Doha, January 04 (QNA) – Qatar ranks first among the world’s top destinations for foreign direct investment (FDI), owing to its strong economic and investment momentum into 2023, according to the newly released “FDI Standouts Watchlist 2023” by fDi Intelligence.
The report analyses the macroeconomic and foreign direct investment (FDI) trajectory of the world’s top 50 FDI destinations, using data from the International Monetary Fund (IMF) and foreign investment monitor fDi Markets.
In its key highlights, the fDi Intelligence report indicated that Qatar ranks first among the world’s top 50 FDI destinations, expected to carry the strongest investment momentum into 2023.
In 2022, the top sectors for FDI projects were Oil and Gas, financial services, and software and IT services, according to the report.
Qatar has achieved a 70% annual growth in FDI projects between 2019 and 2022, and its economy is expected to grow by 2.4% in 2023, while inflation is expected not to exceed 3.3%, it added.
The Middle East and Central Asian region are expected to grow by 3.6%, and Sub-Saharan Africa by 3.7%, by 2023. Major economies from the MENA region are expected to carry the strongest investment momentum into 2023, led by Qatar, followed by India and Morocco, the report noted.
The reported highlighted the Investment Promotion Agency Qatar (IPA Qatar) which oversees investment promotion activities under the “Invest Qatar” brand and acts as the country’s umbrella organization for FDI attraction. Through its close coordination with Qatari licensing platforms, it helps businesses advance their ambitions and achieve long-term success by delivering the support, advice, and expertise needed.
IPA Qatars goal is to showcase Qatar as an exceptional investment destination, connecting international investors to business opportunities, while bringing progress to the country’s economic development and diversification goals across sectors and geographies. (QNA)