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  • 09-10-18

    Qatar allocates USD2b to attract major firms

    (MENAFN) Qatar was announced to have set aside USD2 billion in a bid to lure multinational firms to enter its financial hub, as part of its plans to beat Dubai in the field.

    Qatar decided to offer free offices as well as tax incentives to firms which establish a hub in Doha.

    The Gulf state will also grant those companies an initial capital sufficient for a period of five years for working costs, in exchange for no less than ten years of commitment.

    The statement has been made by chief executive officer of the Qatar Financial Centre Authority, Yousuf Al Jaida during an interview with Bloomberg TV.

    Al Jaida stated: "it's there, ready to be tapped, sitting in a bank account under government supervision."

    He further added "we expect every single QFC company to have full access to government tenders and have unlimited access to the local market be it corporate and retail."

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