(MENAFN- Gulf Times) The Qatar Financial Centre (QFC) has been recognised by the International Finance Magazine (IFM) as ‘Best Private Sector Developer' for its efforts to diversify Qatar's economy.
The QFC Authority manages and maintains the QFC legal and tax environment, and licenses firms to conduct business in or from the QFC. The authority also develops relationships with the global financial community and other key institutions, both within and outside Qatar, helping to develop the country's private sector.
QFC Authority CEO Yousuf Mohamed al-Jaida said: 'Since our establishment, we have worked to develop and diversify Qatar's private sector in line with the objectives set out in the Qatar National Vision 2030.
'Now, more than ever, we will continue to support the development of a world-class financial and non-financial service industry and broaden our platform to cater to the needs of the country and reaffirm our economic attractiveness as a nation.
He continued: 'On behalf of everyone at the QFC, I would like to thank the IFM award committee for their vote of confidence in our management, professionalism, and accomplishments. This award is further proof of the QFC's continuous efforts to fulfil its mandate of diversifying Qatar's economy.
The IFM recognises and honours individuals and organisations in the international finance industry that make a significant difference and add value. The award comes after the QFC's recent announcement of its first half results for 2017, which saw a 41% increase in the number of firms licensed compared to H1 2016.
The firms, which come from a variety of sectors, originate mainly from Europe, the Middle East and North Africa, and the Asia Pacific region.
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