QATAR’S private sector has shown resilience in 2020, despite the challenges posed by COVID-19 outbreak. Government’s role was crucial in helping the private sector as it took several measures to encourage the private sector. The government introduced several measures and one of the important step was introducing the Public-Private Parntership Law. This law will enhance cooperation between public and private sector in the country. Qatar’s much-awaited Public-Private Parntership Law was enacted on May 31, 2020. Amir H H Sheikh Tamim bin Hamad Al Thani issued the Law No.12 of the year 2020, or the PPP Law, which was hailed by officials as well as market players from both the government and private sectors in the country. The new PPP Law is expected to accelerate Qatar’s massive infrastructure development and provide greater support to the private sector and foreign investors. Qatar’s PPP Law includes the allocation of land through rent or use licence, for development by the private sector through build-operate-transfer (BOT), build-own-operatetransfer (BOOT), and operations and maintenance (OM) among other provisions. While several PPP projects have already been launched in Qatar, studies show that having a well defined PPP policies and legal framework is crucial to the success of implementing the PPP initiatives. In line with the Qatari government’s support to the private sector, the Qatar Development Bank (QDB), in April, has also launched its FinTech Incubator and Accelerator programs. The Qatar FinTech Hub (QFTH), which was established in alignment with the Qatar FinTech Strategy under the chairmanship of the Qatar Central Bank (QCB), aims to be a global epicentre and a FinTech hub for the region. Catering to both local and global FinTech entrepreneurs and startups who are looking for a launchpad and a hub in the Middle East to accelerate their growth at an international level, the FinTech Programs comprise of an Incubator for early-stage startups, and an Accelerator for mature FinTechs. The QFTH’s incubator and accelerator programs have already gained traction and attracted both local and global recognition. It has already entered into 32 local and international partnerships, while the program’s Wave 1 has also received about 750 applications from 72 countries. Most recently, the QFTH has also announced that the registration for Wave 2 of its flagship Incubator and Accelerator programs are now open. Both programs are set to start in March and will run until June 2021. With support of conducive policy measures and support from government, Qatar’s private sector will play important role in country’s economic growth.
