The Investment Promotion Agency in Qatar confirmed the provision of new investment opportunities for the halal economy in Qatar to investors as one of the promising opportunities in the Qatari economy. This is within the framework of Qatar’s endeavor towards an integrated business program for economic diversification. The agency said in a report that the global halal products market is expected to record exceptional growth and revenue of $ 7.7 trillion in 2025. The Gulf Cooperation Council countries and Qatar, which Muslims constitute most of its population, will witness significant growth as a center for the global halal product market.
Qatar is one of the first three countries in the Organization of Islamic Cooperation to lead the committed media and the conservative Islamic lifestyle, and the increase in the Muslim population and the halal consumption pattern push the wheel of strong and escalating growth of the halal economy.
Investment attraction factors
The agency explained a set of factors that pose this type of investment in the forefront that the majority of the population of Muslims – more than 80% of the population of Qatar Muslims, – is ranked among the three best countries in the Organization of Islamic Cooperation for Media Services and Islamic Lifestyle, and among the best countries in Islamic tourism, and hosts activities such as the annual Halal Qatar Festival.
Qatar is one of the accreditation centers of the Organization of Islamic Cooperation to issue halal certificates, and Qatar is a center for excellence in the economy and Islamic finance, and Islamic banks have the largest share in the Islamic Finance Market, and various Islamic academic programs are available. Qatar National Vision 2030 leads the halal economy as a decisive element to achieve national goals, and Qatar classifies among the top 10 universal economies, and the Ministry of Trade and Industry launched the “Halal Live” program.
The report added .. This booming sector, which adheres to Islamic principles and values, includes a wide range of sectors, starting from financing to food, medicines, travel, cosmetics, and fashion. In recent years, the halal economy has gained widespread attention and increasing investments in light of an annual growth rate expected to reach 9.2% between 2015 and 2025. As the halal economy continues to expand and diversify, it provides a unique opportunity for companies and investors to benefit from the growing consumer market who seek to obtain halal products and services within the framework of their moral values.
Qatar is a center for this prosperous sector
According to a specialized study conducted by the Investment Promotion Agency recently on the Halal economy, the Gulf Cooperation Council countries have a good situation that enables them to benefit from the growth of this market, especially in light of the position of the State of Qatar as a center for this prosperous sector. Qatar has proven its leadership in the Halal Food Sector through the presence of major concerned parties in the market, such as the Harvest Food Company, which contributes to enhancing food security, sustainability and innovation. The focus of the State of Qatar on the basic fields with high growth potential resulted in an amazing increase in the size of the Halal Economy Market across multiple sectors.
Qatar continues its efforts and contributions locally and globally in the field of adopting the halal economy, and this is evident in the establishment of the Halal Authority of the Organization of Islamic Cooperation, and the Ministry of Public Health issuing its guide on importing halal food products. Effective parties across multiple sectors support the value chains of the country’s halal economy, starting with the purchase of halal products to their adoption and the adoption of halal standards, logistics services, and distribution to the final users.
Qatar is working to enhance this cooperative spirit through initiatives such as the “Halal Rizk” visual program of the Ministry of Trade and Industry; Which aims to increase awareness about the halal life and the great potential of its Islamic banks, with regard to solidarity and green investments (investments that take into account environmental standards) and issue sukuk.
The climate supporting the business
Thanks to its stable and flexible economy, the climate supporting business, its comprehensive cognitive system, and its wealthy culture, Qatar offers foreign investors an attractive and competitive business environment, and the state aims in the framework of its ambitious national vision 2030 to enhance its position as a leading destination in the fields of trade, tourism and investment in the region, including its halal economy that is classified among the top ten halal economics according to the economy of the economy International Islamic.
On the other hand, the demand for halal products and services is increasing, not only by Muslim consumers, but also non -Muslims, who look at halal products as healthy and safe and compatible with moral standards. It is expected that the volume of media spending for this market will reach 308 billion dollars in 2025, with Qatar maintaining its classification among the three largest countries in the Organization of Islamic Cooperation in the field of media services and lifestyles of an Islamic nature. This growth contributes to the possibility of creating more job opportunities, enhancing innovation and contributing to economic development.
Qatar is constantly seeking to provide opportunities for international companies looking to consolidate its presence in Qatar and the Middle East and expand its access to them. This has become possible through an effective reform agenda, a different set of resources and cadres, and a wide number of supportive factors that combine the most empowering and consistent climate for business in the region. The most important of which is to allow the full foreign ownership of companies in all sectors, a tax on companies at a rate of 10%, tax exemption on personal income, the provision of expanded economic areas (with tax exemption periods), agreements to avoid tax double with more than 80 countries, and not to impose restrictions on transferring profits, and the availability of international judicial services by the Qatar International Court and the Dispute Resolution Center.