QFC registers more than 100 companies during Web Summit Qatar

Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, has wrapped up its participation in the “Start-up Qatar” pavilion at the Web Summit Qatar 2024, hosted for the first time in the Middle East in Qatar as part of the State’s efforts to achieve the Third National Development Strategy 2024-2030.

During its participation in this world’s largest technology conference, the QFC offered a unique opportunity for companies to register and obtain license to do business in Qatar on the spot in addition to exclusive benefits, including waived registration fees and annual fees for the first five years, and a tax exemption in line with international standards.

During the Summit, QFC managed to attract more than 100 companies operating in various industries, including finance, digital, and fintech, to enter the Qatari market, one of the leading investment destinations in the region.

Over the four-day event, the QFC also signed a number of strategic Memoranda of Understanding (MoU) with reputable local and international organisations, the last of which was the partnership with the University of Doha for Science and Technology (UDST), Qatar’s leading technical and vocational education institution, to improve the education ecosystem and boost hands-on experience in finance.

This strategic partnership establishes a cooperation framework for knowledge sharing, launching joint community and awareness initiatives and preparing training curricula that enhance students’ capabilities, hands-on skills, and literacy in finance and related disciplines. Through this MoU, the QFC shall also offer incentives and facilities to the university’s startups to set up their business in Qatar.

Commenting on QFC’s active participation in the Web Summit, Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, said: “Hosting this world’s biggest technology event comes within the nation’s efforts to enhance digital and tech ecosystem, boost innovation, build capabilities, and support entrepreneurs and startups, which are essential to building a diversified knowledge-based economy. As part of our commitment to enhancing Qatar’s booming business ecosystem, we offered exclusive facilities and benefits for companies that registered during the Web Summit as our contribution to attracting foreign investments, diversifying the national economy, and supporting the nation’s efforts to become an advanced tech hub in the region”.

Source: My Startup World