18 Feb 2019 – 0:30
By Satish Kanady I The Peninsula
Yousuf Mohamed Al Jaida, Chief Executive Officer of QFC Authority, has said the QFC’s new strategic plans will promote Qatar as a natural hub for innovative digital, media, sports, and financial services, providing a solid basis for foreign direct investments in those growing fields. The QFC’s strategy includes an emphasis on new emerging markets that are collectively worth over $$2.1 trillion, with Qatar and the QFC well positioned to serve as a gateway to these lucrative and fast-growing economies.
Al-Jaida yesterday discussed QFC’s new strategic plans at length during a high-level panel with key national stakeholders with whom the QFC is closely collaborating to achieve its ambitious goals and realise its strategy.
Panelists included Ali Al-Mutawaa, Chief of Enterprise and Development Officer, Aspire Zone Foundation; Ibrahim Mohammed Hassan, Executive Director of Investment, Qatar Development Bank; and Faisal Ibrahim AlMalki, Director of Projects Management, Msheireb Properties.
One of the QFC’s partnership goals is to establish a new financial city in Msheireb Downtown Doha, one of the world’s smartest and most sustainable cities. Msheireb Downtown Doha is a mixed-use development spanning 310,000 square meters with the entire project targeting LEED Gold and Platinum ratings. The QFC’s planned move to the world-class development will further cement Qatar’s position as a leading international financial and business hub.
Al Jaida said that QFC’s focus on the digital, media sports and financial service industries is aligned with Qatar’s existing positioning in those fields. In the sports industry alone, Qatar has already established world-class infrastructure thanks to robust investments, and has leveraged this by hosting international sporting events, which are set to bring even more economic impetus, with the sports industry estimated to be valued at $20bn by 2023.
Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC Authority said: “By building on existing developed industries with impressive growth potential, the new strategy will promote Qatar as a natural hub or innovative digital, media, sports, and financial services thus providing a solid basis for foreign direct investments in those growing fields. In addition, the QFC’s strategy includes an emphasis on new emerging markets that are collectively worth over USD $2.1 trillion, with Qatar and the QFC well positioned to serve as a gateway to these lucrative and fast-growing economies.”
Al-Jaida added: “We are confident that the QFC’s unique platform is well-equipped to provide the necessary framework to attract foreign investors to Qatar, and in the process continue to support the growth and diversification of the economy.”
Ali Al-Mutawaa, Chief of Enterprise and Development Officer, Aspire Zone Foundation said: “Investing in the sports sector is one of the pillars of our strategy at Aspire Zone Foundation. The QFC’s focus on sports and other important sectors underscores the growth potential of these industries in Qatar and internationally. By partnering with the QFC, we can ensure our continued cooperation in driving investments in the sports sector, in line with the Qatar National Vision 2030, which will continue to achieve significant growth beyond the 2022 FIFA World Cup. “
Faisal Ibrahim AlMalki, Director of Projects Management, Msheireb Properties, said: “Today’s event demonstrates the commitment of QFC in engaging with all the stakeholders; one thing which will be even easier and achievable when they are all running their operations from within Msheireb Downtown Doha soon. Our project is the new civic hub in the country and the destination for business, living, and leisure. The move of QFC and its operations back to the center of Doha reflects the confidence they have in our infrastructure and is foretelling of the enhanced quality and integrated services to be offered to the public.”