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Posted On: 28 August 2019 09:29 pm
Updated On: 12 November 2020 02:04 pm

More than 1 billion QR in investments ahead of the QFZA official launch

Arvin Garcia
Arvin Garcia
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Qatar Free Zones Authority (QFZA), an authority that develops free zones in Qatar and sets the strategic direction as well as formulates and governs policies for businesses operating in the free zones, announced that it has approved investment applications from major international and local companies. The value of the approved investments totaled more than 1 billion QAR, in the first six months alone, of accepting investment applications. QFZA has directed the funds towards significant economic, industrial, and technological projects in the free zones, having briefed the Supreme Council for Economic Affairs and Investment on the progress report of QFZA and the projects it works on.

QFZA also revealed that it has approved a range of partnerships between the private sector and global companies across different fields.

H.E. Ahmad bin Mohamed Al-Sayed, Minister of State and Chairman of the Qatar Free Zones Authority said, “Prior to the official launch of the free zones, QFZA was able to attract and approve investment applications and register a group of major international companies in various fields, reflecting the confidence investors have in Qatar.”

His Excellency stressed that the investments in the free zones will directly contribute to positioning Qatar as an attractive investment destination for investors from around the world, and a platform to attract international companies that want to maintain a base in Qatar and build partnerships with national companies in the private sector and with other international companies.

H.E. added that the move comes in line with QFZA’s commitment to supporting the national economy in line with Qatar National Vision 2030. “We encourage the private sector to leverage the facilities our free zones provide to attract their international partners and create value for the national economy through joint ventures.”

QFZA also announced that it is in the process of finalizing the infrastructure of its free zones, which will be ready for inauguration soon. Investors from Qatar and abroad can apply to invest and register in the free zones through QFZA.

Source: Qatar Free Zones Authority