During the Doha Forum ... Qatar promises investors in its free zones in permanent partnership

Imad Murad - Doha

“Investing in Qatar’s free zones means joining Qatar with its regional and international strength, as well as possessing the wealth that enables its affiliates to open new doors and horizons for their companies.”

Words addressed by the Qatari Minister of State and Chairman of the Free Zones Authority Ahmed bin Mohammed Al-Sayed during a session within the Doha Forum that concluded yesterday.

The session, which was held on Sunday evening, under the title "The Impact of Free Zones on International Trade and National Development", dealt with the global development in the field of free zones and the great transformation that these free zones are witnessing, especially in light of the international trend towards a digital economy based on knowledge.

During his intervention before the session, the Qatari minister stressed that competition between the free zones is a healthy thing, and that betting is on who provides the best services and wins contracts, considering that he will not go to persuade others that the Qatari free zones are the best, but rather that everyone will see this.

He added that his country possesses an advanced and modern infrastructure and has a distinct social and cultural education in view of the universities that numbered 15 universities, explaining that when a company joins the Free Zones Authority, it will not only join the Authority but also Qatar as a country whose people welcome everyone, in addition to being an international player And regionally distinct, as well as possessing the wealth that can achieve a partnership that opens new doors.

The shift towards a digital economy
Reem Al-Mansouri, Member of the Qatari Shura Council and Assistant Undersecretary for the Development of the Digital Society, agreed with the Chairman of the Free Zones Authority that Qatar has many advantages that will make its free zones make great strides within a short period, adding that her country is moving towards a digital economy.

Al-Mansoori explained that the "Smart Qatar" project, which was launched in 2017, had great success in converting five major sectors in the country to provide services in the digital framework, noting that the companies that will work with Qatar in this direction will have a larger market not only in the country, but also In the entire region.

For his part, Chairman of the Board of Directors of "Scenic Capital" Yixin Zhang urged the free zones in Qatar to move forward to focus on new technologies and ensure the transformation of its economy entirely to the digital economy, considering that Qatar has become an essential knowledge partner on the level of global trade.

Yin Zhang, in a statement to Al Jazeera Net, indicated the importance of the transition to the digital economy that the top five companies now operating in the world have no material products, but digital products, stressing that the world’s path is now moving towards a knowledge economy and whoever fails to pay this price will pay a high price in the future .

New contracts
After the conclusion of the session, the Qatar Free Zones Authority signed licenses with seven of the largest international companies investing that will start operations among 50 companies registered so far, and the seven companies are "Unistrong", "Gaussen", "China Harbor", "Infinite Power" and "Thaleys" Group, Volkswagen and Wasco Packaging.

German Volkswagen will invest in the automotive and automotive technology sector, while the French group Thaleys specializes in the electronic and digital systems sector, the French company Gaussen specializes in the assembly of electric and self-driving cars.

As for the American company, Evantz Power, it will work in the battery technology and electrical connections sector, the Malaysian Wasco Couting company operates in the tube packaging sector, and China Harbor Company operates in the industrial products sector, while the Chinese company Winesterong is in the navigation technology sector.

In a speech after signing the contracts, the Qatari Minister of State and Chairman of the Free Zones Authority affirmed that each of these companies is a pioneer institution in the sector in which it operates and represents various global markets such as China, Malaysia, Germany, France and the United States.

He pointed out that the partnerships concluded by the Qatar Free Zones with these companies clearly reflect the depth of bilateral trade and economic relations that Qatar brings together in many countries of the world.

It is noteworthy that the seven companies will start their work from the free zones during the next year, so that the free zones attract investment requests with a total value of about one billion and 500 million riyals.

The Qatar Free Zones Authority was established in 2018 to support economic development and the establishment of a group of world-class free zones in the State of Qatar, in addition to securing fixed investments.

The free zones provide many opportunities and competitive advantages for companies seeking to expand regionally and globally, including modern infrastructure, trained workforce, and 100% foreign ownership, in addition to benefiting from investment funds and tax exemptions.