Fee adjustment highlights Qatar Chamber 2024 achievements to support economic growth, diversification

The adjustment of fees for certain services provided by Qatar Chamber is considered one of this year’s key highlights in its role as one of the leaders in the country’s economic diversification and growth.

Cabinet Decision No 19 for 2024 was ratified by His Highness the Amir Sheikh Tamim bin Hamad al-Thani, a move that aligns with the strategic objectives of Qatar’s Third National Development Strategy (NDS3) 2024-2030, stated Qatar Chamber chairman Sheikh Khalifa bin Hamad al-Thani.

Sheikh Khalifa explained that the recent decision was intended to ease the financial pressures faced by Qatari companies. He noted that the initiative also seeks to provide relief and support to businesses, enabling them to navigate economic challenges more effectively. By alleviating these financial burdens, the decision aims to foster a more stable and prosperous environment for local enterprises to thrive, he pointed out.

In a recent edition of Al Moltaqa, the chamber’s economic magazine, Sheikh Khalifa stated that Qatar Chamber, which was established to address the needs of the country’s economy and the private sector, “believes that the decision to ease the financial burden of Qatar’s SMEs and large companies coincides with the reduction in cost for certain services recently approved in some ministries and government institutions.”

“This will also create a positive impact and constitutes a motivating factor for companies operating in Qatar and encourages investors,” the Qatar Chamber chairman further pointed out.

Sheikh Khalifa emphasised that the decision aligns with the chamber’s mission to represent, support, and protect the interests of Qatari businesses. This includes highlighting opportunities across various industries, supporting economic development and productivity, and attracting foreign investments for the overall benefit of the country and the chamber's member companies.

According to the Cabinet's decision, membership fees for shareholding companies, holding companies, and foreign companies involved in state contracts have been reduced by 50%.

For other company types, such as limited liability companies, general partnerships, simple partnerships, joint ventures, and partnerships limited by shares, the annual membership fees are standardised, regardless of capital or business activity.

The decision also includes a reduction in fees for issuing ATA Carnets and arbitration requests. The fees for other services, such as authentication and certification, will remain unchanged under Law No 11 of 1990, which established the Qatar Chamber.

“This step will undoubtedly support economic growth and create a favourable environment for investment in Qatar,” stated Sheikh Khalifa, who further emphasised that the chamber is committed to empowering the private sector to fully participate in the comprehensive development journey.

Sheikh Khalifa stated that 2024 was highlighted with significant activities, achievements, and initiatives within the chamber. These aligned with the state’s efforts to achieve comprehensive and sustainable development under the Qatar National Vision 2030. “This is particularly relevant following the launch of the NDS3, which emphasises sustainable economic growth,” he added.