Doha, Qatar – Qatar’s Cabinet, chaired by Prime Minister Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani, convened on Wednesday to approve key legislation aimed at bolstering foreign investment and strengthening the nation’s economic and social development. The meeting resulted in the approval of a draft law amending regulations governing non-Qatari capital, alongside new national policies for sports and standardization, and agreements with Iraq and Belgium. These decisions reflect Qatar’s ongoing commitment to diversifying its economy and enhancing its international partnerships.
Minister of Justice Ibrahim bin Ali Al Mohannadi announced the outcomes following the session, highlighting the government’s focus on attracting capital and aligning with the Third National Development Strategy 2024-2030. The approved measures are expected to impact sectors ranging from manufacturing and healthcare to sports and international trade. The Cabinet also reviewed reports from recent regional and international engagements.
Enhancing Qatar’s Investment Landscape
The draft law amending the 2019 regulations on foreign investment is a central component of Qatar’s economic strategy. According to the Ministry of Commerce and Industry, the amendments seek to remove barriers and create a more attractive environment for international businesses. This includes streamlining procedures and potentially expanding the range of sectors open to full foreign ownership.
Additionally, the Cabinet approved draft decisions adopting regional and international standards as Qatari technical regulations. This move is intended to facilitate trade, improve product quality, and ensure compliance with global benchmarks, particularly in crucial areas like food safety, medical equipment, and construction materials. The Ministry stated this will promote exports and safeguard consumers.
Supporting Economic Diversification
Qatar has been actively pursuing economic diversification away from its reliance on hydrocarbons. The new investment law and standardization measures are consistent with this broader goal. By attracting foreign expertise and capital, Qatar aims to develop a more resilient and sustainable economy. This aligns with the Qatar National Vision 2030, which prioritizes long-term economic growth and social progress.
The focus on standardization is also expected to support the growth of local industries by ensuring they meet international quality standards. This will enhance their competitiveness in both domestic and export markets. The Ministry of Commerce and Industry anticipates increased trade volumes as a result of these changes.
New Policies for Sports and International Cooperation
Beyond economic measures, the Cabinet also approved the Qatar National Sports Policy. Developed in coordination with the National Planning Council, the policy aims to foster athletic excellence, promote healthy lifestyles, and leverage the power of sports for community development. This builds on Qatar’s recent hosting of major sporting events, including the FIFA World Cup 2022.
Meanwhile, the government approved a draft agreement with Iraq to avoid double taxation and prevent tax evasion, furthering economic ties between the two nations. A letter of intent was also approved with Belgium to enhance cooperation in mediation and facilitation, signaling Qatar’s commitment to peaceful conflict resolution and diplomatic engagement. These agreements demonstrate Qatar’s proactive approach to strengthening regional and international relationships.
The Cabinet also reviewed reports on Qatar’s participation in the 41st session of the Arab Ministers of Justice Council and meetings of the Gulf Cooperation Council (GCC) committees focused on trade, industry, and standardization. These reviews indicate ongoing collaboration with regional partners on key economic and legal issues.
The draft law amending the foreign investment regulations will now proceed through the legislative process. While a specific timeline for enactment remains unclear, observers anticipate it will be a priority for the government in the coming months. The implementation of the new sports policy and standardization measures will also be closely watched as indicators of Qatar’s progress towards its national development goals. Further details regarding the specific amendments to the investment law are expected to be released as the legislation moves forward.
