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Investment volume in free zones has reached QR5bn

Business Doha 19 Feb 24
Investment volume in free zones has reached QR5bn
Investment volume in free zones has reached QR5bn: QFZ chairman
Event Location
Qatar, Qatar
Start Time
19 February 2024, 12:00 AM
End Time
31 March 2024, 12:00 AM

Minister of State and Chairman of Qatar Free Zones Authority (QFZ) HE Dr Ahmad bin Mohammed Al Sayed has revealed that QFZ has attracted nearly 500 companies spanning diverse sectors with estimated investments at about QR5bn.

QFZ is focused on attracting investments in key business sectors that give investing companies a competitive advantage, includingEmerging Technology, Logistics and Trading, Industrial and Consumer, Marsa and Maritime, Aerospace and Defense, Food and Agritech, and Biomedical Science.

Al Sayed held a meeting with a delegation from the Qatar Chamber, led by First Vice-Chairman Mohamed bin Ahmed bin Twar Al Kuwari, in the presence of CEO of the Qatar Free Zones Authority Sheikh Mohammed bin Hamad bin Faisal Al Thani, and executive officials from both organizations. The delegation paid a field tour to the Ras Bufontas Free Zone to explore the investment benefits and business opportunities within the free zones.

Discussions revolved around strategies to enhance collaboration between the Chamber and QFZ, with a focus on supporting the national economy and fostering the establishment of projects by the Qatari private sector in the free zones.

He underlined that the Qatari private sector plays a pivotal role in the economic activities of the State and contributes significantly to the realization of the objectives outlined in the Third National Development Strategy 2024-2030; noting that QFZ places great importance on the dynamism and expertise offered by the private sector.

First Vice-Chairman of Qatar Chamber Mohamed bin Ahmed bin Twar Al Kuwari said that Qatari businessmen are interested in learning more about the advantages and facilities granted by QFZ to local investors, stressing that Qatar Chamber encourages businessmen to establish projects in the free zones.

He added that the Qatar Chamber, during its interactions with foreign trade delegations, actively promotes Qatars free zones to attract additional foreign investments to the State and emphasize the pivotal role played by QFZ in drawing international companies and investments across significant sectors, attributable to its top-notch infrastructure, appealing and sustainable work environment, streamlined regulatory processes, and distinctive competitive advantages.

Throughout the tour and a presentation, Strategic and Commercial Development Director of QFZ Hamad bin Abdul Aziz Al Mohannadi highlighted the benefits that QFZ provides to investors and underscored the services offered by the Investor Relations Center that serves as a comprehensive resource, facilitating fast incorporation of companies within a clear legal framework, and providing technical support in a streamlined manner seven days a week.

The investor relations team at QFZ serves as the crucial communication bridge connecting investors with pertinent government authorities and institutions. They efficiently coordinate interactions among companies, relevant ministries, and government bodies to facilitate the issuance of essential documents. This encompasses tasks such as securing visas, identity cards, and business permits, as well as assisting with tasks such as bank account opening, customs support, business expansion, and various other requirements.

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