Skip to content Skip to Search
Skip navigation

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. 

Latest articles

Adnoc sought advice from investment banks on buying a significant stake in BP, a media report said

UAE’s Adnoc explored acquiring BP

Abu Dhabi National Oil Company (Adnoc) explored the possibility of acquiring British oil major BP but abandoned the plan as it did not fit into its strategic growth objectives, a media report said.  The talks did not advance beyond the initial stages, Reuters reported, citing informed sources.  The UAE state oil company also sought advice […]

Nature, Undersea cables account for as much as 90 percent of Europe-Asia telecommunications, Water

Iraq and Kuwait team up for European telecom corridor

Iraq’s Informatics and Telecommunication Public Company, a division of the Ministry of Communications, has signed an agreement with Kuwait’s Zajil Telecom to create a telecommunications corridor from the Gulf region to Europe, transiting through Iraq and Turkey. The new route will pass through Iraqi sea and land ports. Iraq’s minister of communications Hayam Al-Yasiri said […]

An artist's impression of part of the Diriyah Square development

Diriyah Square planned for historic Riyadh district

A public space featuring 400 retail outlets and 100 restaurants and cafes is planned for the historic Riyadh district of Diriyah. Diriyah Square will be announced next week at the World Retail Congress in Paris and aims to attract a combination of international retail brands and local artisans.  Diriyah Gate Development Authority group CEO Jerry […]

Turkish crude steel output rose 25% year on year to 3.2 million tonnes in January

Turkish steel in the black but EU rules rankle

Turkey’s steel industry has rebounded strongly from a weak 2023, despite facing new emissions standards and competition for important markets.  Crude steel output rose 25 percent year on year to 3.2 million tonnes in January, with domestic consumption of finished steel reaching 3.5 million tonnes, a 20 percent increase.  Exports were also up, increasing 23 […]