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QFZA signs deals with two Chinese entities

QFZA signs deals with two Chinese entities

Tribune News Network
Doha
Qatar Free Zones Authority (QFZA) has signed deals with two Chinese entities that will pave the way for bringing Chinese technology and industry resources to Qatar and facilitating cross-border e-commerce.
The partnerships have been formalised at the Qatar-China Free Zones Forum co-hosted by QFZA in Chinese city of Xiamen on Monday, The forum was held as a part of the China International Fair for Investment and Trade (CIFIT), which was attended by a delegation from Qatar.
The agreements were signed with with Capital Nuts, a China-based early stage fund specialising in consumer-focused online technology investments, and Shenzhen Cross-Border E-Commerce Association (SZCBEA), a non-government association focused on driving inter-border E-commerce in China.
Both the agreement signings were witnessed by Minister of State and QFZA Chairman HE Ahmad bin Mohammed al Sayed, who headed the Qatari delegation to China.
QFZA’s MoU with Capital Nuts was signed by QFZA CEO Lim Meng Hui and Capital Nuts’ Chairman Leon Wang.
“Capital Nuts is a leading venture capital firm in China and a global player in e-commerce funding, and we are excited to partner with them as we explore deeper collaboration across the tech sector, a key focus sector for QFZA,” Hui said.
Leon Wang added: “Capital Nuts wants to play an important role to bring Chinese technology and industry resources to Qatar.”
QFZA’s MoU with SZCBEA will establish cooperation guidelines to leverage the booming cross-border e-commerce and modern logistics sector by promoting QFZA’s availability of resources and SZCBEA vast business contacts. Through QFZA’s logistical support, SZCBEA plans to set up a branch in the free zones.The two entities will look to exchange expertise in research and consulting projects, logistics and e-commerce innovation, to support bilateral ties and mutual economic development.
SZCBEA’s members and its strategic partners include major e-commerce players such as DHL, JD and SF Express.
Lim Meng Hui said, “Today’s meetings and partnership with SZCBEA are both a great example of QFZA’s overarching business strategy, which aims to facilitate global partnerships that benefit Qatar’s economic diversification plans and foreign companies looking to expand their presence across the Qatari market.”
Wang Xin, executive president of SZCBEA, said, “Today, we signed the MoU to further promote international cross-border E-commerce business, industrial investment, modern logistics, talents training and other sectors between our two sides, which will help Chinese enterprises enter the Middle East area, and expand to European and American markets.”
The Qatar-China Free Zones Forum highlighted the opportunities for Chinese and Qatari businesses to form partnerships within the free zones, which would benefit Qatar’s economy and encourage more Chinese investors to invest in Qatar, said Qatar Chamber’s First Vice Chairman Mohammed bin Twar, who was part of the Qatari delegation, said.
Administration of Xiamen Area of China Pilot Free Trade Zone, the China Council for the Promotion of International Trade (CCPIT) in Xiamen and the Qatari delegation which includes the Ministry of Foreign Affairs, Ministry of Commerce and Industry, Qatar Central Bank and Qatar Chamber attended the event.
It was also attended by prominent Qatari and Chinese entities, including members of the official Qatari delegation, Xiamen City Mayor Meng Qian, Capital Nuts Chairman Leon Wang and representatives of the Ministry of Foreign Affairs (MOFA), Ministry of Commerce and Industry (MOCI), QFZA, Qatar Central Bank (QCB) and Qatar Chamber (QC).
QFZA recently announced it has attracted and approved investments totalling more than QR1 billion ($300 million) from a range of major international and local companies as well as joint ventures, all within the pre-launch phase of the free zones. Investors from Qatar and abroad can apply to invest and register in the free zones through QFZA.

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