The Qatar Free Zones Authority (QFZA) has approved “investment applications” from major international and local companies valued at more than QR1bn.
The QFZA is the 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.
“The value of the approved investments totalled more than QR1bn, in the first six months alone, of accepting investment applications,” the QFZA said yesterday.
The 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 the QFZA and the projects it works on.
The QFZA also revealed that it has approved a range of partnerships between private sector and global companies across different fields.
HE Minister of State and Chairman of the Qatar Free Zones Authority, Ahmad bin Mohamed al-Sayed 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.”
He stressed that the investments in the free zones will directly contribute to positioning Qatar as an attractive 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.
Al-Sayed said the move comes in line with the QFZA’s commitment to supporting the national economy in line with the 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,” al-Sayed added.
The QFZA also announced that it is in the process of finalising 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 the QFZA.
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