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QFC records 63.7% growth amid global economic slowdown

19 Jan 2021 - 8:08
The Peninsula
Doha: The Qatar Financial Centre (QFC), a leading onshore financial and business centre in the region, has announced a significant increase of 63.7 percent in the number of new firms licensed on the QFC platform in 2020, compared to 2019. The QFC registered 334 firms in the year to December 31, 2020, compared to almost 200 firms registered over the same period in 2019.
Ending the year on a high note, the QFC maintained its business growth for the 8th consecutive year, despite the unprecedented global economic slowdown as a result of the COVID-19 pandemic.
The expansion of the QFC-registered firms, which represents a variety of industries, both financial and non-financial services, included a record increase of 139.5 percent in the digital sector. Given the tremendous opportunities that emerged in the technology and digital sectors amid the COVID-19 outbreak, and backed by the QFC’s fintech services provider license, the pla ....

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