Qatar Financial Center Targets USD 25 Billion in Foreign Direct Investments by 2022

Following the reinstatement of diplomatic ties between Qatar and its neighbouring Gulf Cooperation Council (GCC) nations, Qatar Financial Centre (QFC)’s Chief Executive Officer, Yousuf Al-Jaida, stated that the country is aiming for USD 25 billion in foreign direct investments (FDI) by 2022.

According to Al-Jaida, the reconciliation is anticipated to have a positive impact on trade between the GCC countries, with Doha competing to gain the position of the financial hub within the GCC. In this regard, al-Jaida noted that Doha’s competitive advantage over its peers was its ambition to develop the country’s financial services, fintech and Islamic finance sectors.

Al-Jaida also stated that the GCC détente fully supported Qatar’s goal of work...