The Qatar Free Zones Authority announced the signing of a partnership agreement with Loyi Holding Group, one of the largest leading Chinese companies in the field of investment, to establish a global industrial complex in the State of Qatar, with the aim of attracting foreign investments to Doha and diversifying the national economy, in line with the Qatar National Vision. .2030
The agreement, which comes within the framework of the Belt and Road Initiative, was signed by His Excellency Sheikh Mohammed bin Hamad bin Faisal Al Thani, CEO of the Qatar Free Zones Authority, and Mr. Yin Haijie, Chairman of the Board of Directors of the “Loyi” Holding Group, on the sidelines of the activities of the China International Import Expo. “CIIE”, one of the most prominent international events, recently hosted by the city of Shanghai.
On this occasion, His Excellency Sheikh Mohammed bin Hamad bin Faisal Al Thani, CEO of the Qatar Free Zones Authority, said: “This partnership represents an important step in supporting the efforts of the State of Qatar to diversify its economy, enhance foreign investments, and localize industries, as it is planned that the new complex will attract Multiple industries that serve efforts aimed at developing strategic sectors in the country.”
The CEO of the Free Zones Authority added that the world-class infrastructure that the State of Qatar has invested in developing over the past years, along with legislative reforms related to the business climate, and the facilities and privileges provided by the free zones, have contributed to the development of an attractive work environment for the most important companies. Global investment in the country, which is evident in this partnership with the Chinese “Loyi” Holding Group.
• Cooperation and growth opportunities for national companies in the fields of logistics, construction and technological services
His Excellency Sheikh Mohammed bin Hamad bin Faisal Al Thani pointed out that the new industrial complex will also contribute to providing many opportunities for cooperation and growth for national companies in many fields, including logistics, construction, and technological services, as well as generating more job opportunities, transferring knowledge, and enhancing National expertise in multiple industrial fields.
For his part, Mr. Yin Haijie, Chairman of the Board of Directors of Luoyi Holding Group, said that the establishment of the new industrial complex is in line with the ambitions of the Chinese Belt and Road Initiative, which aims to enhance trade and development in large regions of the world, including the Middle East.
He added: “The State of Qatar has an advanced infrastructure and an attractive climate for investment, in addition to its distinguished location, which encouraged us to establish an industrial complex there. This partnership will strengthen economic relations between Qatar and China, and we seek to make the industrial park in Qatar a center for us to expand in the Middle East region.”