The Qatar Financial Center seeks to attract $ 25 billion in foreign direct #investment by 2022
The Qatari capital, Doha, competes with the most prominent global financial centers in the region, including the financial center in Dubai in the United Arab Emirates as well as in the Saudi capital, Riyadh.
Dubai’s financial center was the most prominent, but it began to face new competition from Riyadh. The Kingdom of Saudi Arabia is working to attract multinational companies to the capital as part of Crown Prince Mohammed bin Salman’s ambitious Vision 2030 plan to diversify the kingdom’s economy.
The Qatari capital, #Doha, outperforms both #Dubai and #Riyadh in developing #Islamicfinance and #financialtechnology, as well as financial services in general.
In addition to Doha’s goal of attracting foreign direct investment to its #financialcenter, it is working to create 10,000 #newjobs and more than 1,000 #companies by 2022.
According to World Bank reports, the Qatari economy is expected to grow by 3% in 2021, the highest rate among the Gulf Cooperation Council countries. #Qatar is one of the richest countries in the world in terms of per capita #GDP, and it is scheduled to host the #WorldCup in 2022.