VOICES OF LEADERS COUNTRY PROFILES
QATAR “
“
The World’s Rising Star
Voices of Leaders Country Profiles | Qatar
Contents 1 Overview 2 Investment Climate 3 Business Incentives 4 Ease of Doing Business 5 Featured OBPs 6 Video 7 Events
2
Voices of Leaders Country Profiles | Qatar
1 Overview The State of Qatar is one of the world’s fastest growing economies, reaching a nominal GDP of around USD 173 billion in 2011 according to the Qatar Statistics Authority (QSA). In 2011 Qatar was the second’s wealthiest nation by per capita GDP. With an abundance of natural resources, legal liberalization, and economic diversification, its burgeoning economy represents good opportunities for foreign investors. The main areas of investment in the State of Qatar include
3
construction, oil and gas, transport and logistics, education, financial services, and legal services. There are other investment opportunities in other developing and growing sectors including ICT, sport, leisure and healthcare. Qatar has attracted an estimated $100 billion in investment, with approximately $60-70 billion coming from the U.S in the energy sector. It is estimated that Qatar will invest over $120 billion in the energy sector in the next ten years.
Voices of Leaders Country Profiles | Qatar
2 Investment Climate Facts & Figures* Official Country Name Head of Government Major Cities Main Languages Population Area Main Religions Currency Main Economic Sectors GDP per Capita Main Imports Main Exports
State of Qatar Sheikh Tamim bin Hamad al-Thani (Emir) Doha (capital) Arabic (official) 2,123,160 11,437 km2 Islam Qatari Riyal (QAR) 1 QAR = 0.27 US Dollar Oil/Gas $102,100 (USD) $39.58 billion | machinery and transport equipment, food, chemicals $12.7 billion | liquefied natural gas (LNG), petroleum products, fertilizers, steel
*Sources: CIA World Factbook, Ease of Doing Business Index, BBC News: Country, Ministry of Foreign Affairs: Investment Incentives, Qatar Sustainability Assessment System: Qatar Education
4
Voices of Leaders Country Profiles | Qatar
Business 3 Incentives What incentives are there for investors and business-owners seeking to enter Qatar?
Description 1
Low electricity, water and gas rates
2
Nominal lease rate of 5 Qatari Riyal per square meter per year for industrial land for first 3 years
3
Exemption from import taxes on heavy duty machinery, raw material, and spare parts
4
Unlimited quantities of imported materials
5
No restrictions on money exchange and profit transfers abroad
6
Flexible regulation for importing skilled and unskilled workforce
7
Law No. 13 for 2000 on non-Qatari capital investment, non-Qatari investors can invest in all fields with a shareholding of 49 percent and a shareholding of 100 percent in specific sectors
8
Foreign investors are capable of investing in all national economy sectors
9
Foreign investors have the right to import necessary items for his investment project’s establishment, operation or expansion
10
Assistance with the reception of loans from bank of industrial development and other financial organizations for licensed industrial projects
*Source: Ministry of Foreign Affairs: Investment Incentives, http://www.mofa.gov.qa/en/Qatar/Pages/InvestmentIncentives.aspx
5
Voices of Leaders Country Profiles | Qatar
Ease of 4 Doing Business World Bank Doing Business Report 2014 Procedure to start a business in Qatar: No.
