Sheikh Ali Alwaleed Al-Thani, CEO, Investment Promotion Agency Qatar (IPA Qatar) • Interview
By acting as a long-term partner for investors throughout their journey in Qatar, from their discovery of this market up to their subsequent growth, IPA Qatar helps achieve the country’s national vision.
How has the launch of IPA Qatar and the Invest Qatar brand impacted the investment ecosystem in the country?
IPA Qatar was established in July 2019, and its mandate is to support high-value inward FDI into the country. This is both to help achieve the 2030 National Vision and to aid in Qatar’s economic diversification strategy. The recently launched Invest Qatar brand leverages our integrated ecosystem, including all national licensing platforms such as the Qatar Financial Centre, the Qatar Free Zones Authority, the Qatar Science and Technology Park, as well as the Ministry of Commerce and Industry. IPA Qatar works firstly to coordinate the brand as a value proposition directed at investors, highlighting its purpose, direction, and methods. We act as a long-term partner for investors throughout their journey in Qatar, from their discovery of this market up to considering the establishment here and their subsequent growth. IPA Qatar also has a policy advisory function that greatly improves the ease of doing business in the country. We do a continuous review of laws and regulations applicable to FDI. We also regularly advise and publish reports to improve the investment climate and help address any issues that investors might face.
Are there any specific geographical locations or sectors IPA Qatar targets for inbound FDI?
In terms of geography, the IPA’s mandate is generally neutral. We look at the value and economic diversification angle of any FDI project. We also look at talent and high-skilled labor. When it comes to sector preferences, there is a focus on innovative sectors and areas the market dynamics point to, especially in the post-COVID-19 era. One example is fintech and more partnerships between financial and non-financial institutions. Qatar is poised to boost its role as a global fintech hub. Other sectors of interest include advanced manufacturing, where Qatar is actively promoting Industry 4.0, and healthcare, especially due to the spike in demand for medical supplies and health-connected businesses such as tertiary medicine and virtual care. Logistics is another sector of interest. There are massive disruptions in the global supply chain due to COVID-19, and Qatar has a specific logistics play in motion. Virtual education, ICT, and AI in general are other focuses that are key in terms of Qatar’s ongoing economic diversification plan.
Can you elaborate on IPA Qatar’s collaboration with international partner organizations?
We understand the importance of multilateral collaboration with our partners to exchange best practices and contribute to a more sustainable global business ecosystem. This integrative approach has become even-more important with the recent pandemic. IPA Qatar is an active member of key international organizations, such as the World Association of Investment Promotion Agencies and the World Economic Forum’s Platform on Shaping the Future of Investing. We have also signed several agreements with bilateral partner organizations, including Malaysia’s Investment Development Agency and the Investment Office under the Presidency of Turkey. Business France is another partner organization we work closely with. Our partnership with our Russian counterparts has advanced to the point that Qatar will participate in the St. Petersburg International Economic Forum in 2021 as a guest country. We hosted a significant number of events with our partners in 2020 and will continue to leverage these partnerships through a range of continued activities in 2021.
How will IPA Qatar engage with international investors and partners in 2021 and beyond to attract FDI into these new projects that the government will launch?
Looking ahead, IPA Qatar will continue to pursue its mandate by engaging with both investors and partner organizations to bring progress to the FDI arena. Qatar will strengthen its global footprint with new partnerships that help advance the business ecosystem and our improved value proposition due to the new regulatory and legal changes. We look forward to several upcoming international events scheduled for 2021. We are currently achieving the full agenda of the organization and are committed to achieve Qatar’s economic diversification goals together with our national business and licensing platforms.