Over 300 Companies Registered in Qatar Financial Center

Doha, May 15 (QNA) - More than 300 companies are currently registered in Qatar Financial Center (QFC), Chief Commercial Officer Raed Al Emadi has confirmed. About 25 percent of those companies are Qatari companies, while 35 to 40 percent of them are Qatari companies with foreign partners, Al Emadi explained during a press conference held today. Al Emadi predicted about 10 percent growth in the number of companies registered in QFC during the current year compared to the number of companies registered in 2015, saying that it is a very good ratio in light of the current global economic conditions and the decline in oil prices. He explained that QFC is seeking to attract more regional offices in the future and to attract companies that have huge investments, along with its quest to attract more banks, insurance companies and any other company that would represent an added value to the Qatari economy. On the inclusion of more companies in Qatar Exchange, Al Emadi pointed out that it depends initially on the company registered in QFC and its desire to be listed in Qatar Exchange or not, noting that the Center encourages companies and explains the gains that can be achieved in this regard. For his part, Chief Legal Officer and Board Secretary Nasser Al Taweel revealed that the new law for Qatar Financial Center will be issued before the end of this year. He explained that the new law will allow local companies to do business inside and outside Qatar, noting that it would address a number of challenges facing the Center and local companies in this regard. He noted that QFC has created more than 3,500 job opportunities in Qatar. (QNA)