Q Life Magazine Q Magazine June 2018 | Page 15

The Qatar Financial Centre in numbers
Qatar ’ s Trailblazers |
• More than 500 firms registered across a variety of sectors
• 24 business licenses approved in the first quarter of 2018
• More than 3,000 people within the QFC community
• USD 20 billion combined total assets

Yousuf Mohamed Al Jaida is the CEO of the Qatar Financial Centre Authority ( QFC ). After talking to Al Jaida , it quickly comes clear that the QFC has a monumental task on its hands : “ Our objective at the QFC is to diversify the economy and position Doha as the region ’ s leading financial and commercial capital ,” he says .

One way that the QFC contributes to the expansion of a strong private sector is by providing a comprehensive framework for firms to do business in Qatar and the region . This encourages local and international investment , helping to create jobs and opportunities .
Qatar ’ s journey towards economic maturity , diversity and sustainability .
However , Al Jaida ’ s job does not end there . The QFC is here to support Qatar ’ s economy for the long term . As he points out : “ Qatar ’ s plans for economic diversification and human capital growth pursuits are well enshrined in the Qatar 2030 Vision .”
Leading such an important organisation can be a daunting challenge at times . When an illegal blockade was imposed on Qatar in the middle of 2017 , there was more pressure than ever on the QFC to ensure Doha remains a good place to do business .
period in the QFC ’ s 13-year history . We recorded a 66 % increase in new firms being licenced on the QFC platform in 2017 compared to the year before .”
This is something that Al Jaida is especially proud of . He says : “ As I reflect on the year that has passed , I look back with immense pride at everything our team has accomplished . Our success this year is best shown by our record growth .
“ The way our nation and our entity stood up to the challenges of the blockade has been truly inspiring and will always be a proud moment in my career .”
The 2022 FIFA World Cup , to be held in Qatar , has accelerated this aspect of the QFC ’ s work . The QFC will provide the necessary legal , regulatory , and financial support to local and international firms working on projects related to the tournament . This enabling framework is an essential part of
Al Jaida did not shy away from this task . Thanks to a series of economic reforms implemented by the State of Qatar in response to the blockade and the hard work of his team , 2017 was the Qatar Financial Centre ’ s most successful year on record .
He says : “ 2017 was the fastest growth
For Al Jaida , the future for Qatar and its economy is bright . He concludes : “ I see Doha being a leading business and financial capital by 2022 .”
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