In line with Qatar National Vision 2030 which aims, among other things, to attract foreign direct investment (FDI) and to establish a knowledge-based and diversified economy, the Qatari government enacted Qatar Law No. 1/2019 regulating the investment of foreign capital in economic activity in the country. Qatar Law No. 1/2019, which came into force on 25 February 2019, repealed and replaced Qatar Law No. 13/2000. It is hoped that an increase in FDI will bolster economic growth and facilitate the spread of technology and know-how throughout the Qatari market. Many provisions of Qatar Law No. 1/2019 introduce significant improvements over Qatar Law No. 13/2000. For example, under Qatar Law No. 1/2019, foreigners can invest in any of Qatar's economic sectors save for a few exceptions; the fairness of the application process is ensured; foreign investors are eligible for significant incentives; and these investors have access to alternative forms of dispute resolution. By enacting Qatar Law No. 1/2019, Qatar has taken another step towards improving its legal framework for foreign investment and thereby creating a more business friendly environment for foreign investors, as discussed in this article.
This article was originally published by LexisNexis.