By: AGBI

Foreign direct investment into Qatar climbed to QAR157 billion ($43.3 billion) by the end of the third quarter, rising 7 percent from the previous three months, according to official statistics.

More than 95 percent of the investment was focused on five main economic activities, the state-run Qatar News Agency reported, quoting the National Planning Council’s survey.

Mining and quarrying received the highest FDI at 44 percent, followed by financial and insurance activities (32 percent), manufacturing (15 percent), professional, scientific and technical business (5 percent) and public administration (2 percent).

The report said the growth was driven by a stable business environment, underpinned by clear economic policies and development plans.

The quarterly outward FDI increased by 3 percent at the end of the third quarter, which the survey said reflects the growing presence of Qatari investments in the global investment landscape.

More than 90 percent of outward FDI was also concentrated in five areas: financial and insurance activities (33 percent), mining and quarrying (27 percent), information and communication (12 percent), transportation and storage (11 percent) and arts, entertainment and recreation (7 percent).

An IMF team met Qatari officials in Doha earlier this month as part of the fund’s annual assessment of the Gulf state’s economy and found the country to be highly resilient against a volatile geostrategic environment.