Qatar’s FDI projects jump 110% in 2024, says investment agency chief

Speaking to Qatar News Agency, Sheikh Ali bin Alwaleed Al-Thani, CEO of the Investment Promotion Agency, said the number of FDI projects reached 241 in 2024, up from 115 in 2023. Shutterstock
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Updated 18 May 2025
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Qatar’s FDI projects jump 110% in 2024, says investment agency chief

  • Number of FDI projects reached 241 in 2024, up from 115 in 2023
  • Most of the investments were concentrated in key sectors, particularly wholesale and retail trade

RIYADH: Qatar saw a 109.6 percent year-on-year increase in foreign direct investment projects in 2024, more than doubling the 2023 total, reflecting growing global confidence in its economy, according to a top official. 

Speaking to Qatar News Agency, Sheikh Ali bin Alwaleed Al-Thani, CEO of the Investment Promotion Agency, said the number of FDI projects reached 241 in 2024, up from 115 in 2023. 

He attributed this growth to strong investor confidence in Qatar’s economic resilience and long-term strategic direction. 

“This growth is attributed to targeted investment policies, a supportive business environment, and the state’s commitment to economic diversification in line with Qatar National Vision 2030," the QNA report stated. 

Most of the investments were concentrated in key sectors, particularly wholesale and retail trade, which accounted for 77 undertakings, and administrative and support services, which had 41. 

Greenfield projects, involving new ventures rather than expansions, comprised 74 percent of the total, highlighting Qatar’s appeal as a destination for sustainable, long-term investments. 

Al-Thani stated that these developments were driven by recent reforms, including simplified licensing procedures and enhanced digital services, aligned with the economic diversification objectives of the Third National Development Strategy. 

He also pointed to the Ministry of Commerce and Industry’s Strategy for 2024–2030, which aims to boost the investment environment further by achieving 3.4 percent annual growth in non-oil sectors. 

The establishment of the National Statistics Centre was also highlighted as a milestone in enhancing data-driven policymaking and transparency, key enablers of a healthy investment climate, the official noted. 

Qatar’s global competitiveness continues to strengthen, Al-Thani said, citing its rise to 11th place in the International Institute for Management Development World Competitiveness Index for 2024. 

In terms of logistics and infrastructure, the country ranked 14th for logistics competence and 19th for infrastructure in the World Bank’s Logistics Performance Index. 

According to the agency, the new investment projects generated 9,348 jobs in 2024, a 122.7 percent increase from 4,197 jobs in 2023. 

These roles were largely in the same sectors that attracted the most FDI, including retail and wholesale trade, support services, accommodation and food services, and scientific research and development.

“Our strategy is firmly centered on attracting high-quality, knowledge-based investments that align with Qatar’s long-term economic diversification goals. We focus on sectors where Qatar offers a strong competitive advantage, and where innovation, technology and sustainability can generate real value for both investors and the local economy,” he was quoted as saying by QNA.

He added: “A core component of this strategy has been the development of strategic partnerships with leading global organisations. These collaborations go beyond job creation — they are focused on transferring knowledge, introducing cutting-edge technologies and embedding international best practices across key industries.” 

He said this investment approach supports key national objectives, including achieving an average annual economic growth rate of 4 percent, increasing labor productivity, and attracting $100 billion in FDI by 2030. 

Qatar’s achievements have also been recognized globally. The country ranked first worldwide for tax policy and basic infrastructure in the IMD World Competitiveness Ranking 2024, second for general infrastructure in the Global Innovation Index, and fourth for information and communications technology development in the ITU ICT Development Index. 

Its commitment to entrepreneurship and innovation was underlined in the 2024–2025 Global Entrepreneurship Monitor, where it ranked first globally in entrepreneurial intentions and employee activity, and ninth for start-up opportunities. 


Pakistan hikes petrol price by Rs5.36, diesel by Rs11.37 per liter

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Pakistan hikes petrol price by Rs5.36, diesel by Rs11.37 per liter

  • Petrol now costs Rs272.15 per liter while HSD has risen to Rs284.35
  • The OGRA-recommended prices will remain valid till the end of July

KARACHI: Pakistan’s government has increased the price of petrol by Rs5.36 per liter and high-speed diesel (HSD) by Rs11.37 per liter for the next fortnight, the Finance Division announced late Tuesday.

The revised prices took effect from today, July 16.

According to the official notification, petrol now costs Rs272.15 per liter, up from Rs266.79, while HSD has risen to Rs284.35 per liter from the previous Rs272.98.

“The Government has revised the prices of petroleum products for the fortnight starting tomorrow, based on the recommendation of OGRA [Oil and Gas Regulatory Authority] and the relevant Ministries,” the Finance Division said in its statement.

Fuel prices in Pakistan are adjusted every two weeks and are influenced by global oil market trends, currency fluctuations and changes in domestic taxation.

