Jordanian Companies Drive Growth in Qatar’s Financial Hub

Doha: Jordanian companies continue to expand their presence within the Qatar Financial Center (QFC), marking a steady increase in the first two months of 2024. Reports reveal that approximately 125 Jordanian companies are currently operating under the QFC umbrella, reflecting a notable growth rate of 4.1 percent compared to the corresponding period in 2023. The QFC stands as a beacon of financial and commercial excellence in the Middle East and North Africa region, drawing in a diverse array of companies from various sectors. Jordanian businesses, in particular, have shown resilience and dynamism within this influential financial hub. According to data sourced from the QFC's official website, Jordanian entities engaged with the center span across a wide spectrum of industries, encompassing services, financial technology, banking, money management, IT, hospitality, professional services, trade, and more. Jordan's prominence within the QFC landscape is evident, with the nation ranking second only to Qatar i n the number of companies operating within the center. The strategic advantages offered by the QFC, including 100 percent foreign ownership, streamlined licensing procedures through a unified e-platform, and a favorable corporate tax regime, have contributed to the attractiveness of the center for Jordanian businesses seeking expansion opportunities abroad. Furthermore, the QFC provides an enabling environment for international trade and investment, facilitating seamless profit repatriation, transparent regulatory frameworks, and efficient dispute resolution mechanisms. Presently, the QFC manages assets exceeding 120 billion riyals ($32.9 billion). The center boasts a diverse ecosystem comprising approximately 2,000 local and international companies, collectively employing over 12,000 professionals across various sectors. The breadth of activities within the QFC spans vital sectors such as health, education, investment, media, sports, retail, logistics, digital services, finance, real estate, and energy. Source: Jordan News Agency