Media City Qatar Chairman H E Sheikh Dr. Abdulla bin Ali Al Thani and Chief Executive Officer of QFC Yousuf Mohamed Al Jaida (left) at the MoU signing.
Doha, Qatar: Media City Qatar (MCQ) has signed a memorandum of understanding (MoU) with Qatar Financial Centre Authority (QFCA) to facilitate the establishment of media companies in Qatar.
MCQ has been established to attract and regulate investment opportunities to support the media ecosystem in Qatar, while QFCA is the legal and tax arm of the Qatar Financial Centre (QFC).
Under the agreement, the QFC will register media companies pre-approved by MCQ, which will be licensed by both the QFC and MCQ. Registration and licensing details will be recorded on the QFC platform. The partnership enables licensed companies to conduct business in Qatar according to MCQ’s permitted activities. The QFC will facilitate all necessary governmental procedures and tax-related processes in accordance with the legal framework and regulations of Qatar. Meanwhile, MCQ will diligently oversee the companies’ compliance with the applicable regulations for media entities in Qatar.
Furthermore, the two parties will collaborate to promote each other’s programmes and activities and evaluate opportunities for mutually beneficial projects toward developing the media sector in Qatar. MCQ Chairman H E Sheikh Dr. Abdulla bin Ali Al Thani said, “This strategic partnership will empower Media City to attract and license media companies, further enriching Qatar’s vibrant media ecosystem."
The MCQ Chairman added: “We extend our gratitude to the QFC Chairman and Minister of Commerce and Industry, H E 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.”
CEO of QFC Yousuf Mohamed Al Jaida underscored the importance of the MoU, stating, “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.” The partnership between the QFC and MCQ signifies a shared commitment to regulatory compliance, operational excellence, and fostering growth in the media sector.
MCQ is an emerging, collaborative global hub for media companies, entrepreneurs, innovators, and creative talent, and a regional leader in the media industry, contributing to Qatar’s economic diversification. From broadcasting to traditional and digital newspapers, from gaming to user-generated content, and enabling AI and advanced technologies, MCQ welcomes media businesses across different media segments of various scales to join.
