The number of operating factories in Qatar’s industrial sector has increased to 915 as of September (according to the Ministry of Commerce & Industry).
This growth has been fuelled in part due to the reforms of the government of the State of Qatar to stimulate the investment environment in the country.
Also, they have led to the country rapidly diversifying local and global supply chains while improving its logistics network with the aim to become one of the most advanced digital and logistical systems worldwide, connecting companies to global supply chains through advanced communications and transportation infrastructure.
The government has also been focusing on adjusting and amending the legislative environment by developing laws and regulations to attract investment. Such laws include regulating the investment of non-Qatari capital – which allows foreign investors up to 100% ownership in certain sectors. The establishment of the Investment Promotion Agency has allowed the government to streamline procedures and provide support to foreign investors.
In line with its long-term economic diversification strategy, Qatar seeks to promote and support its private sector. In this context, a law was issued regulating the partnership between the participants in the private and public sectors.
The Trade and Investment Framework Agreement between the State of Qatar and the United States from 2004 is a popular example. Whereas, the total trade is now 8 times more than it was 16 years ago and twice the value of 2017. The nation has maintained a resilient, diversified and globally connected economy during this time.
Qatar is keen to strengthen ties with the United States and many other countries and regions, particularly in the development of legislative frameworks which will protect intellectual property and provide assurance for investors.