File picture of Qatar skyline used for reference..
DOHA: The Board of Directors of the Free Zones Authority (QFZA) held its fourth meeting yesterday, chaired by H E Ahmed bin Mohammed Al Sayed, Minister of State and Chairman of the Board. The Board approved the second package of the free zone regulations and reviewed progress made so far on the zones infrastructure projects, investment attracting activities and internal processes.
The regulations approved by the Board of Directors included regulations related to land rents, building permits and planning regulations, and licensing fees and asset leases. The approved regulations will make it easier for local and foreign investors to identify their business activities and submit their applications.
The Authority invited local and foreign investors interested in investing in Qatar Free Zones to consult the regulations on the authority’s website (www.fza.gov.qa), or contact the Business Development and Investors Affairs Department of the Authority at [email protected].
At its previous meeting in July 2018, the QFZA Board of Directors had approved the first package of licensing regulations and registration system of companies in the free zones in the country.
During IPEC 2018, the QFZA announced that it will publish all details and laws relating to free zones before the end of November 2018.
The Free Zones Authority was established by Law No. (34) of 2005, as amended by Legislative Decree No. (21) of 2017.
The Authority is responsible for the development and regulation of free zones in the State of Qatar in accordance with the best international standards to encourage and attract investments in economic, technology, production and export, in accordance with the strategy and direction of the State to attract domestic and foreign investments and the requirements of sustainable development, while providing the necessary guarantees for the preservation of capital and flow in accordance with international trade principles.
The free zones currently include Airport Free Zone – Ras Bufontas, Port Free Zone – Um Alhoul with total area of 34 square kilometers, and Msheireb Doha.
