The figures shared highlight Qatar’s efforts in attracting FDI’s as part of the Third National Development Strategy by introducing policies that provided a better climate for investors.
Qatar has attracted $2.74bn (around QAR 9.99bn) in foreign direct investment (FDI) during 2024 through 241 projects, generating a total of 9,348 jobs, the Investment Promotion Agency Qatar (Invest Qatar) announced on Sunday.
The Qatari entity published the figures in its latest annual report, where it highlighted the growth of investments in the Gulf state.
“The results in this year’s report reaffirm our efforts to attract high-quality investments, strengthen economic resilience and enable private sector growth,” Sheikh Faisal bin Thani bin Faisal Al Thani, Qatar’s Minister of Commerce and Industry and Chairman of the Advisory Council, said in the report.
Electric power generation is among the key drivers of investments during the report’s period, accounting for the largest share of capital expenditure at 40.1 percent, amounting to $1.1bn (around QAR 4bn).
The other sectors include retail and wholesale trade, data processing and hosting, as well as scientific research and development, according to Invest Qatar.
“Through over 1,200 investor and stakeholder meetings, 120 fact-finding trips, the successful attraction of more than 30 companies, and the introduction of innovative digital tools like Ai.SHA, we have made strides in fostering investment,” Sheikh Ali Alwaleed Al-Thani, CEO of Invest Qatar, said in the report.
The figures shared highlight Qatar’s efforts in attracting FDI’s as part of the Third National Development Strategy by introducing policies that provided a better climate for investors.
Between 2019 and 2022 alone, Qatar recorded a 70 percent annual growth of FDI. Some of the policies introduced by the Gulf state to encourage FDI’s is the Foreign Investment Law (No. 1 of 2019) which enables foreign investors to have 100 percent ownership of companies.
Invest Qatar also detailed other factors that encourage FDI’s, including the Projects Monitor, which tracks projects that have been publicly announced since 2017. The projects have since generated more than 73,000 jobs and more than $50bn (around QAR $182.24bn) in capital expenditure.
Meanwhile, in 2024, Qatar climbed up to 11th place in the IMD World Competitiveness Index, while ranking 28th in the Global Economic Freedom Index.
The same year also saw the Gulf state ranking 14th in the Logistics Competence sub-index and 19th in the Logistics Infrastructure sub-index of the World Bank’s Logistics Performance Index.
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