Qatar has been steadily easing its processes for international business over the years. The country’s first special economic zone, set to launch by early 2019, is a key milestone in this regard. The first free zone called Um Al Houl is situated next to the sea port and has an area of 34 square km. The second, Ras Abu Fontas, is situated next to the airport and has an area of 4 sq. km. Developed by Manateq, which also develops logistics and warehousing parks elsewhere in Qatar, these free zones provide a rare opportunity for international businesses to set up shop in Qatar with 100 percent ownership.
Seizing the opportunity, a number of international industries have already signed up in Um Al Houl Free Zone from sectors such as petrochemicals, building materials, metals and food processing.
Another huge boost to business is the development of local infrastructure, which has made great strides in the recent past. The newly commissioned Orbital Ring Road connects the sea port and airport along with all the major industrial locations within Qatar. The launch of the metro in 2019 will ease the movement of people from southern Doha to northern Doha via the Red Line.
Qatar has also been keenly promoting local industrial growth with support from the Qatar Development Bank. This is not only limited to subsidized project funding, ready-made factory facility and export incentives, but also incubation support, advisory services and much more.
With the immensely improved transportation links, highly developed infrastructure, ease of foreign investments and more, the opportunity to invest in Qatar is ripe and will remain so far beyond the FIFA World Cup in 2022.
With over 15 years of serving more than 500 customers from around the world, Alderbasti Audit & Advisory has been able to harness their local knowledge to facilitate better business. In this time, our firm has been ably assisting international businesses to set up, establish and flourish in Qatar.