QFC Discusses Fourth Industrial Revolution At WEF’s Annual Meeting of the New Champions

7 Jul 2019

The Qatar Financial Centre (QFC), one of the world's leading and fastest growing onshore business and financial centres, recently participated at the World Economic Forum's Annual Meeting of the New Champions, under the theme 'Leadership 4.0: Succeeding in a New Era of Globalization', in Dalian, China.

Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC Authority and Sheikha Alanoud Bint Hamad Al-Thani, Managing Director, Business Development, QFC Authority, joined high-profile business leaders from around the world in roundtable discussions that addressed the future of investing in the fourth industrial revolution as well as, alternative investment strategies that facilitate economic diversification.

Qatar and the QFC are committed to sustainable economic development which remains a key national priority especially as the global economy transforms through the fourth industrial revolution.

While digitalisation of the economy offers unique challenges, it also affords immense business opportunities across industries ranging from fintech to sports, which is why the QFC has made these sectors a strategic focus.

Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC

Al-Jaida added: "The Annual Meeting of the New Champions provides a unique opportunity to address the international challenges and opportunities that characterise the global landscape today by bringing together international thought leaders and entrepreneurs to discuss innovation and other important topics."

Established in 2007, the Annual Meeting of the New Champions is held in China. The event brings together 1,500 participants from 'Global Growth Companies', primarily from rapidly growing emerging countries such as China, India, Russia, Mexico, and Brazil, but also includes companies from developed countries, as well as the next generation of global leaders and technology pioneers from around the globe.

The industrial revolution will continue to drastically transform the world of work and business, which is why it is imperative to actively anticipate these technological and economic shifts.

As such, alternative investment strategies must be explored in order to ensure ongoing economic diversification, which has been one of the key mandates of the Qatar Financial Centre since its inception.

Sheikha Alanoud Bint Hamad Al-Thani, Managing Director, Business Development, QFC

Al-Thani added: "Understanding the new players that are disrupting existing and established industries is equally important in order to weather the global changes, which is why the Annual Meeting of the New Champions is especially important."

The QFC is an onshore jurisdiction that allows registered companies to enjoy competitive benefits, such as working within a legal environment based on English common law, the right to trade in any currency, up to 100% foreign ownership, 100% repatriation of profits, 10% corporate tax on locally sourced profits, and an extensive double taxation avoidance agreement network with 81 countries.

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