Qatar making further improvements to its business environment
It has been a hugely positive start to the year in Qatar with the government announcing a sweeping review of legislation to boost productivity and foster a more conducive business environment as it seeks to incentivise and attract foreign direct investment (FDI), writes Neil Wilson, Managing Director of Sovereign PPG Corporate Services.
Qatar’s central challenge remains transitioning from public sector-led growth to positioning the private sector as a prime partner in driving sustainable development and economic diversification, as envisioned by Qatar’s ambitious National Vision 2030.
Last year Qatar was ranked by the Economist Intelligence Unit (EIU) as the country with the biggest improvement in the business environment index in the MENA region and fifth worldwide. It said Qatar has made notable advancements in its financing environment, positioning itself as a top destination for business.
In particular, the country has developed a robust financial sector with world-class banking and financial services. Reforms aimed at enhancing access to financing for SMEs and start-ups have been introduced. Qatar’s strategic investments in infrastructure and its commitment to diversifying its economy beyond hydrocarbons have also contributed to a more vibrant and supportive business ecosystem.
A key mechanism for growing the private sector is to optimise the country’s business environment to make it friendlier for both domestic and foreign investors. In January, Qatar’s new Minister of Commerce and Industry Sheikh Faisal bin Thani Al Thani announced plans to introduce three new laws – a bankruptcy law, a public private partnership (PPP) law and a new commercial registration law.
The bankruptcy law aims to strengthen investor confidence and streamline processes for financial restructuring, while the PPP law focuses on encouraging a greater level of collaboration between public sector and private enterprises. The commercial registration law will simplify business set-up and regulatory compliance on the mainland.
Sheikh Faisal said the government was looking at 27 laws and regulations across 17 government ministries that affect 500-plus activities. He expected the new bankruptcy and PPP laws to be drafted before the end of March.
These are exciting times in Qatar and Sovereign PPG is well positioned to provide the comprehensive advice and support to assist companies of all sizes to establish business operations successfully in Qatar, as well as to deliver the on-going administrative support to maximise opportunities and achieve long-term sustainability in the wider Gulf market.
Managing Director Sovereign PPG Corporate Services
Qatar sharpens its competitive edge
As one of the world’s largest exporters of liquified natural gas (LNG), Qatar has embarked on a series of reforms and investments in recent years as part of a long-term strategy, set out in Qatar National Vision 2030, to diversify its economy away from hydrocarbons, attract foreign direct investment (FDI) and secure a sustainable future.
Qatar has set a cumulative target of attracting USD100 billion in FDI by 2030, according to the latest version of its national development strategy published last year. The government is focusing on building an innovation-focused knowledge economy, achieving greater infrastructural and technological competitiveness, and cementing its position as a strategic commercial, financial and logistics hub.
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Arpita Akhanda named as Grand Prize Winner of the Sovereign Asian Art Prize 2025
The Sovereign Art Foundation (SAF) announced, on 24 March, that Arpita Akhanda had been selected by the judging panel as the winner of the USD30,000 Grand Prize from among the 35 artists shortlisted for the Sovereign Asian Art Prize 2025 for her for her woven artwork Dendritic Data lb.
Now based in Santiniketan in West Bengal, Arpita prefers being known as a memory collector. Her work is not limited to a singular medium and involves paper weavings, performances, installations, drawings and videos.
INTERNATIONAL RESIDENCY AND CITIZENSHIP PLANNING
Have you considered where you are going to spend your future and retire? You should!
You work hard to have a successful career or build your own business, you create wealth, you provide opportunities and a secure future for your family – and all with the intention that one day, you’ll be able to relax, pursue your interests and just focus on enjoying life.
As with all successful implementation strategies, planning is key. You need to consider where you might be resident, tax resident and/or hold citizenship to ensure that you and your dependants are set up securely and efficiently for the future but can also benefit from a broad range of personal, business and lifestyle opportunities today.
5 QUESTIONS WITH...
Vivian Leung – Associate Director, Business Development, Sovereign (Hong Kong)
Meet Vivian Leung, Associate Director of Business Development at Sovereign Hong Kong. With a background spanning the US and Asia, Vivian works closely with high-net-worth individuals across the PRC, helping them navigate cross-border wealth management, family trusts, and succession planning. Her client-centric approach and in-depth understanding of the region’s evolving financial landscape make her a trusted partner for families looking to safeguard and grow their wealth.
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