Qatar "wants to attract more sports companies to the Gulf state," aiming to develop a $20B sports sector ahead of the 2022 World Cup, a senior official said on Sunday, according to Eric Knecht of REUTERS. Qatar Financial Center -- which licenses foreign companies, mostly in the finance sector, to "exempt them from local ownership laws" -- aims to license about 150 sports companies by '22, including around 25 this year, QFC CEO Yousuf Al-Jaida said at an event to announce the strategy. He "did not give any names." The drive to attract sports-related multinationals and facilitate the commercialization of sports-related services in the state "is part of plans to become a regional hub for sporting events" ahead of the 2022 World Cup, he said. Al-Jaida added, "We’re looking at sports service companies, legal companies, education and training, sportswear and equipment ... it’s a detailed cluster of sports companies catering to 2022." Last year, QFC announced plans for "new incentives, like free office space and seed capital," to compete with neighboring Dubai (REUTERS, 2/17).
