Like its neighbours across the Gulf, Qatar has spent more than a decade building an economy that can generate growth beyond oil and gas. Foreign investment has been a catalyst for that ambition, but rather than chasing scale for its own sake, Qatar is taking a more calculated approach, becoming increasingly selective about the companies it attracts and what they bring with them, writes Thomas Jennings**.
Advanced manufacturing, logistics, technology and financial services are among the industries it’s targeting. That means attracting companies prepared to put meaningful capital and operations into the country.
And it’s prepared to pay for them.
The country’s US$1 billion (QR3.64 billion) incentives programme, launched in May 2025, can cover up to 40 percent of eligible local investment costs over five years. But there’s a fairly high bar for accessing it. Applicants generally need to invest at least QR25 million and create high-skilled jobs, with further criteria depending on the sector.
EnergyX is a good example of what that can look like in practice.
The US energy technology company isn’t just opening an office in Qatar. It’s establishing its international headquarters and global command centre there, alongside AI-powered energy operations, global export management and a smart manufacturing facility.
More than 140 jobs are expected over five years, with partnerships also planned with Qatari universities and research institutes.
One investment, in other words, can bring capital, jobs, technology, manufacturing capability and research relationships into the country at the same time.
Look at Qatar’s wider Foreign Direct Investment figures and a similar picture starts to emerge.
The country attracted 373 projects in 2025, up 52 percent in a year. They brought US$3.4 billion (QR12.38 billion) in capital expenditure and more than 15,000 jobs. Those are impressive headline numbers. But what’s underneath them is arguably more interesting.
More than half of the capital went into greenfield projects, while nearly one in two projects were in medium- or high-technology sectors.
That’s a much better indication of what Qatar appears to be trying to achieve.
The real prize isn’t winning a regional race to attract the greatest number of foreign companies. It’s using foreign investment to build capabilities the economy can keep.
The useful number isn’t how many foreign companies Qatar can attract.
It’s how much each one brings with it.
Thomas Jennings is the founder of Midas Media Company and a writer specialising in business and investment across the GCC. His work focuses on the regulatory, economic and commercial developments shaping how companies and investors operate across the region.
