Qatar Free Zones Authority (QFZA) is planning to create a new free zone in Msheireb Downtown Doha which will be home to the upcoming Media City and top-class IT companies. This was announced by H E Ahmad Al Sayed, Minister of State and Chairman of QFZA.
The Media City, being established under the Law No. 13 of 2019, aims at managing and developing media activity in Qatar, and enhancing its position as a venue for attracting international media, technology companies, research and training institutions in the media and digital media, in addition to supporting and promoting digital and technological media projects, achieving economic and professional integration. Global IT giant Microsoft has already got a cabinet approval for establishing a global data centre in Qatar called ‘Azure Cloud Computing’.
“We are identifying the third free zone area in Msheireb Downtown which will be dedicated to media and other offices to provide platform to top technology companies,”Minister Al Sayed told DVZ, a leading German logistics publication in a video interview in Germany.
Al Sayed added: “I think we have a unique value proposition and can built on that to create the best business environment and ecosystem for the companies who are coming to register with us.”
During the interview, which was conducted on the sidelines of the recently concluded Transport Logistics Exhibition in Munich, the Chairman of QFZA noted that Qatar has developed the needful infrastructure and put in place all the necessary conditions which are required to attract foreign direct investment (FDI).
In addition to providing a detailed outlook of the robust Qatari economy and its journey from the development of its oil and gas industry to the social sector and key infrastructure development, he also highlighted the important features and benefits of the other two free zones--Ras Bufontas and Umm Alhoul--, which are strategically located adjacent to the world-class Hamad International Airport and the iconic Hamad Port, respectively.
“We have reached to a stage where we have all the elements and favourable conditions around us to welcome FDI and other investors to run their businesses from Qatar,” said Al Sayed, adding that Qatar today has high quality education centres; several leading American universities have opened branches in Doha, and Qatar has also developed state-of-the-art healthcare facilities. “We have 14 top schools on the ground, most of them are international schools. We have world-class infrastructure facilities developed at a cost of over $200bn.”
He also noted that Qatar is not only the GTL (Gas-to-Liquid) capital of the world, but also the sport capital of the Middle East as the country is preparing to host 2022 Fifa World Cup, to be held for the first time in the region. Qatar recently won Asia Cup (football) by beating four-time champion Japan.
“If you look into everything around us, we are well-positioned to emerge as a regional hub for many things. We have resources; high level of commitment to develop and diversify our economy; and we have the social, physical and economic infrastructure, the QFZA Chairman added.
