505 new firms join QFC platform in the rest first half of 2024

Doha, Qatar: The mid year progress review of the Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, revealed...

Doha, Qatar: The mid-year progress review of the Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, revealed an impressive increase in new company registrations, reaching 505 firms in the first six months of 2024, up 230 per cent from 149 firms in the same period last year, bringing the total number of firms on its platform to over 2,200.

The tech sector accounted for the largest share of registered firms, contributing nearly 38 per cent.

This significant representation is largely due to QFC’s strong presence at the Web Summit 2024  in Doha last February, where QFC offered special incentives for companies registering during the event.

This strategy was part of QFC’s  efforts to increase the inflow of foreign investments, diversify the economy, and position the country as a leading tech hub in the region.

The financial services sector accounted for 10 per cent of the total number of new firms that joined the QFC platform in the first half of 2024.The majority of these firms hailed from the UK, France, Jordan, India, and the USA and represent a diverse range of industries, including advisory services, fintech, IT and innovation.