Manateq CEO Fahad Rashid al-Kaabi (left) briefs HE the Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa al-Thani and HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani on Um Alhoul Special Economic Zone.
By Peter Alagos/Business Reporter
The development of the Um Alhoul Special Economic Zone is seen as “one of the most important initiatives” to allow opportunities for expansion and investment for the private sector, HE the Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa al-Thani said.
The Prime Minister was speaking during groundbreaking ceremony of the new economic zone where he was accompanied by HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani and Manateq CEO Fahad Rashid al-Kaabi.
“The State of Qatar has established, for the first time, new areas for the development of production and service activities like storage, industry, and logistics activities,” Sheikh Abdullah said in his keynote speech.
He also emphasised that Um Alhoul Special Economic Zone underlines the development of Qatar’s economy and “opens the fields and development to the national private sector and to local and foreign investments.”
“In order to achieve the vision of HH the Emir Sheikh Tamim bin Hamad al-Thani…the government has focused on a large number of initiatives that improve the investment climate and increase the chances of projects available to the private sector,” the prime minister stressed.
“Economic zones are the most important tools which countries adopt in its quest to provide care and attention to industrial and productive sectors in order to develop them,” he said.
Sheikh Ahmed bin Jassim said the development of the new economic zone is expected to bolster Qatar’s bid to diversify the economy away from the hydrocarbon industry.
“This groundbreaking ceremony of Um Alhoul Special Economic Zone is a testament to the firm resolve and unwavering commitment of the State of Qatar towards a strategically and fully-diversified economy,” Sheikh Ahmed said.
The minister lauded Manateq, led by al-Kaabi, and said: “The goals, objectives, and aspirations of this great nation have all been clearly defined in the Qatar National Vision 2030, which focuses on four pillars: human, social, economic, and environmental development. Accordingly, Manateq’s projects have all been designed to meet these pillars.”
He added: “Henceforth, I look forward to its full completion, the efficient delivery of world-class facilities and services, and the successful and thriving operations of home-grown, locally-based businesses within these special economic zones in the future.”
Manateq, which was established in 2011 by the Minister of Business and Trade, has three special economic zones under its wing, namely Ras Bufontas, Um Alhoul, and Al Karaana, which were geared to facilitate private sector growth and promote manufacturing in downstream heavy and light industries.
Located just south of Wakrah, Um Alhoul is a 33.52sq km light manufacturing zone that adjoins the Hamad Port, and was designed to cater to the petrochemicals, building materials, maritime, metals, logistics, food processing, and automotive, tools and machinery sectors.
It also features a dedicated canal to accommodate marine-related industries.
“We have completed the design phase of Um Alhoul and are now ready to fully-implement our plan as part of our unwavering pursuit of a vision to create a future with sustained growth by making it easier for companies to do business, providing access to growing markets, using resources wisely, supporting diversification, and caring for the environment,” al-Kaabi explained.
