Qatar`s first Public–Private Sector Dialogue Forum addressed challenges, developed practical solutions and initiatives and strengthened cooperation between both sectors.
Qatar Updating And Strengthening Its Legislation To Help Private Sector
The State is drafting new legislation, including updated public–private partnership laws, a foreign investment law and a bankruptcy law. Accordingly, these measures will strengthen the legal framework and help the private sector. The Ministry of Commerce and Industry were present at the forum, which highlighted that business procedures have recently been streamlined. Demonstrating this, investors now automatically receive a tax number upon issuance of a commercial registration, alongside approvals for labour recruitment. Furthermore, 95% of services are available via the online single-window platform and a new multilingual portal has been launched. Importantly, foreign investors can now participate in over 1,400 business activities. Additional reforms include the removal of requirements to match commercial activities for imports and the adoption of a unified GCC customs tariff. As a result, these measures will reduce costs, broaden sourcing options and eliminate shipment rejections due to licensing.
In addition, environmental permit processes have been simplified for 90% of industrial activities, lowering costs and enhancing project feasibility. Accordingly, this supports entrepreneurship in value-added sectors emphasising that the private sector is a key partner in Qatar’s development.
Ministries Working Hard To Create Attractive Investment Climate
The forum featured an enlightening panel discussion with both the Ministry of Justice and the Ministry of Labour. It highlighted the ministry’s efforts to simplify business establishment and operations while creating a more attractive investment climate. Accordingly, these initiatives include comprehensive company incorporation upon issuance of commercial registration, which also offers a commercial name reservation service. Such measures have reduced establishment times, minimised government entities involved and ensured compliance with trade name requirements in advance. The ministry’s main initiative is to strengthen partnerships within the private sector and includes the creation of sectoral committees covering industry, trade, logistics, health and technology.
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