QFZA achievements: 400 companies, 6000 jobs in Qatar Free Zones
The Qatar Free Zones Authority (QFZA) has been in place since 2018 and has successfully completed five years since its inception. In the past five years, there have been two free zones—Ras bu Fontas and Umm Al Houl, that have been operating effectively with over 400 companies to their credit. With a combined investment of over $ 3 billion, these companies have generated more than 6,000 job opportunities.
Sheikh Mohammed H.F. Al Thani, CEO of QFZA, outlines the Free Zone strategy, its achievements, priority sectors, and initiatives in an interview with fDi Intelligence.
Emphasizing the priority sectors for QFZA, the CEO explained the focus on seven strategic ones including food & agritech, industrial and consumer, biomedical sciences, maritime development, logistics & trading, aerospace and defence, and emerging technologies. He remarked on the strategic synergies that these sectors offered Qatar, especially as the Free Zones’ ability to support companies like Microsoft, Volkswagen, Google Cloud, Thales, and many others propels Qatar towards development.
Over the last five years, QFZA has been able to lease over 1 million square meters of land to 400+ companies, that have resulted in 6,000 jobs. Several companies and investors have successfully availed the many benefits of investing in the free zones and supported Qatar’s efforts to digitize its economy. The forecast for 2030, conducted by Access Partnership, states that over $18.9 billion may be the gross economic output to Qatar’s economy through the free zones.
The CEO highlighted the competitive advantages of investing in the free zones, including a multicultural environment, vast natural gas reserves, and enhanced connectivity to global markets by land, air, and sea. Unmatched logistics and world-class educational infrastructure along with a seamless regulatory experience are among the many other benefits.
QFZA’s commitment to sustainability is also outlined with the various sustainability initiatives supported by the investors and Qatar in the free zones. Gaussin and QFZA partnered to create Qatar’s first electric vehicles as a part of a zero-emission initiative.
QFZA encourages investors to further invest in the free zones and enable diversification of the Qatari economy along with the establishment of new sectors in the near future.
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