Qatar is looking at transforming Doha into the Silicon Valley of the Middle East. Doha, the capital of Qatar, doubles as the most populous city with a population of over 1 million people. The Qatar government has taken the bold step of diversifying the country’s economy from Crude Oil into science and technology, health, and agriculture. This led to the introduction of QSTP (Qatar Science & Technology Park), which is opened for many foreign investors and tech startups to come to invest in the city of Doha.
Why New Tech Start-Ups Are Choosing Doha as Their Business Destination.
Doha poses to be a good location for tech startups because of the innovative minds scattered around the town and the entrepreneurial aura of Doha. All startups want a good return for every penny they’ve invested in their business.
This article is focused on why tech startups should consider building their business in Doha.
Doha is a land of abundance and opportunity with readily available markets for your tech products or ideas. All you need to do is make sure you deliver enough value for your customers and watch the money roll in.
Reasons why you should Choose Doha as a startup
- Doha is the capital of the world’s most prosperous nation: according to the data gathered by the IMF (International Monetary Funds), Qatar emerged as the wealthiest country in the world, with a significant amount of its revenue coming from Oil. The Qatar government is looking for a way to diversify into technology, which is one of the reasons you should consider starting your tech company in Doha. Investing in Doha, you can be assured of the government supporting your business. Doha has lots of favorable policies for not just tech startup companies but all businesses, from policies such as tax-free salaries and amazing compensation packages, to mention a few.
- Doha is one of the most peaceful city all over the world. The Global Peace Index has honored Qatar more than eight times for being the most peaceful nation in the middle east. Don’t be too bothered about your safety or the safety of your business, because your safety is guaranteed in Doha.
- Doha has proven to be a haven for not only local but foreign investors: The Qatar government welcomes local and foreign tech investors who are willing to invest in their economy. The Qatar government offers good policies that help in the growth of both SME (small scale enterprise) and MDE (medium scale enterprise)
- Gathering a team of expatriates is no big deal in Doha: a lot of skilled and well-experienced workers are scattered all around Doha. Most job seekers want a greener pasture in Qatar, and Doha city seems to be the surest bet for them to secure their dream jobs and prove their capabilities. Most Oil companies and cooperate organizations operating in Qatar have their headquarters in Doha, which makes it a bit easier to gather a team of skilled employees and provides a market for your tech ideas. You are likely to get investors for your idea in the city of Doha.
- Qatar’s economy has been growing steadily: the growth of the economy has been very beneficial to most foreign and local investors. Most foreign investors are willing to invest in the growing tech economy in the city of Doha because of the policies made by Qatar’s government. The right time to startup your tech business/company in Doha was yesterday; another right moment to take the bold step is today.
- Qatar gives Tax Incentives to all Businesses: The Qatar government supports all businesses by giving them tax incentives. Cooperate companies in Doha enjoy as low as 10% off their corporate tax and 5% off for all import duty tax. No income tax or export tax is deducted from your income monthly/yearly. All these incentives make it easier for a startup to launch and run a tech business in Doha.
Qatar used to be one of the poorest nation in the middle east before it rose tall, all because of the proper management of its resources. The Qatar government wants to diversify into technology, which means now is the right time to invest in the Qatar’s growing economy.
If there is a value, there is a market to pay for that value.