The Qatar Free Zones Authority (QFZA) in partnership with the Qatari Businessmen Association (QBA) jointly organised a webinar on the ways of establishing a presence in the Qatar Free Zones with a participation of more than 112 small and medium-sized enterprises and multi-national corporations.
In collaboration and cooperation with other stakeholders, the QBA is actively promoting and supporting the QFZA in the country’s efforts to attract more foreign investment. The webinar featured several of QBA’s strategic partners such as the French Chamber of Commerce & Industry in Qatar and the Arab-German Chamber of Commerce & Industry (Ghorfa).
The QFZA was created in 2018 to develop, implement and regulate some of the world-class free zones in the State of Qatar and to provide additional opportunities and possibilities to the private sector, a key to diversity the economy of the country.
The establishment of a presence in the Qatar Free Zones provides a number of advantages to companies seeking to expand regionally and internationally. It includes one-hundred percent foreign ownership, market reach, accessibility and connectivity, award-winning infrastructure and capacity, skilled workers, legal framework, tax exemptions and partnership opportunities and possibilities.
These initiatives of the State of Qatar are contributing to the economic growth with the World Bank predicting a growth of 3% in 2021, the highest in the GCC.
The Qatar Free Zones provide companies a strategic location to develop, generate and distribute their products and services for markets in the third countries with access to many attractive incentives.
The most recent additions to the portfolio of the Qatar Free Zones Authority are companies with activities related to logistics, emerging technology and e-mobility. The interests of the QFZA are logistics, chemicals and emerging technologies as well as sectors where the country has a strong value proposition (such as information and communication technology, smart city solutions, petrochemicals and others).
The participants spoke about the relations between the State of Qatar and the French Republic which began in 1971 when the countries became strategic partners underlined by the presence of major French companies in Qatar (such as Total, Thales, Societe Generale and Others) and significant Qatari investments in France. Today, Qatar is home to more than 200 French companies.
At the same time, the State of Qatar is a key partner for the Federal Republic of Germany on different levels, especially the economic level, which is reflected in the significant Qatari investments in Germany, exceeding QAR 110 billion (USD 30 billion) and the number of German companies in Qatar (which reached more than 300 including Siemens, Volkswagen and Others).
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The collaboration and cooperation of the public sector and the private sector will strengthen the position of the State of Qatar as a hub for business, trade and investment in the Middle East.