Unlimited potential, says Chan
The Qatar Free Zones Authority has invited Indian investors with a slew of attractive benefits and hassle-free investment environment in the Emirate, strategically located at the intersection of Asia, Africa, and Europe.
There was no better place and no better time than to invest in Qatar, which will be hosting the 2022 football world cup, said Wilson Chan, Director, Markets, Qatar Free Zones Authority, was at the PHD Chamber in New Delhi on 14 Jan 2020.
Chan addressed a gathering of industrialists and business leaders during an ‘Interactive Session and B2B meeting on Investment opportunities in Qatar Free Zones Authority’.
said that there was no better place and no better time than to invest in Qatar, which will be hosting the 2022 football world cup.
The potential and possibilities are unlimited, said Chan inviting the Indian investors to consider the advantages his country.
More specifically, he highlighted the Free Zones offerings – zero corporate tax for 20 years, no individual tax, 100% foreign ownership, No GST or VAT, no customs duties.
For the present, Qatar was focusing on three areas, Logistics, downstream Chemicals, and emerging technology sectors of IT, AI, ICT, drone technologies, renewable energies, and the like.
Already, the technology area was resonating well with the Indian companies, noted Chan.
The Free Zones also had a fund of US$1 billion for encouraging startups that already have a concept and revenue steam with potential.
The Free Zone Authority will line up such startups with venture capital funds so that all can grow together.
Qatar has two Free Zones. The Airport Free Zone at RasBufontas in an area of 4 sq km and the Port Free Zone at Umm Alhoul spread over 32 km.
“We can cater to almost all kinds of businesses in the services and manufacturing sector. There are opportunities in the ICT solutions, Apps development, F&B, hotels, hospitality, mainly because of the world cup football championship in 2022,” he said.
It is possible to shift an entire factory from Delhi and relocate to the Free Zone, said the official from Qatar Free Zone Authority.
There are no restrictions even on the movement of labour. “You can import all the labour from any country or can even hire locally from available poor of human resources,” Chan assured.
Describing Qatar as an economic power at the center of a dynamic and growing region, he said, the country had all the right ingredients for investing – solid world-class infrastructure, highways, power and globally acclaimed best practices.
More importantly, he said, Qatar had a stable economic environment and high per capita GDP, among the highest in the world at US$124,429. In the last ten years, Qatar has diversified organically and focused on strategic growth.
Welcoming Chang at the event, Pradeep Multani, Vice President, PHD Chamber, said at present, 20 Indian companies were engaged in Doha in as diverse fields as aviation, IT, infrastructure, oil, and gas.
Trade between the two countries was growing at 9%, he added. fiinews.com