Over 300 Foreign Firms Opened In Qatar Financial Center In 2020, More Expected - QFC

The Qatar Financial Centre (QFC) has attracted 364 new companies from around the globe in 2020 and intends to expand the network by introducing favorable conditions for aircraft leasing and financing firms, Sarah Al-Dorani, QFC chief marketing officer, told Sputnik on Monday

DOHA (UrduPoint News / Sputnik - 31st May, 2021) The Qatar Financial Centre (QFC) has attracted 364 new companies from around the globe in 2020 and intends to expand the network by introducing favorable conditions for aircraft leasing and financing firms, Sarah Al-Dorani, QFC chief marketing officer, told Sputnik on Monday.

"In 2020 alone, 364 firms from across the world set up at the QFC, which represents a considerable growth PLUS We welcome firms to use our unique set of resources for FinTech firms to venture into the market and offer new innovations to help advance the country's banking and finance sector," Al-Dorani said.

The Doha-based business platform focuses primarily on companies from specific service industries, especially sport management and innovations, and new emerging markets, and provides them with tax, investment and other incentives, Al-Dorani noted.

According to the company representative, the last year's surge in new business registrations was due to the new regulations QFC introduced for international law firms and representative offices. Currently, the platform is gearing up to open its platform to aircraft leasing and financing firms, Al-Dorani added.

The QFC, which has licensed over 1,100 firms in Doha, will send a delegation of leading business and foreign direct investment experts to St. Petersburg International Economic Forum, which Russia will be held from Wednesday through Saturday.

Qatar is a guest country of the forum. Its delegation will include more than 50 high-profile organizations from the private and public sectors, in a show of commitment to strong economic cooperation between the two partner states.