Posted on September 18, 2019

Qatar’s newly established Investment Promotion Agency LLC (IPA), has joined the World Association of Investment Promotion Agencies (WAIPA), an international non-governmental organisation that provides opportunities for investment promotion agencies worldwide to network and exchange best practices in investment promotion.

The IPA serves as a complete source of investment solutions for FDI in all of Qatar’s priority sectors. Its membership of WAIPA will provide the Agency access to resources and significant advances in FDI facilitation, and the opportunity to network and share effective strategies in attracting investments. The Investment Promotion Agency will add to Qatar's continued success in attracting foreign direct investment (FDI), investments in Qatar have gone through a 6.6% increase in the first quarter of 2019 compared to the corresponding quarter of last year (Q1 2018), according to the quarterly FDI report issued by the Planning and Statistics Authority and Qatar Central Bank.

H.E Ali bin Ahmed Al-Kuwari, Chairman, Investment Promotion Agency LLC and Minister of Commerce and Industry said: “The Investment Promotion Agency LLC was established to boost Qatar's FDI by providing international investors with a simple and streamlined process for establishing businesses in the country. Our membership of the World Association of Investment Promotion Agencies will enhance our capacity to provide premium services to international businesses wishing to set up operations in Qatar.”

Sheikh Ali AlWaleed Al-Thani, Chief Executive Officer, Investment Promotion Agency of Qatar said: “We are honoured to join the World Association of Investment Promotion Agencies and are eager to learn from their vast experience in strategic execution of investment promotion activities. As a country that has seen notable success in FDI, we are also keen on sharing our experiences in investment strategy, as well as contribute to the development of IPA best practices and international standards.” Sheikh Ali AlWaleed Al-Thani added: “Surely the mutual benefits from this association will be significant and we look forward to working with WAIPA and other investment promotion agencies worldwide in promoting and developing their capacity to contribute to the economic development.”

Bostjan Skalar, Executive Director, World Association of Investment Promotion Agencies said: “We are delighted that Qatar’s newly established Investment Promotion Agency LLC (IPA) is joining the World Association of Investment Promotion Agencies. We as WAIPA serve as a platform for IPAs worldwide and we believe that all goals are achieved faster with a systematic and collaborative approach. Together with our Consultative Committee, consisting of UNCTAD, UNIDO, ICC, ILO, IEDC, OECD and the World Bank, we therefore aim to constantly equip our members with the right skill sets to be set for a rapidly changing and evolving field, to be able to promote, attract and facilitate foreign direct investment (FDI).”

The Investment Promotion Agency LLC is the official investment promotion agency of Qatar with a mandate to increasingly attract FDI into the country. The Agency’s Advisory Board is chaired by H.E. Ali bin Ahmed Al-Kuwari, Minister of Commerce and Industry and includes H.E. Ahmad bin Mohammed Al-Sayed, Minister of State and Chairman of the Qatar Free Zones Authority; Saud Al-Attiyah, Deputy Undersecretary for Economic Affairs, Ministry of Finance; Khamis Al Mohannadi, Chairman of the Technical Committee of the Ministerial Group for the Promotion of the Private Sector; Mohammed Bader Al Sada, Chief Executive Officer, Media City; Mr. Saleh Majid Al-Khulaifi, Acting Undersecretary for Trade Affairs; Mr. Yousuf Mohamed Al-Jaida, Chief Executive Officer, Qatar Financial Centre; and Mr. Yosouf Abdulrahman Al-Salehi, Executive Director, Qatar Science and Technology Park.

The World Association of Investment Promotion Agencies (WAIPA) is an international non-governmental organisation established in 1995 by the United Nations Conference on Trade and Development (UNCTAD). It acts as a forum for investment promotion agencies, providing training and networking opportunities, and promotes best practice in investment promotion. Some of WAIPA’s objectives include promoting and developing understanding and cooperation among investment promotion agencies, promoting efficient use of information and facilitating access to data sources, assisting them in advising their respective governments on the formulation of appropriate investment promotion policies and strategies, and facilitating access to technical assistance and training.