Description
Time Span
Cost
1
Reserve a unique company name at the Ministry of Business and Trade
Less than one day
QAR 1000
2
Obtain the approval of the Commercial Companies Inspection Department on the articles of association
1 day
QAR 1500
3
Open bank account and deposit the minimum capital
1 day
No charge
4
Authenticate the Articles of Association at the Ministry of Justice (one-stop-shop counter at the Ministry of Business and Trade)
1 day
Varies
*5
Register with the Commercial Registry and the Chamber of Commerce and Industry at the one-stop-shop of the Ministry of Business and Trade
1 day
Varies
*6
Obtain the trade and signage licenses from the Municipality of Doha (one-stop-shop counter at the Ministry of Business and Trade)
1 day
Varies
7
Register for taxes and obtain a Tax Identification number (TIN)
1 day
No charge
8
Make a company seal
2 days
QAR 150
*Source: Doing Business, http://www.doingbusiness.org/data/exploreeconomies/qatar/
Ranked #2 worldwide in Paying Taxes Doing Business 2014, World Bank
6
Voices of Leaders Country Profiles | Qatar
5 Featured OBPs Qatar Fuel
Sector Oil/Gas Year Founded 2002 Description Qatar Fuel (WOQOD) is a downstream oil storage, distribution and marketing company, formed in 2002 as a joint stock company listed on the Qatar Exchange.
WOQOD is exclusively responsible for the distribution of fuel needs within Qatar. This includes diesel, gasoline and aviation fuel. The company also trades in bunker fuels, ship-to- ship bunkering within Qatari waters, bitumen importation and distribution, LPG for cooking, and own-branded-lubricants. In addition, it builds modern branded service stations across Qatar. WOQOD owns the subsidiaries: Qatar Jet Fuel Company (Q-JET), WOQOD Vehicle Inspection (FAHES), WOQOD Marine Services and WOQOD International for Foreign Investment. Full OBP Website
Sector Business Services Year Founded 1962 Description Al Shaab Group has Gettco International which is one of the leading distributors in Qatar dealing with food & consumer products. Al Shaab group also deals with various kinds of car services owning petrol station all around Qatar and distributing the best car paints brands and material. Furthermore, Al Shaab Group owns QTG & COMTECH (Telecommunication companies with contracting), Motions Design for branding and advertising, and Doha Toys Town being the first Air-conditioned amusement park for kids.
Mr. Mohamed Khalifa Turki Al-Sobai Vice Chairman & Managing Director
Al Shaab Group
Full OBP Website Samir Deeb Issa CEO
7
Voices of Leaders Country Profiles | Qatar
6 Video Click here for the Voices of Qatar Media Room
8
Voices of Leaders Country Profiles | Qatar
7 Events Click here for the Voices of Qatar Event Calendar
9
events Hundreds of the world’s top financial minds came together for a day and a half of discourse and debate at RedMoney Events’ Islamic Finance News (IFN) Forum Europe in Luxembourg. Businesses and professionals from the United States to Qatar descended on this landlocked central European country in late June, eager to share their knowledge of Islamic finance, a rapidly burgeoning sector that bridges the gap between contemporary investment principles and the teachings of Islam. The day began with a brief address from Luxembourg Finance Minister Pierre Gramegna. A long-time European-based diplomat and businessman, Gramegna praised the Islamic finance industry, adding that Luxembourg has always been a haven for capital market instruments that adhere to Islamic law. These devices are also known as “sukuk”. “We are the number one place for listing sukuk(s) here in Luxembourg… currently 16 sukuks have already been listed here…We are also the third largest center for sharia-compliant investment funds, just behind Malaysia and Saudi Arabia “ Garmegna said to the attentive crowd at the Luxembourg Doubletree by Hilton. “And I am pretty confident that as a conference like today will help us focus on additional challenges in the future.” RedMoney Events and IFN host similar conferences around the world every year. In 2014, IFN Forums have graced such cosmopolitan locales as Jakarta, Kuala Lumpur and Tehran. Voices of Leaders is a proud media partner with IFN for these upcoming events in 2014:
15th-16th September Conrad Dubai United Arab Emirates More Information
29th September Sheraton Kuwait Kuwait More Information
13th October Cinammon Grand, Colombo Sri Lanka More Information
Voices of Leaders is a global business network platform for top executives and companies to meet, share and grow both locally and worldwide.
voicesofqatar.com facebook.com/voicesofleaders twitter.com/voicesofleaders youtube.com/voicesofleaders pinterest.com/voicesofleaders linkedin.com/voicesofleaders plus.google.com/voicesofleaders