DOHA: The ‘1000 Opportunities’ initiative which offers small and medium-sized enterprises the opportunity to develop their products and services in the Qatari market has received over 1,200 applications currently.

The initiative launched by the Ministry of Commerce and Industry (MoCI) in 2022 saw 346 applicants in August 2022 which increased to 713 by December of the same year and reached 1,044 applications by March 2024.

According to the official data from the Ministry, the number of applications submitted to benefit from the 1000 Opportunities initiative has reached 1,204, which shows an addition of 160 applicants representing a surge of 15.32 percent when compared with applications received by March 2024. This service allows local investors to obtain investment opportunities offered by major foreign and local companies operating in Qatar.

The 1000 Opportunities initiative is an electronic platform that allows local investors to view the opportunities offered by major foreign companies in various sectors including food distribution, communications, general contracting, public services and others. The initiative opens new horizons for the private sector and enhances partnership between the public and private sector in Qatar. Some of the companies part of the initiative include talabat, CCC Contracting, Lulu Hypermarket, Alshaya Group, General Electric, Power International, and Ooredoo.

It aims to foster collaboration between the public and private sectors, creating a dynamic platform for local investors to engage with major national and international companies operating in the country. MoCI through its various initiatives has made it easier for investors to invest in the country. Meanwhile, the Business Map portal of the ministry revealed that the total number of commercial establishments has reached 183,944 organisations, of which 12,860 establishments were registered in 2023 while 5,454 were registered during the last six months and 2,328 during the last three months.

The portal available on the ministry’s website provides a comprehensive database of investment incentives across Qatar’s various regions and enables users to access data on commercial establishments throughout the country.

The initiative falls in line with the ministry’s commitment to creating more transparent and efficient services.

This follows the requirements of Law No. (1) of 2020 on the Unified Economic Register, which aims to support the transparency of economic and financial transactions by compiling basic information, data, and documents for economic establishments, legal arrangements, non-profit organisations, and free-lancers, and making them available to the public and to stakeholders. This step also aligns with the Financial Action Task Force (FATF) requirements. The Business Map portal provides a comprehensive database for users, allowing them to view the investment advantages of Qatar’s various regions through a search service for commercial establishments per region, and for the various available commercial activities.

The portal also offers statistics on the number of commercial licenses registered in each municipality, new and signed-off commercial licenses, and the latest commercial establishments registered in Qatar.

Recently, Qatar was ranked as country with the biggest improvement in the business environment index in the MENA region, according to a report by the Economist Intelligence Unit (EIU).