Qatar Free Zone Attracting Prestigious International Companies
Qatar Minister of State and Chairman of the Board of Directors of Qatar Free Zone Authority (QFZ) Ahmad bin Mohammed Al Sayed explained that the QFZ has succeeded in attracting prestigious international companies and investments in advanced technological fields, including electronic computing, modern agricultural technology and electric vehicles, in addition to logistics services and other promising fields as well as expanding its investment portfolio, which today includes more than 450 licensed companies in various main sectors that include: emerging technology, logistics, trade, manufacturing, consumer products, marine services, biomedical sciences, food and agricultural technology, aerospace and defense sector. All of that was possible thanks to the infrastructure provided by QFZ in accordance with the highest international standards, attractive and sustainable work environment, smooth regulatory frameworks, competitive advantages, and a strategic location in the heart of the global trade movement.
He pointed out that under the leadership of the Amir Sheikh Tamim bin Hamad Al-Thani, Qatar has witnessed and continues to witness a major qualitative shift, that is manifested in the economic growth and diversity, hosting and organizing the most important global forums and events, as well as its pivotal role in resolving many regional and global conflicts. He lauded Qatar’s success in consolidating its global position by confirming its exceptional organizational capabilities, after it dazzled the whole world through organizing the best edition of the FIFA World Cup in Qatar 2022 and hosting the international Horticulture exhibition Expo 2023 Doha which brings together regional and international stakeholders around one agenda, which is combating desertification and striving for a more sustainable future.
He pointed out that the various achievements of the State of Qatar are reflected in the investment scene, as the QFZ is taking steady steps in accordance with a clear strategic vision to contribute to the national efforts for prosperity and diversifying national economy. He pointed out that promoting the unique investment opportunities available in the State of Qatar, working to attract regional and international companies to invest in free zones in the country, enabling long-term partnerships between local and foreign investors to enhance added value, transferring experience and knowledge, and creating more promising opportunities that require technical skills are basic pillars of the Authority’s strategy, which it continues to implement and through which it aims to support the goals of economic diversification in the country under the umbrella of contributing to achieving the Qatar National Vision 2030.
He pointed out that the QFZ has signed several strategic agreements with leading national institutions as part of the Authority’s growing efforts to expand the scope of its partnerships locally, in order to support the investment climate in the country and enhance its position as a distinguished investment destination in the region and the world through the free zones in Qatar. He asserted the availability of the factors that play a decisive role in shaping the future of foreign direct investment in Qatar, most notably the QFZs commitment to environmental, social and corporate governance (ESG) practices, in an effort to reduce carbon emissions and create a more sustainable future, in addition to respecting the standard of efficiency, and harnessing innovative technologies in the service of business, as well as providing an advanced digital infrastructure that allows investors to use the latest technologies in doing their work.
He reiterated the QFZs commitment to continuing the process of growth and progress next year, and beyond, by attracting more investors, expanding the infrastructure of the free zones, strengthening the business system in the State of Qatar, embracing sustainable innovation, and providing world-class services to companies, in addition to its focus on attracting investments in vital sectors, such as emerging technology, biomedical sciences, food, and agricultural technology.
Minister of State and Chairman of the Board of Directors of Qatar Free Zone Authority (QFZ) Ahmad bin Mohammed Al Sayed concluded his statement to QNA by emphasizing that despite the remarkable results achieved, the horizons and ambitions in this field are still great, pledging that the Qatar Free Zones Authority will continue its diligent work within the framework of achieving the goals of Qatar National Vision 2030. (QNA)