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Qatar Set To Revamp Laws To Attract Foreign Investment: Aiming For $100 Billion By 2030

by THEFUTURE.TEAM

Qatar is preparing to roll out a trio of new laws aimed at transforming its legal landscape to better appeal to foreign investors, according to the country’s commerce and economy minister. These changes come as part of a broader overhaul across various sectors.

In an exclusive interview with Reuters, Sheikh Faisal bin Thani Al Thani revealed that the nation is set to introduce new regulations governing bankruptcy, public-private partnerships (PPP), and commercial registration. He added that these reforms are part of a larger review encompassing 27 laws and regulations across 17 government ministries, targeting over 500 industries.

Sheikh Faisal highlighted that the new bankruptcy and PPP laws are expected to be finalized by the end of March, marking a significant step in Qatar’s efforts to modernize its economic environment.

Qatar, a global powerhouse in liquefied natural gas exports, has ambitious goals for the future. As part of its national development strategy, the country aims to attract $100 billion in foreign direct investment (FDI) by 2030. However, it faces a considerable challenge, as its FDI inflows have lagged far behind those of neighboring countries, notably Saudi Arabia and the UAE.

In 2023, Saudi Arabia’s FDI inflows reached $26 billion, boosted by new calculations in its FDI reporting, while the UAE, renowned for its business-friendly environment, attracted just over $30 billion in foreign investment. In stark contrast, Qatar experienced a negative FDI inflow of $474 million in 2023, following a decline from $76.1 million the previous year. This suggests that Qatar saw more disinvestment than new capital entering the country.

Despite offering similar incentives to investors—such as attractive tax rates, free zones, and long-term residency options—Qatar has struggled to keep pace with its regional competitors in terms of regulatory reforms and business-friendliness. The new laws are part of Qatar’s broader strategy to activate its private sector and reduce its reliance on state-funded growth.

Sheikh Faisal, who joined the government in November, previously served as the chief investment officer for Asia and Africa at the Qatar Investment Authority, the nation’s $510 billion sovereign wealth fund. His background is expected to play a key role in driving forward the country’s ambitious investment goals.

Only 1% Of Cyprus Farms Use Precision Farming Technologies

by THEFUTURE.TEAM

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.

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