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Qatar to allow full foreign business ownership in all sectors

Qatar ministers have taken measures to issue a draft law that will allow 100% foreign ownership of businesses in all economic sectors, Bloomberg News reported May 24, citing the official Qatar News Agency.

Foreign investors will be able to own 49% in listed companies or take larger stakes upon government approval. Qatar will also provide incentives to promote foreign investment but no details on when the law will be enacted were disclosed.

Qatar's emir issued a directive in 2017 to open up the country's economy to foreign investors after Saudi Arabia, United Arab Emirates, Bahrain and Egypt severed diplomatic and trade ties with the country.

Qatar's incentives go further than the measures approved earlier in the week of May 21 by U.A.E. to allow full foreign ownership in certain industries.