Qatar set to launch new FDI law by the year-end: MEC official

Qatar is all set to introduce a new foreign direct investment (FDI) law allowing 100 percent foreign investment in all sectors by the end of this year, a senior official of the Ministry of Economy and Commerce (MEC) said on Tuesday. MEC Business Development and Investment Promotion Director Abdulbasit Talib al Ajj said the new FDI law will exempt invested foreign capital from income tax for up to 10 years for specific investment projects as well as abolish taxes and customs duties on imported equipment and raw materials."The draft law that aims to attract non-Qatari capital to the country and promote economic development is ready and is expected to be launched anytime soon," he said. ” Satyendra Pathak