Great business opportunities in Qatar – Part 2
Habeeb was further curious to find out what would be the best opportunities to start a business within Qatar especially after the blockade was imposed. His discovery was perhaps best described in an old saying “Necessity is the mother of all invention” which is highly applicable in the case of Qatar. After the blockade was imposed by Qatar’s GCC neighbours, Qatar had to reinvent itself and do so quickly. Out of this necessity, arose a demand for various fields and some of them are without question some of the best opportunities the world can offer.
Agriculture: Every individual must sustain themselves with food. It is from food that they find sustenance and without this sustenance, one would go hungry. In a country that has a harsh environment, growing food might seem next to impossible. This is the very reason why this field is one of the fastest-growing economies in the world. In some sub-sectors, growth has been recorded at over 250% from the previous years.
The Government has encouraged “Made in Qatar” products and even subsidised many products to be grown with the latest technology to compensate for the harsh environmental conditions of the country.
This field is one that the Government has vested interests in, as it is pivotal in ensuring that it’s people succeed to be self-sufficient and even able to export excess produce.
Healthcare: A country’s health is primal in its success and Qatar has some of the best healthcare infrastructures in the world. The need to be self-sufficient in this sector is a primary reason for an increase in Healthcare products consumption. In-fact, there have been attempts made to even have healthcare products manufactured within the country for its needs and then further for export. As ambitious as this may seem, the country’s resolve to be non-dependent on others have pushed them to further this task. Depending on the sub-sector, full foreign ownership is even given to companies and entities that are looking to set up in Qatar to take advantage of their liberal tax and business policies.
Education: Every country needs to educate its next generation to ensure that there is a future for the country, that too, a promising one. Qatar has taken a lot of steps to invite various educational institutions to set up under the Qatar Foundation as well as outside it. From Primary, Secondary and Tertiary education, many players have entered the market in the last two years, post blockade. One needs to understand that the requirement for good quality education is unprecedented in the country and cannot be denied. One must understand that the field of education is regulated by the Ministry of Education and Higher Education. All institutions are subject to the laws and decrees of this body and must adhere to the same.
Information Technology Related Business: the IT industry in Qatar is booming just like in most places and like any field that is booming, it presents a lot of business opportunities. This includes software, networking, biometrics, mobile, digital entertainment, content delivery, mobile wallet technology, internet of things and so on. Depending on your investment capacity, you can start an IT related business in Qatar with ease.
Technical Consultation on Highly specialised business: There are many specialised fields that the country is definitely in need of. These vary across sectors and are highly beneficial to the country. This benefit that the country has is the primary reason that encourages foreign entities to be attracted to Qatar. Some of the fields it covers are Oil & Gas, Power Supply, Education, Information Technology etc. Many of these companies are at the forefront of their fields and Qatar welcomes them to set up within the country.
Financial Services: by a lot of standards, Qatar can be considered to be a rich country and the GDP rate is increasing very fast. This has presented an opportunity to start a financial service business. Additionally, there are several services and products that you can offer for different needs of the people. Also, this is probably the largest industry sector under the sky. This is an industry that doesn’t demand a specific educational background in most of the cases, however, this is a business activity that is regulated by the Government and you would need clearance from Qatar Central Bank to undertake a business of this manner. The Qatar Financial Centre has a Regulatory authority that can help with this as well and help you keep your 100% equity intact.
These are just a few of the opportunities that are available for any foreign or local business that is looking to take advantage of the country’s new goals to be self-sustaining and non-dependent on others.
If you or anyone you know are looking to set up in these or any other fields, reach out to us at +974 40 120 333 or email us at firstname.lastname@example.org for a free no-obligation call and we would be happy to help you in setting up your entity in the State of Qatar.