QFC Commit To Actioning His Highness The Emirs Directives

30 Jul 2017

The Qatar Financial Centre (QFC) and its entities have reiterated and pledged their support and commitment to the goals set out by His Highness Sheikh Tamim bin Hamad Al-Thani, the Emir of the State of Qatar during his first speech since the onset of the on-going regional crisis.

During his speech, HH the Emir hailed the spirit, harmony and high morals of the people of Qatar during this difficult phase and stated his belief that this incident will only serve to make our nation stronger. HH went on to indicate some of the economic measures that will be taken to ensure that Qatar's economy continues to prosper. These include opening Qatar's economy to new initiatives, investments, production of food, medicine and ultimately, diversifying the country's economy and sources of income.

Commenting on the QFC's role in fulfilling these measures, Yousuf Mohamed Al-Jaida, QFC Authority Chief Executive Officer, said: "Since our establishment, we have played a key role alongside the Ministry of Economy and Commerce to attract FDI by providing a competitive platform for firms to expand to Qatar. Now more than ever, we will continue to support the development of a world-class financial service industry and broaden our platform to cater to the needs of the country and reaffirm our economic attractiveness as a nation."

On his part Faisal Al Sahouti Chief Executive Officer of the Qatar International Court and Dispute Resolution Centre (QICDRC) stated: "Qatar International Court is strongly recognised in the State of Qatar, particularly by supporting those who choose to invest in the country by setting up a business. We want to reassure business entities that we constantly work towards maintaining justice with the highest standards of transparency and impartiality. In addition to this, any dispute resolution that arises is guaranteed to be resolved by the specialized judicial committee, which is renowned for its integrity, competency and expertise."

Al-Sahouti continued: "The court is continuing in the right direction with its efforts directed towards the pursuit of its development and the revision of its entities in order to attain the best standards and international judicial practices. Through the technological advancements available at QICDRC, we are able to ensure that we continue to serve its message of achieving justice for those who need it."

Dr. Abdulaziz Al Horr Chief Executive Officer of the Qatar Finance and Business Academy (QFBA) stated: "The Emir's call for opening our economy to initiatives, investment, production of food, medicine and ultimately to diversify our source of income is the road map for independency and sustainable development."

In the first half of 2017, the QFC saw a 41% increase in the number of firms licensed compared to H1, 2016. The firms, which come from a variety of sectors, originate mainly from Europe, MENA and the Asia Pacific region.

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