Qatar has created an “extremely welcoming” regulatory environment for foreign companies in its free zones, points out Lim Meng Hui, CEO, Qatar Free Zones Authority (QFZA).
“A major concern for companies setting up overseas, particularly tech companies, is the protection of their intellectual property and customer data. The legal frameworks put in place by Qatar have proven robust enough for Google and Microsoft, both companies with a strong reputation for guarding their intellectual property, to set up operations in the free zones,” Hui said at a ‘Digital Roundtable’ organised by The Business Year and co-hosted by Qatar Free Zones Authority (QFZA).
Qatar’s free zones, he said, have been built to the highest standards.
“We are committed to ensuring that our tenants, both current and future, have access to the latest digital, physical, and legal infrastructure to optimise their operations. The government of Qatar has created an extremely welcoming regulatory environment for foreign companies in the free zones.”
He said the arrival of companies leading the fourth industrial revolution has paved the way for a whole new set of companies to enter into the free zones and value chains from a whole range of industries.
“So we can truly claim that the region’s fourth industrial revolution will be led from our free zones. But we are not content on resting on the successes of today, and if we are to continue to be one of the world’s most successful free zones, we must always look for ways to improve what we offer to current and future tenants.
“This ethos was summed up perfectly by HE Ahmad bin Mohamed al-Sayed, Minister of State and chairman of QFZA, during a recent meeting with a trade delegation led by the US Chamber of Commerce. Our intention is not to stop at what we are giving to you today. Rest assured that we will continue to upgrade and update our systems, and all our investors’ ideas and challenges will be discussed and acted on. We will not stop serving you.”
Hui said the private sector is an important engine of growth in most economies, including Qatar. The new law (Law No. 12 of 2020, regulating the partnership between the public and private sectors) will encourage the private sector to participate more actively in projects that invest in the development of the Qatari economy as well as strengthen the partnership and co-operation between the large, small, and medium-sized enterprises and the public sector.
Since its establishment, QFZA has worked tirelessly to connect the strategic objectives of our government outlined under the 2030 National Vision with the know-how of the private sector and the growth opportunities that they are seeking out.
A great example, he noted is the establishment of the new Digital Competence Centre in Qatar Free Zones by Thales. The centre will be a hub for software development and facilitate large-scale projects including events and security solutions, playing a key role in Qatar free zones’ growing technology ecosystem.
The free zones will give foreign companies a base from which to tailor their products and services for nearby markets across the Middle East, Europe, North Africa, and Western Asia, Hui said.
