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Qatar Financial Centre manages assets worth $28bn

QFC has accelerated the growth of its works in alignment with the Qatari economy, says Al Jaida

Assets managed by the Qatar Financial Centre (QFC) have reached $28.3 billion, with over 1,500 local and global enterprises operating in the financial and non-financial sectors, the centre’s CEO Yousuf Mohamed Al Jaida told Qatar News Agency.

In 2018, the centre announced its objectives for growth by 2022, including registering more than 1,000 companies on its platform and attracting investments worth $25 billion.

“QFC managed to achieve this goal prior to the specified time frame, as the total number of the registered companies on the platform reached 1,284 firms by the end of 2021,” Al Jaida said.

QFC has focused on developing the country’s financial, sports and digital sectors. It has over 180 financial sector registered companies, including 80 fintech, over 300 digital firms, including media companies, and more than 40 sports companies.

New digital companies registered by QFC during the first half of 2022 constitute 25 percent of all entities, while the percentage of those operating in the financial sector amounted to 16 percent, including fintech.

Qatar has witnessed an upward trend in investment flows during the past years, with foreign direct investments increasing from about $1.8 billion in 2021 to $3 billion during the first half of 2022, according to data issued during the Qatar Economic Forum.

Al Jaida disclosed that the US is the largest foreign investor in Qatar, adding that QFC witnessed an investment flow from 48 countries in the Middle East, Asia and Europe during the first half of 2022.