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Qatar Achieves Boom in Foreign Direct Investment in 2022

The Investment Promotion Agency Qatar (IPA Qatar) revealed that the State of Qatar achieved a surge in foreign direct investment (FDI), as it attracted USD 29.78 billion in 2022.

The IPA annual report for 2022 said that backed by the country’s strong and stable economic growth and attractive investment prospects, 135 new FDI projects were recorded, creating 13,972 new jobs in 2022. This represents almost 25 times the value of FDI projects from the year before and a doubling of jobs created compared to 2021.

The new jobs spanned across diverse sectors, including the oil and gas, software and IT, as well as business services and automotive OEM sectors. The report further reveals that over 800 new foreign commercial establishments were initiated across the business licensing platforms.

HE Minister of Commerce and Industry and Chairperson of IPA Qatar Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al-Thani said: “last year saw us forge ahead on multiple fronts and across sectors and geographies. It has demonstrated the resilience of the countrys economy, established through a long-term strategy and decades of prudent investments. This year also offered invaluable opportunities for us to spotlight Qatar’s unceasing potential as an investment destination of choice and to further our engagement with partners and stakeholders worldwide.” For his part, HE CEO of IPA Qatar Sheikh Ali Alwaleed Al-Thani said: “2022 was a solid steppingstone for IPA Qatar, marked by substantial growth and deepened engagement with the international investment community, that saw us partner with numerous organizations in line with Qatars economic diversification efforts. We continue to improve and develop our services to make the Invest Qatar brand an embodiment of excellence and a long-term partner for investors. Building on last year’s successes, I am confident that we will support prospective investors into Qatar through a growing number of opportunities in 2023 and beyond.” (MORE)

Source: Qatar News Agency