Industrial Sector Investments In Qatar And KuwaitAt Jason Morgan Investment, we provide you with the best Industrial Sector Investments In Qatar And Kuwait. More so, the total volume of investments in the industrial sector in 2020 amounted to approximately QR263bn. Showing a growth rate of 0.4 per cent compared to 2019. In recent years, Qatar has cemented its position on the global financial map as one of the fastest-emerging economies in the world. In 2015, the Qatari economy succeeded in achieving a balanced and stable growth rate despite global economic challenges. More so, Qatar’s GDP grew by 3.7%, surpassing the global growth rate of 3.3% in 2015. Qatar represents an attractive destination for foreign investments, offering investors political and social stability in addition to a full range of benefits to energy-consuming industries. The State of Qatar has the largest gas reserves in the world and enjoys a strategic location within the Gulf region. However, Qatar has been keen on developing a promising industrial sectors investment in Qatar in priority sectors of the national economy.
- Non-Qatari and Kuwait Industries may be exempted from the income tax for a period of up to ten years.
- Non-Qatari and Kuwait Industries may be exempted from customs on the imports of necessary machinery and equipment.
- Land can be allocated for a foreign Industrial project by way of a renewable rent for a long renewable period of not more than 50 years.
- Non-Qatari Industries may import duties on necessary machinery and equipment.
- Non-Qatari investors shall conduct private money transfers for their investments from abroad into the State of Qatar.
- These transfers can be conducted in any convertible currency, at the exchange rate applicable on the date of conversion.
- Non-Qatari industries, direct or indirect, shall not be subject to expropriation or any equivalent act according to the Law No. 13 of 2000 regulating the investment of foreign capital in economic activity
- Non-Qatari investors are entitled to transfer the ownership of an investment to another non-Qatari or national investor.
Industrial Sectors in Qatar
- Information technology
- Consultancy & Technical Services
- Development & exploitation of natural resources
- Sports, Recreational, and Cultural Services
The industrial sector in KuwaitKuwait’s economy is based on petroleum. This has made the country the 6th largest oil reserves worldwide. Consequently, 90% of government revenue comes from the petroleum industry. Also, has an average daily production of 2.8 million barrels per day. Thus, Kuwait prides itself to have 104 billion barrels of proven oil reserves which translate into 9% of the world’s reserves. Besides the oil industry, Kuwait engages in industries such as
- food processing
- construction materials. etc