Prime Minister Issues Set of Decisions

Following the directives of HH the Emir Sheikh Tamim bin Hamad Al -Thani, and the recommendations made by the Ministerial Group to support, motivate and encourage the private sector to increase its contribution to the economic development in the State , HE the Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa Al -Thani has issued several decisions and directives to various ministries and government’s departments to support investment in the State and provide a wide range of incentives to the private sector to support local industries and increase production to ensure the provision of various commodities in local markets.

HE the Prime Minister and Minister of Interior decided to reduce the rental value by 50% for all investors in the logistics areas south of the State of the Economic Zones Corporation, during 2018 and 2019 so that the rental values will be reduced from QR 40 to QR 20 per square meter.

It is also decided to provide more exemptions to stimulate investors to speed up the completion of their projects on time, where investors are exempted in the logistics areas south of the State of the rental value of 2018 in the event of the issuance of building permits before 31 January 2018 and exempt them for 2019 in the event of the issuance of licenses to complete the construction before January 31, 2019. This will contribute to the implementation of the development of logistics areas in accordance with the time plan adopted by the Manateq (Economic Zones Company) . The decisions and directives will contribute to encouraging the private sector to enter into diversified investments in the logistics sector.

HE the Prime Minister and Minister of Interior also directed the Qatar Development Bank (QDB) to postpone the loan installments to industrial project owners approved by the Ministry of Energy and Industry’s Committee for up to 6 months to support investors in the industrial sector and give greater role to the private sector in the economic development projects in the State.

HE Prime Minister and Minister of the Interior urged all ministries and government’s departments to increase the percentage of purchasing of local products from 30% to 100%, if the local product meets the Qatari specifications and standards and in accordance with the regulations and policies of the tenders and auctions committees in the State.

Source: Fana News