Qatar Free Zone (QFZ) that is expected to be in place within two years,has initially identified Industrial Clusters like chemicals,metallurgy and logistics where prospective entities can fill the missing vital gaps in Qatar’s value chain.

The idea of setting up QFZ was to capture the other parts like research and development, product development and processing. Guiding principles in setting it up have been to identify new sectors that are high value-added and support industries while at the same time strengthen the current sectors. QFZ is considered to be the endeavor of the Government to ensure coordinated policies, programmes and incentives for attracting industries by providing them with appropriate infrastructure. 100% ownership will be allowed across the sectors and the earnings repatriation will be permitted. Though there will not be any import duties or export duties outside Qatar, rather there will be export duty for products exported inside Qatar.

Experts believe that such a zone could give the much-needed “big push” for the industrial sector, especially the small and medium enterprises, in the country.It is expected to have both direct and indirect influence including employment generation and partnerships with university and other centers of excellence.

Expecting the study to be finished on a “fast track” basis, it had to be submitted by June-July, after which starts the next step of competitive bidding for constructing the zones. Qatar’s vision is to broaden the country’s economic base by attracting and diversifying foreign/local industries in manufacturing and allied industries. As part of efforts to diversify its economic base, the country has already set up the Qatar Financial Centre (QFC), which is now seeking global banks and financial institutions into it, and is also establishing Energy City, apart from Science and Technology Park and Education City.

Source: http://www.gulf-times.com/site/topics/article.asp?cu_no=2&item_no=79694&version=1&template_id=48&parent_id=28