PLANS TO WOO FDI IN EDUCATION SECTOR
In tune with the government's policy to develop the nation's human resources, Qatar Development Bank (QDB) and the Supreme Education Council (SEC) are planning to offer a 15-year education loan to private investors seeking to set up educational institutes in the pre-primary, primary and secondary segments.
According to a report entitled GCC Education Industry 2014 released by Alpen Capital, the loan, made available at a subsidised interest rate of 3-4% per year, will allow investors to finance up to 70% of their overall project cost. The SEC will conduct the feasibility study for the education projects.
The private school market in the country stood at QR1.57 billion ($433 million) in 2010, in terms of annual tuition fees, the report says, adding that the government has taken several measures to attract foreign direct investment in the education sector by offering tax concessions and protection of these investments. “With these benefits, student enrollment in foreign schools in Qatar is on a rise,” the report says.