QFC Showcases Robust Business Opportunities in Qatar at ASPIRE4SPORT

QFC Showcases Robust Business Opportunities in Qatar at ASPIRE4SPORT Doha, October 08 (QNA) - Qatar Financial Centre (QFC) has showcased robust business opportunities in the State of Qatar and the mechanisms QFC follows to develop the economy and facilitate the introduction of new companies in the Qatari market, during its sponsorship and participation in the 8th edition of ASPIRE4SPORT Congress and Exhibition, which took place in London. QFC Chief Executive Officer Yousuf Mohammed Al Jaida stated: "The QFC has always placed great importance on the business of sport. In fact, we license sports and events companies that specialize in this sector. We have welcomed Doha's first triathlon event company TriDoha, sports organizations including Qatar 2022 Local Organizing Committee and FansWorld 12 and events companies such as DMG Events, SwissOpen Air International and AMCASIA". "With the 2022 FIFA World Cup preparations in full swing, there is an abundance of business opportunities in the sports and events sectors. The National Vision 2030 places investment in sports as part of a multi-faceted strategy to ensure that Qatar's economic development is diverse and sustainable," Al Jaida added. During the two-day event, some of the most influential international figures in football and leading members of the scientific community met to discuss the challenges and updates of sports training methodology worldwide. The Aspire Academy Global Summit constitutes an essential part of the 'Aspire in the World Fellows' program which brings together knowledge and expertise from 50 of the world's leading football clubs, federations and leagues concerning the development of elite youth football players. In preparation for the 2022 FIFA World Cup Qatar has witnessed a huge boom in the construction sector resulting in a large number of infrastructure projects, including a $20 billion investment in roads; $40 billion investment in railways; $4 billion investment in stadiums and an $8 billion investment in a deep-water seaport. The QFC is an onshore business and financial center, providing a platform for regulated and non-regulated firms to do business in Qatar and in the MENA region. The platform allows financial services activities such as banking, asset management, insurance, and reinsurance and investment services. Non-financial services consist of professional and business services firms, events, audit, accounting, tax, consulting and legal services, business councils and professional associations. The QFC also offers its own legal, regulatory, tax and business environment, which allows 100 percent foreign ownership, 100 percent repatriation of profits, and charges a competitive rate of 10 percent corporate tax on locally sourced profits. (QNA)