Qatar Free Zones Authority (QFZA), an authority that regulates world-class free zones in Qatar, has identified 69 investment opportunities in partnership with Qatar Petroleum, under QP’s landmark Tawteen initiative launched yesterday in Doha.
QFZA will provide land and property solutions to facilitate these opportunities, which are expected to contribute significantly to Qatar’s economic diversification and create thousands of new jobs. QFZA has been working closely with Qatar Petroleum in recent months to support the implementation of this program, with the shared aim of driving economic growth and expanding supply chain opportunities in Qatar.
The opportunities cover a range of areas of particular interest to QFZA, including activities in maintenance, repairs and operations (MRO), specialized services for onshore and offshore wells, digital technologies, chemicals and light engineering services. These areas complement QFZA’s three key sectors – logistics, chemicals and emerging technologies – and the opportunities within them will help contribute to the development of sector-specific clusters within the free zones, as well as leading to the creation of services that can be used by other businesses in the free zones.
“QFZA’s participation in this exciting initiative reflects our commitment to supporting economic growth in Qatar and offering strong partnership opportunities with leading Qatari entities such as Qatar Petroleum,” said Fahad Zainal, Chief Corporate Support Office.
“Partnerships like this one are a key pillar of our strategy, and we look forward to welcoming successful applicants to the free zones, where they will benefit from great proximity to the airport and port, a business-friendly regulatory environment and new, world-class infrastructure.”
The Tawteen initiative is one of many that QFZA is participating in across Qatar, as the Authority continues its efforts to drive economic diversification and articulate Qatar’s value proposition to companies worldwide, with a particular focus on Asia, Europe and North America.
Qatar Free Zones Authority was established 2018 to oversee and regulate world-class free zones in Qatar. The QFZA offers outstanding opportunities and benefits for businesses seeking to establish operations in Qatar, providing quality infrastructure, a skilled workforce, 100 percent foreign ownership, access to investment funds, payment exemptions and partnership opportunities with Qatari entities.
Qatar Free Zones Authority oversees the Airport Free Zones at Ras Bufontas and the Port Free Zone at Um Alhoul, strategically placed near Qatar’s world class airport and port to allow companies to take advantage of Qatar’s global connectivity.
Source from: The Peninsula