16 October 2018
In an effort to diversify, Qatar will look to spend USD 3 Billion to attract foreign companies to its new free zones.
The country is looking to attract foreign investment to the areas south of Doha, according to Ahmad Mohammed Al-Sayed, the chairman of Qatar's Free Zones Authority.
Al-Sayed, who was speaking in an interview, said that logistics, chemicals, plastics and artificial intelligence are among the industries intended for the free zones.
He told Bloomberg: “We are looking for the cornerstone investor first and are setting up a USD 3 billion development and foreign direct investment fund as an incentive. Qatar has reached a stage of development, after building the physical, social and economic infrastructure, where we are ready to welcome the most talented foreigners to live with us, and work and manage their businesses from here.”
According to Bloomberg, the country has already spent USD 10 billion developing the areas that border one of the world's biggest cargo operations at Hamad International Airport and a new port. Construction and the relevant legal frameworks will be completed by the end of next year.
About Cityscape Qatar
Cityscape, the world’s leading real estate event portfolio for emerging markets, debuted in the State of Qatar in 2012. The annual event features an exhibition and numerous learning and networking features designed to stimulate the development of Qatar’s real estate industry.
Cityscape Qatar presents an unparalleled line up of opportunities for the local and regional real estate community, as the event allows delegates and visitors to engage in a dynamic environment that gives insight into the future of Qatari and Middle East real estate.
The exhibition showcases infrastructure development projects through Qatar’s National Vision 2030.
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