Park executive director Yosouf Abdulrahman al-Salehi.
Sheikh Ali Alwaleed al-Thani was also appointed as the chief executive officer (CEO) of the agency.
The members of the advisory board held their first meeting recently where they discussed the agency’s strategy, roadmap, and budget, as well as the key target sectors and incentives plan.
HE al-Kuwari, chairman of the agency’s advisory board, said: “Qatar is already an attractive hub for foreign direct investment. Launching the Investment Promotion Agency will add to Qatar’s efforts to further boost FDI into the country, and the agency will achieve this through a number of initiatives such as working with stakeholders to support international businesses wishing to set up operations in Qatar.”
He added: “We are committed to stimulating Qatar’s economic development by attracting foreign direct investment through a number of avenues. The Investment Promotion Agency will enhance these efforts by encouraging more international investors to set up in Qatar, leading the country into a new period of economic growth.”