QFC CEO Heads Qatari Start-Ups Delegation at World Economic Forum
Yousuf Mohamed Al-Jaida, Chief Executive Officer of the Qatar Financial Centre (QFC) Authority, one of the world's leading and fastest growing onshore business and financial centres, led a delegation of Qatari start-ups during the World Economic Forum's 12th Annual Meeting of the New Champions (AMNC).
Held from 18th to 20th September in Tianjin, China, the AMNC is the foremost global summit on innovation, science and technology, and promoting entrepreneurship in the global public interest. Established in 2007, the meeting convenes the next generation of fast-growing enterprises shaping the future of business and society, and leaders from major multinationals, government, media, academia and civil society.
The entrepreneurs that took part include Mohammed Al-Saad from Akly, a new food delivery app aimed at providing healthy menu options tailored to users, Khalid Al-Ali from Senseta, a world-leading data analytics and intelligence firm and Majed Lababidi from Droobi Health, a mobile app that helps diabetes patients improve their health, as well as offering healthcare providers real-time collaboration and decision making tools.
Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC Authority said: "I am delighted to have led the delegation of Qatar's entrepreneurs in the 12th Annual Meeting of the New Champions. Qatar and the QFC is committed to developing a self-sufficient, robust economy, which is aligned with the Qatar National Vision 2030. A central aspect of this self-sufficiency is entrepreneurship, and we are making great progress towards developing the entrepreneurial landscape in Doha. In August 2018, Qatar ranked first in the Arab World in the Global Entrepreneurship Index, a key indicator of innovation, growth and a healthy entrepreneurial ecosystem."
Al-Jaida added: "The QFC has made great strides in creating programmes and initiatives aimed at developing the local workforce with the necessary skills and experience to further contribute to and support in the transition towards a knowledge-based, self-sufficient, and robust economy. One example of this is the establishment of the Qatar Financial and Business Academy (QFBA), an entity fully committed to developing the business and finance skillset of Qatar's youth."
The QFC is an onshore jurisdiction, allowing companies to operate in and from Qatar within the QFC legal and tax environment. The QFC endeavours to promote Qatar as an attractive business destination. Companies that wish to establish a business in the QFC are guided throughout by a dedicated QFC relationship manager who assists in the process of obtaining a licence and offers support in matters related to operating a business in Qatar. QFC firms 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 tax treaty agreement network with 60+ countries.
In addition, the independent Employment Standards Office of the QFC embodies a unique Administrative Employment Dispute Resolution Centre accredited by the International Labour Organization (ILO), providing conciliation and adjudication services free of charge to help resolve workplace conflicts. The ESO is fully aligned with the Qatar National Vision 2030 and aspires to promote international best practices in the field of human capital.