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Qatar : MORE than 300 companies registered in Qatar Financial Center.

Chief Commercial Officer Raed Al Emadi has confirmed that above 300 companies are at present registered in Qatar Financial Center (QFC).

Al Emadi explained that about 25 % of those companies are Qatari companies, at the same time as 35 to 40 percent of them are Qatari companies with foreign partners.

Al Emadi anticipated about 10 percent growth in the number of companies registered in QFC in the current year compared to the number of companies registered in 2015, stating that it is a very good ratio in light of the current global economic conditions and the decline in oil prices.

He explained that QFC is looking to attract more regional offices in the future and to attract companies that have huge investments, together with its quest to attract more banks, insurance companies and any other company that would represent an added value to the Qatari economy.

Al Emadi on the addition of more companies in Qatar Exchange stressed that it depends initially on the company registered in QFC and its desire to be listed in Qatar Exchange or not, noting that the Center encourages companies and explains the gains that can be achieved in this regard.

Chief Legal Officer and Board Secretary Nasser Al Taweel disclosed that the new law for Qatar Financial Center will be issued before the end of this year.

He explained that the new law will allow local companies to do business inside and outside Qatar, noting that it would address a number of challenges facing the Center and local companies in this regard.

He mentioned that QFC has created above 3,500 job opportunities in Qatar.

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Publication:Mena Report
Geographic Code:7QATA
Date:May 17, 2016
Words:284
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