Qatar's Investment Promotion Agency Launches "How-To" Guides For Prospective Entrepreneurs And Investors In the Country
IPA Qatar's reports provide detailed information on the country's main economic sectors.
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Qatar's Investment Promotion Agency (IPA Qatar) has launched "how-to" guides to provide entrepreneurs, investors, and businesses with vital information they'd need to establish or expand their operations in the country.
For instance, the Setting Up Your Business In Qatar guide helps with answering initial questions, such as how to select the right registration platform for your business, or with providing key insights into Qatar's taxation, customs, banking and finance, and legal systems.
Similarly, the Invest In Qatar guide gives more information about opportunities for investors in five sectors that are growing in the country: agritech, e-gaming, cybersecurity, trading hub, and the halal economy.
Meanwhile, the Startup Ecosystem Of Qatar report reveals the strong SME sector in the country, which accounts for 31%-34% of total employment of its population. It also notes the recent Venture Investment Report by Qatar Development Bank, which said that venture funding in Qatar hit a record of QAR69 million (US$18,9 million) in 2021, growing by 92% from 2020.
The report went on to point out that accelerators were responsible for 46% of these venture capital transactions. Fintech startups secured the most venture capital deals, while transport and logistics startups received the most funding.
Another of IPA Qatar's reports, Hiring in Qatar, also showcases some interesting data, such as that, in Qatar, employees benefit fully from their wages, as there is no tax on personal income, but that companies are subject to a corporate income tax levied at a flat rate of 10%.
Furthermore, the report also mentions that Qatar's Law No.17 of 2020 introduced the non-discriminatory minimum wage applicable to all workers, of all nationalities, in all sectors, including domestic workers, or that the average monthly wage for the total number of workers amounted to nearly QAR12,000 (US$3,295).
IPA Qatar, which oversees investment promotion activities under the Invest Qatar brand and acts as the country's umbrella organization for attracting foreign direct investment, has also released reports covering topics like living in Qatar, ESG investing, and circular economy, which can be accessed here.