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Satyendra Pathak
Doha
Free zones in Qatar are receiving very encouraging response from international investors as a number of global brands have chosen Qatar as a base in the region, Minister of State and Qatar Free Zones Authority (QFZA) Chairman HE Ahmad bin Mohammed al Sayed on Sunday.
Talking to Qatar Tribune on the sidelines of the signing of a memorandum of understanding (MoU) between QFZA and Qatari Businessmen Association (QBA), Sayed said, “There is huge interest among international investors to set up shops at two of the free zones that have become operational. A number of foreign investors are already working on several projects inside the free zones in Qatar.”
“We work not only with globally recognised firms but also SMEs and we have investment funds worth more than QR3 billion dedicated to supporting growth and cultivating an ideal business climate for the benefit of all our partners,” he said.
About the MoU signed between QFZA and QBA, he said, “Private sector in Qatar is playing a vital role in the building the country’s economy. The agreement is aimed at QFZA providing a comprehensive and integrated platform that the Qatari private sector can take advantage of by working with international companies based in the free zones, and expanding its business and partnerships with these companies to enter new markets regionally and globally.”
“This agreement is a strong example of the importance of local partnerships in contribution to the advancement of the national economy,” he said.
The MoU, signed by QBA Chairman Sheikh Faisal bin Qasim al Thani, and the QFZA chairman at the Business Innovation Complex in Ras Bufontas Free Zone, is aimed at joint cooperation between the two entities and benefit from the services provided by them to the local and external investors.
Under the agreement, the two parties will work in tandem to support economic diversification, exchange and share information and cooperate in joint activities to encourage foreign investment in the country.
The agreement will also pave way for the inclusion of officials from both entities to participate in meetings during visits of international delegations to Qatar.
Talking to media persons on the occasion, Sheikh Faisal said, “The QBA will use its network to bring international firms for setting up their operations at the free zones in Qatar. Since its inception, QBA has been seeking to strengthen its partnership with Qatar’s public sector to serve the national economy.”
“Today’s agreement will be vital in attracting foreign investors to Qatar. Investors can benefit from the privileges provided by the Qatar’s government. The investment climate here is very appropriate and great opportunities are available to turn the country into a real workshop,” Sheikh Faisal said.
The signing of the Memorandum of Understanding was followed by an introductory tour of Ras Bufontas where the local businessmen were given a briefing about existing infrastructure and services it provides to
investors.
The signing ceremony was attended by Hussein al Fardan, first deputy to QBA Chairman and a number of QBA board members. QFZA CEO Lim Meng Hui and QFZA Deputy CEO Abdullah bin Hamad al Misnad were also present on the occasion.
Doha
Free zones in Qatar are receiving very encouraging response from international investors as a number of global brands have chosen Qatar as a base in the region, Minister of State and Qatar Free Zones Authority (QFZA) Chairman HE Ahmad bin Mohammed al Sayed on Sunday.
Talking to Qatar Tribune on the sidelines of the signing of a memorandum of understanding (MoU) between QFZA and Qatari Businessmen Association (QBA), Sayed said, “There is huge interest among international investors to set up shops at two of the free zones that have become operational. A number of foreign investors are already working on several projects inside the free zones in Qatar.”
“We work not only with globally recognised firms but also SMEs and we have investment funds worth more than QR3 billion dedicated to supporting growth and cultivating an ideal business climate for the benefit of all our partners,” he said.
About the MoU signed between QFZA and QBA, he said, “Private sector in Qatar is playing a vital role in the building the country’s economy. The agreement is aimed at QFZA providing a comprehensive and integrated platform that the Qatari private sector can take advantage of by working with international companies based in the free zones, and expanding its business and partnerships with these companies to enter new markets regionally and globally.”
“This agreement is a strong example of the importance of local partnerships in contribution to the advancement of the national economy,” he said.
The MoU, signed by QBA Chairman Sheikh Faisal bin Qasim al Thani, and the QFZA chairman at the Business Innovation Complex in Ras Bufontas Free Zone, is aimed at joint cooperation between the two entities and benefit from the services provided by them to the local and external investors.
Under the agreement, the two parties will work in tandem to support economic diversification, exchange and share information and cooperate in joint activities to encourage foreign investment in the country.
The agreement will also pave way for the inclusion of officials from both entities to participate in meetings during visits of international delegations to Qatar.
Talking to media persons on the occasion, Sheikh Faisal said, “The QBA will use its network to bring international firms for setting up their operations at the free zones in Qatar. Since its inception, QBA has been seeking to strengthen its partnership with Qatar’s public sector to serve the national economy.”
“Today’s agreement will be vital in attracting foreign investors to Qatar. Investors can benefit from the privileges provided by the Qatar’s government. The investment climate here is very appropriate and great opportunities are available to turn the country into a real workshop,” Sheikh Faisal said.
The signing of the Memorandum of Understanding was followed by an introductory tour of Ras Bufontas where the local businessmen were given a briefing about existing infrastructure and services it provides to
investors.
The signing ceremony was attended by Hussein al Fardan, first deputy to QBA Chairman and a number of QBA board members. QFZA CEO Lim Meng Hui and QFZA Deputy CEO Abdullah bin Hamad al Misnad were also present on the occasion.
