Invest Qatar, the country’s investment promotion agency, has started a $1 billion program to help attract more investments and support the growth of different sectors in Qatar’s economy, the agency announced on Wednesday.
The program was announced at the 5th Qatar Economic Forum. It aims to support both local and international investors.
It offers financial help covering up to 40% of costs like starting a business, building, renting spaces, and hiring staff for up to five years.
It said the program’s first phase will offer four off-the-shelf packages designed to stimulate fresh investment, support the expansion and digitization of existing facilities, create high-skilled employment, and promote knowledge transfer.
The Advanced Industries Package focuses on important, high-tech industries like medicine, chemicals, car manufacturing, and electronics.
The Logistics Package supports investments in building infrastructure, using automation, and improving advanced logistics services.
The Technology Package helps grow the digital economy by supporting areas like cybersecurity, cloud computing, artificial intelligence, and innovation based on data.
The Lusail financial services package focuses on growing areas like fintech, insurance, and managing assets and wealth.
It also encourages companies to open offices in Lusail, Qatar’s central financial district.
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