The increases have a direct impact on inflation, raising production and transportation costs and driving up the prices of essential goods and services, particularly food. The effect is further amplified by Pakistan’s reliance on imported fuel.

This marks the third consecutive increase in fuel prices. On June 16, the government raised petrol by Rs4.80 per liter and HSD by Rs7.95. Another hike followed on July 1, with petrol up by Rs8.36 and HSD by Rs10.39.

Fuel price volatility escalated last month during the 12-day conflict between Iran and Israel, when Pakistan instructed oil marketing companies to maintain mandatory reserve levels.

While the government ruled out supply shortages, the conflict triggered concerns about a potential disruption in oil flows through the Strait of Hormuz.


Saudi Arabia raises $1.34bn through July sukuk issuance

Updated 15 July 2025
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Saudi Arabia raises $1.34bn through July sukuk issuance

RIYADH: Saudi Arabia’s National Debt Management Center raised SR5.02 billion ($1.34 billion) through its riyal-denominated sukuk issuance for July, marking a sharp 113.6 percent increase compared to the previous month.

In June, the Kingdom issued sukuk worth SR2.35 billion, while May and April saw issuances of SR4.08 billion and SR3.71 billion, respectively.

Sukuk are Shariah-compliant financial instruments that offer investors partial ownership in an issuer’s underlying assets, making them a popular alternative to conventional bonds.

According to NDMC, the July issuance was divided into four tranches. The first tranche, valued at SR776 million, will mature in 2029. The second, worth SR1.34 billion, is set to mature in 2032, followed by a third tranche of SR823 million due in 2036. The largest tranche, totaling SR2.08 billion, will mature in 2039.

Saudi Arabia’s debt market has witnessed robust growth in recent years, attracting strong investor interest in fixed-income instruments amid a global environment of rising interest rates.

In April, Kuwait Financial Center, also known as Markaz, reported that Saudi Arabia led the Gulf Cooperation Council in primary debt issuances during the first quarter of the year. The Kingdom raised $31.01 billion from 41 offerings, accounting for over 60 percent of total issuances across the region.

Credit rating agency S&P Global noted in April that Saudi Arabia’s expanding non-oil sector and steady sukuk issuance volumes are likely to support the growth of the global Islamic finance industry.

The agency forecasts global sukuk issuance to reach between $190 billion and $200 billion in 2025, with foreign currency-denominated offerings contributing up to $80 billion, assuming market conditions remain stable.

Echoing that outlook, a report by Kamco Invest published in December said Saudi Arabia is expected to account for the largest share of bond maturities in the GCC between 2025 and 2029, with $168 billion set to mature during the period.

Earlier this month, S&P Global reiterated its positive view, stating that the global sukuk market is on track to maintain its momentum in 2025, with foreign currency-denominated issuances projected to reach between $70 billion and $80 billion.


Saudi Arabia tops MENA VC rankings with $860m in H1: MAGNiTT 

Updated 15 July 2025
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Saudi Arabia tops MENA VC rankings with $860m in H1: MAGNiTT 

RIYADH: Saudi Arabia led venture capital activity in the Middle East and North Africa in early 2025, raising $860 million — a 116 percent annual jump — backed by sovereign support and foreign interest. 

In its latest report, regional venture platform MAGNiTT revealed that the Kingdom witnessed 114 deals in the first half of the year, marking a significant 31 percent rise compared to the same period in 2024. 

This comes on the back of a strong 2024 performance, when Saudi Arabia retained its position as the most funded MENA country for VC for the second consecutive year. Startups raised $750 million, with a 34 percent increase in deal funding rounds below $100 million – dubbed MEGA deals – reflecting growing early- and mid-stage capital formation, according to a report released earlier this year by MAGNiTT and SVC. 

In its latest report for the first half, MAGNiTT stated: “This growth was supported by continued sovereign capital activity, event-driven momentum from LEAP, and early-stage programs backed by new funds and accelerators.” 

Saudi Arabia ranked second among emerging venture markets in total VC funding, trailing only Singapore, which raised $1.28 billion across 120 deals in the first half. 

However, Singapore’s funding declined 37 percent year on year, while the number of deals dropped 31 percent. 

“The drop (in Singapore) signals a continued cooldown in late-stage deployment and foreign investor activity amid macro headwinds,” the report stated. 

Among emerging markets, Saudi Arabia was followed by the UAE, which raised $447 million in funding in the first six months of the year, a rise of 84 percent year on year. 

The UAE also matched Saudi Arabia in deal count, recording 114 deals, up 10 percent compared to the same period last year. This was driven by increased international participation, which reached its highest level in the Emirates since the first half of 2020. 

Elsewhere, Turkiye raised $226 million, followed by Vietnam at $216 million, Egypt at $185 million, and South Africa at $183 million. Nigeria raised $158 million, while Indonesia and Kenya secured $102 million and $71 million, respectively. 

