Qatar records 25-fold jump in FDI inflow to $30bn in 2022: IPAQ

Doha attracted foreign direct investments (FDI) to the tune of $29.78bn during 2022, which was almost 25 times the value of FDI projects the year before, according to the Investment Promotion Agency Qatar (IPA Qatar).
Investments originating from the US accounted for almost 44% of the total FDI in 2022, with projects valued at $13bn; followed by those from the UK, Italy and France, with each accounting for 21.7% ($6.47bn), 21.2% ($6.32bn) and 11.8% ($3.51bn), respectively, the IPA Qatar said in its annual report for 2022.
In 2022, projects from these four countries constituted nearly 98% of total FDI projects recorded, the report said.
"Last year saw us forge ahead on multiple fronts and across sectors and geographies. It has demonstrated the resilience of the country’s economy, established through a long-term strategy and decades of prudent investments," said HE Sheikh Mohamed bin Hamad bin Qassim al-Abdullah al-Thani, Minister of Commerce and Industry and Chairman of IPA Qatar.
A total of 135 FDI projects were announced in 2022, increasing from 82 projects in the previous year. Business services accounted for almost one-third of the total projects. Software and IT services and financial services followed with each attracting 27% and 12% of the total projects, respectively.
Coal and oil and gas were also among the top sectors that attracted FDI projects. This is mostly due to the global energy crisis aggravated by the war in Ukraine.
Highlighting that FDI projects are estimated to have created a total of 13,972 jobs in 2022; the report said this is more than twice the number of jobs created in the year before.
This year, close to two-thirds of the new jobs were created in the coal, as well as the oil and gas sectors. Software & IT, Business Services and automotive OEM industries also contributed to job creation, it added.
Sheikh Ali Alwaleed al-Thani, CEO, IPA Qatar, said “2022 was a solid steppingstone for IPA Qatar, marked by substantial growth and deepened engagement with the international investment community, which saw us partner with numerous organisations in line with Qatar’s economic diversification efforts."
In the second quarter of 2022, Qatar’s exceptional growth in FDI accounted for a whopping 71% of investments into the Middle East.
Furthermore, Qatar topped the FDI Standout Watchlist, a study conducted by fDi Intelligence that evaluated the macroeconomic and FDI trajectory of the world's top 50 FDI destinations using data from the International Monetary Fund and foreign investment monitor fDi Markets. "This truly demonstrates the country's robust business environment and abundance of opportunities for aspiring investors and entrepreneurs," IPA Qatar said.
Highlighting that the US, the UK and Turkiye topped the countries with regard to partnering with Qatar; the report said as many as 51 leads were generated from the US, 15 from the UK and 12 from Turkiye.
The IPA Qatar established and expanded key partnerships with organisations from the region and globally, including Iberdrola, Microsoft, Invest India and Business France, among others, as part of efforts to strengthen the FDI activities.