Qatar has taken many measures in the past to make its economy investor friendly. These measures have been praised by many global organisations in the past and now the World Bank has also corroborated these efforts.
Qatar has significantly improved its ranking in the several indexes of the World Bank’s Ease of Doing Business 2020 report, including registration of ownership, where Qatar has ranked first in the world.
According to the World Bank’s report, Qatar has ranked 77 on this year’s ease of doing business, an improvement from its ranking of 83rd in last year’s study.
The improvement in country’s ranking is the result of the efforts of the Ministerial Group for the Encouragement and Participation of the Private Sector in the Economic Development Projects, which was signed earlier this year an agreement with the World Bank Group. It was aimed at promoting and expanding private sector-driven growth.
These reforms and improvements were witnessed in several sectors during the past year. The measures included simplifying and integrating procedures, as well as providing regulatory, legislative and digital frameworks in business.
This ranking also reflects the solid national will of various government agencies to implement the directives of the Amir H H Sheikh Tamin bin Hamad Al Thani to work on the completion of development projects and to strengthen the national economy.
One of the highlights of the report was Qatar’s ranking on the global property registration procedure index, where the country has improved its rank from 20th in 2019, to the first place globally in 2020 classification.
The Ministry of Justice continues to modernise and develop the performance of the real estate registration and documentation sector to enhance and improve the services provided to the public, including individuals, companies and investors.
The real estate registration and documentation sector at the Ministry of Justice has witnessed a number of measures aimed at developing and improving the business environment that have contributed in securing this rank.
The Ministry has also announced that new e-services will be announced soon, which will save time and efforts and bring the ministry closer to the public.
Country’s reform policies and its efforts to improve its trade regulations have enabled it achieve this stellar performance. These measures will ensure that Qatar remain preferred business and financial center for investors and entrepreneurs in the region.
