Qatar Sets Aside $2 Billion in Bid to Rival Dubai Financial Hub - Bloomberg:
Qatar has allocated $2 billion to attract multi-national companies to its financial center in its latest effort to rival Dubai.
Companies that set up a hub in Doha will be provided free offices and tax incentives as well as seed capital to cover five years of operating expenses in return for a commitment of at least a decade, Yousuf Al Jaida, chief executive officer of the Qatar Financial Centre Authority, told Bloomberg TV. Qatar’s financial hub is targeting to launch the incentive plan in the first quarter once all the governance structures have been put in place.
“It’s there, ready to be tapped, sitting in a bank account under government supervision,” he said. “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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