The Minister of State and Chairman of Qatar Free Zones Authority (QFZA), H E Ahmad bin Mohammed Al Sayed, said yesterday that the Supreme Council for Economic Affairs and Investment (SCEAI) has approved projects worth more than QR3bn, which is a significant rise compared to QR1bn last August.
The QFZA is set to establish more partnerships with local and international companies and investors to accelerate the process of economic and industrial diversification, H E Minister Al Sayed told The Peninsula on the sidelines of an event yesterday.
The QFZA and Qatari Businessmen Association (QBA) signed a memorandum of understanding (MoU) that includes means of joint cooperation and benefiting from the services provided by these two economic institutions to the local and external investor in order to enhance investments and support the economic development of the country.
“We at Qatar Free Zones Authority, as part of the government, are highly focused on supporting the private sector. This is (the MoU with QBA) 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.
Asked about the fund allocation for the QFZA, the Minister said: “We have a lot of projects already attracting more than QR3bn which the Supreme Council (SCEAI) approved last week. There is good demand here and we are going to establish more partnerships internationally as well as locally.”
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.
The council lastly discussed a draft strategic partnership between Qatar Free Zones Authority and Qatar Petroleum. The partnership aims to unite efforts in attracting major companies in the energy, chemicals, and clean energy sectors.
The Peninsula
17/02/2020