The report further noted that fintech was the leading sector across all three EVM regions in the first half, accounting for 45 percent of VC funding in Southeast Asia, 38 percent in the Middle East, and 45 percent in Africa. 

“The bulk of this activity was concentrated in payment solutions and lending platforms, which emerged as the dominant fintech subsectors,” added the report. 

Meanwhile, mergers and acquisitions activity across emerging venture markets saw 55 transactions in the first half, marking a 31 percent increase compared to the same period last year. 


Closing Bell: Saudi main index closes in red at 11,095

Updated 15 July 2025
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Closing Bell: Saudi main index closes in red at 11,095

RIYADH: Saudi Arabia’s Tadawul All Share Index slipped on Tuesday, as it shed 118.18 points, or 1.05 percent, to close at 11,095.41. 

The total trading turnover of the benchmark index was SR4.52 billion ($1.21 billion), with 46 of the listed stocks advancing and 204 declining. 

The Kingdom’s parallel market Nomu also shed 55.43 points to 27,301.46.

The MSCI Tadawul Index declined by 1.09 percent to close at 1,421.31. 

The best-performing stock on the main market was SHL Finance Co. The firm’s share price increased by 5.21 percent to SR22.62. 

The share price of SICO Saudi REIT Fund rose by 5.1 percent to SR4.33. 

Tourism Enterprise Co. also saw its stock price climb by 3.26 percent to SR0.95. 

Conversely, the share price of Alistithmar AREIC Diversified REIT Fund declined by 4.03 percent to SR9.05. 

On the announcements front, Saudi Co. for Hardware, also known as SACO, said that it signed an agreement valued at SR140.43 million to sell its warehouse in Al-Mashael district in Riyadh. 

In a Tadawul statement, SACO said that the proceeds from the sale will be used to repay existing bank loans and help support its future expansion plans.

The firm further said that the 42,937-sq.-meter warehouse was sold to 6th Iradat Al Imdad Co., a limited liability company. 

The firm added that there are no related parties involved in the deal. 

The share price of SACO dropped by 1.02 percent to SR29.14. 

The shareholders of Saudi Lime Industries Co. approved a recommendation to increase its capital by 5 percent through a one-for-20 bonus share distribution, by capitalizing SR11 million from the firm’s retained earnings account.

The stock price of Saudi Lime Industries Co., listed on the parallel market, advanced by 4.77 percent to SR12.97. 


Saudi Data and Artificial Intelligence Authority, Shareek sign deal to accelerate AI, cloud innovation

Updated 15 July 2025
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Saudi Data and Artificial Intelligence Authority, Shareek sign deal to accelerate AI, cloud innovation

RIYADH: Saudi Arabia’s private sector is set to gain a boost in AI-driven innovation and data capabilities through a new agreement aimed at accelerating digital transformation across key industries. 

The new deal, signed between the Saudi Data and Artificial Intelligence Authority and the Private Sector Partnership Reinforcement Program, known as Shareek, aims to conduct comprehensive market studies and coordinate with relevant authorities, according to an official statement. 

The memorandum of understanding also includes a mandate to develop AI-aligned business models and provide technical consultation services to private sector entities participating in the Shareek program. 

This comes as the Gulf’s largest economy positions itself as a global AI hub under its Vision 2030 strategy, which targets $135.2 billion in economic value from the technology by the end of the decade. 

The same roadmap aims to raise the private sector’s contribution to gross domestic product to 65 percent by 2030, signaling a shift toward tech-led diversification away from oil dependency. 

In a post on X, SDAIA stated that the MoU also seeks to “develop investment opportunities in cooperation with relevant authorities” and to “develop business models for both parties, in accordance with established procedures.” 

It added that the agreement will also focus on “identifying and prioritizing investment opportunities and providing specialized technical consultations,” as well as “sharing investment opportunities with the sector and relevant authorities to join the Private Sector Partnership Reinforcement Program – Shareek.”

Launched in 2021, Shareek is a flagship public-private partnership program aiming to unlock SR5 trillion ($1.33 trillion) in investments by 2030. It supports large Saudi companies in accelerating growth and driving economic development. Its collaboration with SDAIA highlights its role in advancing large-scale digital transformation.

The development comes as the Kingdom expands its global tech alliances, with SDAIA signing an MoU with Advanced Micro Devices, or AMD, on the sidelines of the Saudi-US Investment Forum in Riyadh in May to strengthen the AI ecosystem. 

The agreement aims to develop specialized AI data centers powered by AMD technologies, supporting the Kingdom’s efforts to build a robust digital infrastructure.

These developments come as Saudi Arabia’s global AI standing continues to rise, with the Kingdom ranking third worldwide in the OECD AI Policy Observatory in December, behind only the US and the UK.