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.”