Qatar- among best countries for business
According to Forbes magazine, Qatar is ranked 40th in its list of the best countries for doing business in.
Some of the contributing factors for Qatar's economic growth are:
- Strong economic fundamentals
- Low inflation
- High per capita GDP
- Huge proven reserves of hydrocarbons
- high public sector spending on large-scale infrastructure projects
Compared to its neighboring GCC countries, Qatar was ranked lower than UAE, which placed 31st on the list, but beating Saudi Arabia (56th), Oman (58th), Bahrain (59th) and Kuwait (76th).
Forbes determined the ‘Best Countries for Business’ by grading 145 nations on 11 factors, including property rights, innovation, taxes, technology, corruption, freedom (personal, trade and monetary), red tape, investor protection and stock market performance.
Forbes also said that Qatar's oil and gas still account for more than 50 percent of its GDP, roughly 85 percent of export earnings, and 70 percent of government revenues.
Other stats about Qatar:
In terms of trade freedom, Qatar is ranked 54th, and on monetary freedom it is placed 25th. On property rights it is ranked 20th, on innovation 16th, on technology 31st, on red tape 91st, on investor protection 103rd, on corruption 26th, on personal freedom 117th, on tax burden second, and on market performance 28th.
The top 3 countries for being the best for doing business are:
- Ireland
- New Zealand
- Hong Kong
Source: The Peninsula
Can a multinational confectionery company (ex. Mars) enter Qatar?, is there a free zone area for that or it has to have a local partner??
Qatar is a really good place to do business if you like it the 51% rule if you don't just go to Dubai or the country your talking about.
There are a lot of small businesses that are doing really good and if you spend the time and effort to move you would find a good place with a reasonable rent but if you just sit and wait for rents to drop this will never happen.
Face it Qatar is a good place for business and most of you guys dream to start businesses here but never got the opportunity to start one.
Equin0x : did you ever own a business or tried to start one before crying about the topic
Qatar is a really good place to do business if you like it the 51% rule if you don't just go to Dubai or the country your talking about.
There are a lot of small businesses that are doing really good and if you spend the time and effort to move you would find a good place with a reasonable rent but if you just sit and wait for rents to drop this will never happen.
Face it Qatar is a good place for business and most of you guys dream to start businesses here but never got the opportunity to start one.
Equin0x : did you ever own a business or tried to start one before crying about the topic
An estimate suggests that the businesses do sale volume of over Qar. 35 billion in one year, and an analysis would reveal that more than Qar. 30 billion (86%) is grabbed by only a few dozen big business groups who are allowed to branch out into every field, which as a result does not allow others to successfully enter the market and grow. There is a need to cap the groups to have only six or eight branches to operate, that in return would diversify, deepen, broaden and expand the market quickly which would be a real and fruitful incentive to the young Qatari entrepreneurs as well.
An estimate suggests that the businesses do sale volume of over Qar. 35 billion in one year, and an analysis would reveal that more than Qar. 30 billion (86%) is grabbed by only a few dozen big business groups who are allowed to branch out into every field, which as a result does not allow others to successfully enter the market and grow. There is a need to cap the groups to have only six or eight branches to operate, that in return would diversify, deepen, broaden and expand the market quickly which would be a real and fruitful incentive to the young Qatari entrepreneurs as well.
An estimate suggests that the businesses do sale volume of over Qar. 35 billion in one year, and an analysis would reveal that more than Qar. 30 billion (86%) is grabbed by only a few dozen big business groups who are allowed to branch out into every field, which as a result does not allow others to successfully enter the market and grow. There is a need to cap the groups to have only six or eight branches to operate, that in return would diversify, deepen, broaden and expand the market quickly which would be a real and fruitful incentive to the young Qatari entrepreneurs as well.
An estimate suggests that the businesses do sale volume of over Qar. 35 billion in one year, and an analysis would reveal that more than Qar. 30 billion (86%) is grabbed by only a few dozen big business groups who are allowed to branch out into every field, which as a result does not allow others to successfully enter the market and grow. There is a need to cap the groups to have only six or eight branches to operate, that in return would diversify, deepen, broaden and expand the market quickly which would be a real and fruitful incentive to the young Qatari entrepreneurs as well.
An estimate suggests that the businesses do sale volume of over Qar. 35 billion in one year, and an analysis would reveal that more than Qar. 30 billion (86%) is grabbed by only a few dozen big business groups who are allowed to branch out into every field, which as a result does not allow others to successfully enter the market and grow. There is a need to cap the groups to have only six or eight branches to operate, that in return would diversify, deepen, broaden and expand the market quickly which would be a real and fruitful incentive to the young Qatari entrepreneurs as well.
Dargon Mart from China has recently been allowed to open their mega mall, which again would virtually kill off hundreds of small businesses that are actually importing and selling the Chinese products. The protection to small businesses is truly non existent.
The other curious thing about that list is that Qatar has lost its "richest country in the world" crown. According to Forbes, the GDP per capita of Qatar is approx $89k, compared to Luxembourg at $110k and Norway at $106k.
Can we now stop with this ridiculous claim that Qatar is the richest country in the world?
The real problem is the lack of free zones, which are the driver of economic growth in places like Dubai.
For instance, why would a foreign company invest in Qatar, if on paper 51% of their company needs to be "owned" by a national, who will contribute very little, demand a cut of the profits, and can hold the company ransom with exit permits, visas, etc?
Any wonder the UAE is 31, and Qatar is down the list at 40. And think about it, there are 39 countries in the world where business would rather be than Qatar, so that's practically EVERY western and east asian country. I
Despite the above, 90% of small businesses fail and die out in the first two/three years, because of the following facts:
1. Very high rents of shops and warehouses that are the real enemy of all small businesses. Barwa Real Estate Company is the main player of rental increase due to its monopolist mega position. Barwa should not be allowed to build more shops, if the country wants to have fair rents and promote businesses on long term basis.
2. Non availability of workers of your choices due to work NOC rule which is denied to vast majorities.
3. Virtually non availability of funding to small businesses that squeeze down the businesses.
4. Fierce competition and as a result very low profit margin.
5. Very small size of the market, a few new big business groups just enter, grab away the major chunk and leave others crying and dying.
6. Ineffective Chamber of Commerce which does not even record the data of failing and closing businesses with the reasons in order to know what is happening on the ground in reality.
7. No training, workshops and info. support to the expatriate businessmen who virtually are responsible to run the show.
8. No advice is sought by the expatriates which is why the govt. remains unaware of the ground facts of small players who are more than 90% of total private market.
9. No market credit control system available which is another major and rampant cause of cash flow problems in the market.
10. Given the strong fundamentals of country, the country's businesses can compete and grow in the region, only if the above facts are taken into account.