Qatar is on track towards becoming a logistics hub of the world, offering world class services with Qatar Free Zones Authority planning to establish more partnerships with local and international companies and investors to accelerate the process of economic and industrial diversification.
Amir H H Sheikh Tamim bin Hamad Al Thani, Chairman of the Supreme Council for Economic Affairs and Investment (SCEAI), recently discussed the latest developments of the free zones, where a number of the world’s biggest companies started joining. Projects worth a total of QR3bn have been approved, compared to only QR1bn last August. The majority of these projects are focused on the new economy, Internet of Things, sustainability, IT, big data, communications, transport, logistics, medical services, aviation, cyberspace, and agritech.
Minister of State and Chairman of Qatar Free Zones Authority (QFZA), H E Ahmad bin Mohammed Al Sayed, said: “We at Qatar Free Zones Authority, as part of the government, are highly focused in supporting the private sector. The signing of a memorandum of understanding with Qatari Businessmen Association is a very important initiative to enable the private sector to give them the full support to attract international partners and to work together with the aim to boost investments in the Free Zones.”
Investments in 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.
It must be noted that DHL Express, the world’s largest express network, signed an agreement with Qatar Free Zones Authority to establish a major logistics facility in Ras Bufontas Free Zone, adjacent to Hamad International Airport. Under the agreement, DHL plans to set up a world-class courier express logistics facility at Ras Bufontas Free Zone, offering high-quality services to their customer base both in Qatar and overseas.
DHL joins more than 50 leading companies and projects that are in the process of establishing their operations in the free zones, including major international corporations such as Gaussin (France), Unistrong (China), China Harbour Engineering Company (China), WASCO (Malaysia) Inventus Power (USA), Trade shift (USA), Thales Group (France) and Volkswagen (Germany), representing a wide range of both geographies and sectors.
Qatar Free Zones provide many opportunities and competitive advantages for companies seeking to expand regionally and globally, including modern infrastructure, trained workforce, and 100 percent foreign ownership, in addition to benefiting from investment funds, tax exemptions and partnership opportunities with major Qatari companies and the private sector.
