Qatar’s single window system project ‘Own Your Factory in Qatar in 72 Hours’ has attracted 9349 applications from local and international companies.
Salman Mohamed Kaldari, the chairman of the coordinating committee for the Single Window System Management, said the project attracted investors looking for opportunities in eight areas which includes food, paper, medical, chemical, electrical, machinery and automotive, rubber and plastics, and metals.
Most of the applicants were keen on the Food sector followed by the metal. More than 85% applications were from Qatar. The project assures land readiness, immediate access to visas and also infrastructure.
Other privileges include 10 year income tax exemptions, customs exemptions for raw materials, and the provision of a 10% support for national and government products, in addition to financing services provided by Qatar Development Bank (QDB).
The selected investors will be announced in September after which they will be getting a nod to start their work. Interestingly, investors from siege countries are also interested in the opportunity and have even applied for the same.
The initiative is spearheaded by the Ministry of Interior, Ministry of Energy and Industry, Ministry of Municipality and Environment, Ministry of Economy and Commerce, and Ministry of Administrative Development, Labour and Social Affairs, as well as QDB, Manateq, and Qatar Chamber.