Qatar Free Zones Authority (QFZA) has announced to offer a “one-stop-shop” solution to investors and businesses which are looking for long-term growth and global expansion. QFZA, the independent authority that oversee and regulate world-class free zones in Qatar, is offering outstanding opportunities and benefits for such businesses, which include potential access to a $3bn (nearly QR11bn) government-backed investment fund.
The other attractive incentives and benefits QFZA is offering include tax exemptions or corporate tax holidays for up to 20 years, skilled foreign workforce, 100 percent ownership of business with full capital repatriation, QFZA tweeted yesterday.
The foreign investors in Qatar’s free zones can also have the opportunity of establishing partnership and joint ventures with leading Qatari national companies. Early this month, the Authority announced that Google Cloud has signed its first strategic collaboration agreement in the Middle East with QFZA to launch a new cloud region in Doha. The region will be available for Google Cloud customers globally.
And as part of its continued efforts to attract foreign investors and global companies, QFZA and Qatari Businessmen Association (QBA) recently 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.
QFZA, since its inception in 2018, has been working to provide an ideal platform for foreign and local companies offering all the needful support for the development of two free zones in Qatar- Ras Bufontas and Umm Alhoul, both strategically located near the country’s iconic airport and seaport, respectively. It has signed many agreements with several companies from China, Singapore and other parts of the world.
These free zones are offering high-quality infrastructure, including the state-of-the-art office facilities and world class transport system, have been thoughtfully designed and expertly constructed to provide businesses everything they need to succeed.
The Peninsula
24/03/2020
