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The latest market trends, news updates and our latest events. All that you missed from the previous month and more.

CEO FOREWORD

Dear Colleagues,

 

 

I am pleased to inform you of a breakthrough we made in August, which is our first collaboration with a Polish organisation. We signed a Memorandum of Understanding with Digital Poland Foundation, expressing our mutual intent to support the growth of the digital sector in Poland and Qatar by stimulating the development of new technologies. Digital Poland Foundation has made significant headway in positioning Poland as a leading innovation hub, making it an ideal partner for advancing digital transformation in the country.

 

Regarding Qatar’s financial sector, our efforts in creating opportunities to establish Qatar as a centre for environmentally sustainable investments have led us to a collaboration with UBS A.G. Together, we aim to establish an investment fund as a vehicle to support and promote sustainability by serving industries such as energy storage, eco-transport, food security and environmentally friendly technology through sustainable venture capital financing. We expect this initiative to generate considerable benefits for Qatar’s businesses and investors, and future generations.

 

As part of our strategy to invariably engage with local and international business communities, we co-hosted the Pakistan-Qatar Trade Investment Roundtable in Qatar, which saw the participation of ministers and dignitaries from both countries, as well as local business leaders. This roundtable explored areas where the countries can expand trade and invest, which lead to strengthened diplomatic and economic relations.

 

We also participated in the 17th Kuala Lumpur Islamic Finance Forum as one of the main speakers represented by the Financial Sector Office. Attending the event allowed us to network with international key players in the Islamic finance market and aligned us with the latest issues and challenges in global Islamic finance. Such engagements help us form strategies to further develop the local Islamic finance market.

 

In addition, QFC organised a masterclass with HEC Paris titled “Reinventing HR Across Gender and Organisational Boundaries”. This session is part of a series of masterclasses that the QFC and HEC Paris will host to explore various leadership and human resource topics to foster healthy and productive employment relations in the QFC.

 

Finally, I am equally pleased to mention that the QFC recently sponsored a summer programme for youth, themed “Assets of the Future”, organised by Qatar Finance and Business Academy and Northumbria University. The programme, developed to introduce students to different careers in the financial sector, serves our Corporate Social Responsibility to empower youth while preparing future talents for the financial sector.

 

I look forward to relaying more news with you next month.

 

Sincerely,

Yousuf Mohamed Al-Jaida

Chief Executive Officer, Qatar Financial Centre

Welcome to the QFC Community

We are proud to welcome 26 new firms to the QFC platform in August 2022
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QFC News Highlights

QFC, Digital Poland Foundation sign pact to speed up new technologies’ development

Non-energy private sector continues to expand rapidly in July

QFC, AIFC sign MoU to develop and strengthen legal service regulations

Local Business News Highlights

Asia top destination of Qatari exports in 2021

Qatar initiates measures to curb rising inflation: Kamco Invest

Qatar’s GDP per capita seen to exceed $100,000 in 2026

Qatar ports witness steady annualised growth in general cargo, RORO in July

Qatar records QR124 billion as value of exports of local origin in Q2, 2022

Report shows Qatar above global average for active, nascent entrepreneurs

Qatar’s e-commerce market witnesses’ positive growth

FDI Markets: Qatar attracts 71 per cent of investments into Middle East in Q2 2022

Private sector plays key role in developing transport sector Qatar sees 273 per cent surge in FDI inbound projects in 2021

Qatar is addressing ESG to create sustainable economic model

LNG Heavyweight Qatar Sees Surplus Jump 12-Fold on Energy Profit

Qatari banks boast highest cover against stage 3 bad loans in GCC

International Business News Highlights

GCC needs to secure its investment landscape: Report

Eight largest Middle East SWFs surpass $3 trillion in combined total assets: Preqin

Inflation in GCC is ‘significantly lower’ amid economic recovery, Kamco Invest says

24 Mena IPOs raise $13.5 billion in first half of 2022

Mena records $42.6 billion M&A deals in H1 2022: EY

Middle East Producers Expect To Bank Additional $1.3 Trillion From Oil Exports

World food prices post biggest decline since 2008 in July

Global firms halt over $250 billion in financing plans this year

Global FDI Annual Report 2022: Volatility set to continue

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FocusEconomics

FocusEconomics

Qatar’s GDP outlook for 2022 is upbeat as elevated energy prices will be a key growth driver for the country’s economy. Qatar’s GDP will see a 4.5 per cent rise during 2022, which is up 0.1 percentage points from last month’s forecast, and 2.8 per cent growth in 2023.

Global Finance

Qatar has been ranked as the richest Arab country and the fourth wealthiest on a global scale. The per-capita GDP of a Qatari citizen was over $143,222 in 2014, it was ‘just’ $97,846 a year later, and to this day it remains barely above that level.

Oxford Economics

Qatar is expected to record a fiscal balance of 8.6 per cent of GDP this year and 8.8 per cent in 2023. The country's real GDP growth is expected to be 3.6 per cent this year and 3.5 per cent in 2023.

UNDP

Qatar has been ranked second globally in the “variable of industry and services value added” as a percentage of GDP within the economy indicator of the Global Knowledge Index (GKI) 2021

Arab Monetary Fund (AMF)

The Arab Monetary Fund (AMF) expects Qatar’s economy to grow by 4.4 per cent this year and 3.6 per cent in 2023, supported by the boom in activities related to the country’s hosting of the FIFA World Cup Qatar 2022, and the growth of non-hydrocarbon activities.
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Psychosocial Support Training Course held in Doha

 

 

IOM Mission in Qatar, Qatar Red Crescent Society (QRCS) and the International Committee of the Red Cross (ICRC) jointly held a five-day specialised training course in Doha on 14-18 August 2022. The training was dedicated to tackling different issues of providing protection, mental health and psychosocial support and restoring family links services in emergencies. Designed for frontline responders, the training course was the first of its kind that brought together IOM, QRCS and ICRC experts.

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