QIDBQatar Industrial Development Bank
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Although still operating on a much smaller scale, the private industry sector is developing, encouraged by the formation of the Qatar Industrial Development Bank (QIDB), talk of an ease in restrictions in foreign investment (which would do away with the requirement for 51 per cent Qatari investment in companies operating in the State), and the opening of the Doha Securities Market (Stock Exchange) to non-Qatari investors.
The QIDB was negotiating, in May, with a German company to set up a joint stock venture in Qatar with a capital of QR120 million, for the manufacture of medical equipment.