Media City Qatar (MCQ), set up to attract and regulate investment opportunities to support the media ecosystem, has signed a deal with Qatar Financial Centre Authority (QFCA).
Under the Memorandum of Understanding (MoU) deal, the QFC will register media companies pre-approved by MCQ, which will be licensed by both parties.
This partnership allows licensed companies to conduct business in Qatar according to MCQ’s allowed activities.
The QFC will support all necessary governmental procedures and tax-related processes in line with the legal framework and regulations.
Meanwhile, MCQ will oversee the companies’ compliance with the applicable regulations for media entities in the country.
The two will also work to promote each other’s programmes, activities and evaluate opportunities for mutually beneficial projects toward developing the media sector in Qatar.
His Excellency Sheikh Dr. Abdulla bin Ali Al-Thani, Chairman, MCQ, said, “This strategic partnership will empower Media City to attract and license media companies, further enriching Qatar’s vibrant media ecosystem.
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“We extend our gratitude to the QFC Chairman and Minister of Commerce and Industry, His Excellency Sheikh Mohammed Bin Hamad Bin Qassim Al-Abdullah Al-Thani, for facilitating the signing of this pivotal memorandum of understanding, which sets the stage for driving growth in the media industry and contributing to Qatar’s economic diversification.
“We look forward to achieving Media City Qatar’s vision as an attractive destination for local, regional, and international media businesses and initiatives across various scales.”
Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC, added: “We are thrilled about this partnership with Media City, which marks a significant step in fostering media growth in Qatar.
“Through this collaboration, we aim to streamline processes and provide a conducive environment for media companies to thrive in the country. Together with MCQ, we are poised to unlock exciting opportunities and drive innovation in the sector.”
