Qatari Minister of Commerce and Industry Sheikh Faisal bin Thani Al Thani announced, in an interview with Reuters, that Qatar intends to introduce 3 new laws as part of a comprehensive review of legislation aimed at making the country more attractive to foreign investors.
The Qatari minister said in the interview that Qatar intends to introduce new legislation that includes a bankruptcy law, a law for partnership between the public and private sectors, and a law for commercial registration.
He continued, “We are looking at 27 laws and regulations across 17 government ministries, affecting more than 500 activities,” and added that he expects the bankruptcy and public-private partnership laws to be drafted before the end of next March.
The latest version of Qatar’s National Development Strategy indicates that the country – one of the largest exporters of liquefied natural gas in the world – sets a cumulative goal to attract foreign direct investment worth $100 billion by 2030.
The new laws in Qatar also come within the framework of the country’s efforts to revitalize its private sector and not depend growth on government funding.
In the fourth quarter of 2024, the state’s general budget achieved a surplus of 0.9 billion riyals, and the surplus will be directed to reducing public debt, and therefore there is no cash surplus.#General_Budget_Qatar#Ministry_of_Finance_Qatar pic.twitter.com/7su6QeegYt
– Ministry of Finance (@MoF_Qatar) January 23, 2025
In this context, the Qatari Ministry of Finance said – today, Thursday – that Qatar recorded a surplus of 930 million riyals ($255.41 million) in the last quarter of last year, based on an average oil price of $73.9 per barrel.
Public spending in Qatar amounted to about 47.8 billion riyals in the last quarter of 2024, a 12% decrease from the same quarter of the previous year, while total revenues decreased by 12.5% to reach 48.7 billion riyals.
