Qatar Tops MENA in Business Environment Improvements: EIU Report

Qatar, 18 July, 2024 : Qatar has been recognized as the most improved country in the MENA region for business environment, according to a recent report by the Economist Intelligence Unit (EIU). The report, titled “Business Environment Rankings: Assessing the Best Places for Doing Business,” highlights Qatar's 0.93 point improvement in its business environment index from 2019-2023 to 2024-2028, with significant advancements in financing.

The EIU’s index evaluates 91 indicators across 11 categories, including political environment, macroeconomic environment, market opportunities, foreign investment policies, and infrastructure. Qatar’s $220 billion investment in infrastructure over the past decade, including the expansion of Hamad International Airport and improvements in road and tourism infrastructure, has greatly benefited its business environment.

Qatar ranks fifth among the most improved countries globally, with Greece leading the list, followed by Argentina, India, and Angola. The report predicts continued strong growth for Qatar and India, driven by policy improvements and infrastructure investments.

Minister of Finance Ali bin Ahmed Al Kuwari emphasized Qatar’s focus on economic diversification, targeting logistics, ICT, manufacturing, and tourism as key sectors. “We are focusing on economic diversification, enabling the private sector, and balancing development in human capital, health, education, technology, and sustainability,” Al Kuwari stated at the Qatar Economic Forum 2024.

The report also highlighted Greece's improvements due to reforms by the pro-business government led by the New Democracy party, resulting in tax cuts and increased business confidence.

Source :www.zawya.com