Qatar's proposed bankruptcy and PPP law revamp to ‘unlock' FDI inflows: ICAEW
Qatar - More than 4,000 investors will benefit from the reduced rental prices. The decision applies to Jery Al Samur Logistics Park, Small and Medium Industries Zone, Al Wakra Logistics Park, Aba Saleel Logistics Park, Mesaieed Industrial Zone, and Birkat Al Awamer Logistics Park.
Doha's recent transformative strategies – including the revamp of bankruptcy laws and public private partnership (PPP) – will help 'unlock' stronger inflows of foreign direct investment (FDI), according to the Institute of Chartered Accountants of the England and Wales (ICAEW).
'The planned revamp of key laws governing bankruptcy and PPP will likely help unlock stronger FDI inflows in support of non-energy expansion,' the ICAEW said in its latest report.
Highlighting that authorities continue to take steps to attract investment and broaden diversification; it said in the last month, the government unveiled a 50% discount on business rates in industrial, logistics and commercial zones, slashed start-up fees within the Qatar Financial Centre, and launched a Digital Skills Framework, all aligned with the National Development Strategy.
The country plans to introduce three new laws as part of a sweeping review of legislation designed to make Qatar more attractive to foreign investors, the Minister of Commerce and Industry HE Sheikh Faisal bin Thani bin Faisal al-Thani had said in an interview to Reuters news agency.
The Ministry of Commerce and Industry (MoCI), in collaboration with the Qatari Economic Zones Company (Manateq), has reduced leasing rates up to 50% for five years in industrial, logistics, and commercial zones.
More than 4,000 investors will benefit from the reduced rental prices. The decision applies to Jery Al Samur Logistics Park, Small and Medium Industries Zone, Al Wakra Logistics Park, Aba Saleel Logistics Park, Mesaieed Industrial Zone, and Birkat Al Awamer Logistics Park.
The QFC has implemented a substantial reduction in the application fee for licensing an entity on its platform, dropping it from $5,000 to $500. The new fee structure applies to all applicants seeking a license to conduct non-regulated activities in the QFC, except for the activities of single family offices.
The digital skills framework, developed by the Ministry of Communications and Information Technology, is designed to empower individuals and organisations with essential skills to support Qatar's digital transformation.
© Gulf Times Newspaper 2022 Provided by SyndiGate Media Inc. (Syndigate.info).
Santhosh V. Perumal
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