Doha, June 26 (QNA) - HE Minister of Commerce and Industry (MOCI) Sheikh Mohammed bin Hamad bin Qassim Al-Thani issued, on Wednesday, Ministerial Resolution No. (60) for the year 2024, reducing the Ministry's service fees for the commercial, industrial, business development, and consumer protection sectors, down by up to 90 percent on some services, with the aim of supporting Qatar's economic growth, encouraging national and foreign projects, and creating an attractive commercial environment for investment in the country.

The ministerial decision comes into effect on the day following its publication in the Official Gazette.

HE the Minister of Commerce and Industry said that these reductions come in the context of the Ministry's strategy to enhance the investment environment and develop the commercial, industrial, and business development sectors in Qatar, in line with the goals of the Third National Development Strategy 2024-2030, of achieving sustainable economic growth, economic diversification, and developing the business environment in pursuit of the Qatar National Vision 2030.

His Excellency added that the resolution will support national projects and entrepreneurs, both individuals and companies, significantly enable investors to access quality services at reduced fees, enhance competitiveness, support new projects, and encourage investors to expand their operations and innovate in diverse projects.

HE the Minister of Commerce and Industry said that this will attract more foreign investments and enhance the private sector's role in reaching economic diversification and sustainable economic development.

HE Minister Al-Thani affirmed that Ministry's continuous efforts to develop its services to provide an ideal and flexible experience for local and foreign consumers and investors, thus reinforcing Qatar's position as an attractive investment destination.

The Ministry of Commerce and Industry evaluated and determined the reduced fees for services following a thorough study of business environment requirements and investor needs.

The reduced service fees include: Commercial Registration, Commercial Permit, Commercial Agents Registry, Commercial Company Services, Practicing Consultancy Services, Auditors, Quality Licenses, Patent Services, Protection of Designs and Industrial Models, and Industrial Development Services.

The resolution is expected to have a positive and significant impact on services related to setting up a company, commercial registration issuance, and commercial premises licensing, with new commercial registration issuance fees set at only QR 500, and likewise for commercial permit issuance fees, to encourage and support new projects and businesses in Qatar. (QNA)