QFC focusing on driving FDI inflows to Qatar: Al-Jaida

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Al-Jaida making his keynote speech during the ‘Forecast Event: Financial Markets Outlook in 2019’ conference hosted by the CFA Society Doha. Right: Baker speaking at the event. PICTURES: Jayan Orma

The country has witnessed “a significant 27% increase” in foreign direct investment (FDI) inflows between 2016 and 2017, according to Qatar Financial Centre (QFC) Authority CEO Yousuf Mohamed al-Jaida, who stressed that the QFC will continue to focus on driving the growth of FDI inflows to Qatar. Al-Jaida made the statement in keynote speech during the ‘Forecast Event: Financial Markets Outlook in 2019’ conference hosted by the CFA Society Doha on Tuesday at the Sheraton Grand Doha Resort & Convention Hotel.


“We have already seen a significant 27% increase in FDI inflows between 2016 and 2017 thanks to the rich offerings of Qatar’s markets, according to a 2018 UN report,” al-Jaida said. “Not only have global agencies upgraded the banking sector’s rating, but their forecast for 2019 reflects continued confidence in Qatar’s economy. Last week, Moody’s noted that Qatar’s banks will continue to have a stable outlook for 2019 in their GCC Banks for 2019 Report.  “Citing improving operating conditions, solid loan performance, and strong capital, the report shows that Qatar’s banking system is stable in all seven components of credit drivers – one of only two countries in the region to do so,” al-Jaida pointed out.


Gary Baker, managing director EMEA of the CFA Institute, said in a speech that Qatar has made great strides in building an efficient and transparent financial sector.  “Qatar’s goals – such as enhancing investor protection through standards and codes of conduct and building talent through professional development – are aligned with the mission of CFA Institute. 
“As leaders of the investment profession, the CFA Institute and CFA Society Doha are aligned on our shared mission to advance ethics, raise professional standards of practice, and enhance market integrity,” he said.

 
The event was also highlighted by a panel discussion attended by Al Rayan Investment senior director Akber Khan, Georgetown University in Qatar director of International Economics Dr Alexis Antoniades, Qinvest head of Asset Management Dr Ataf Ahmed, and QFC Financial Sector Office managing director Henk Jan Hoogendoorn. Moderated by CFA Society Doha president Umair Siddique, the panel discussion revolved on the current status of Qatar’s economic and business environment, as well as future challenges and opportunities.  The panel also discussed major headwinds facing the global economy in 2019, particularly the impact of trade war and interest rate normalisation, and they also shared their views on the potential asset allocation strategy for 2019.

Sources and photo-credits: Gulf Times