Article – Qatar launches first of 3 new economic zones

by 12 December 2014

25 November 2014
MENAFN

Qatar announced it has launched the first of three new special economic zones established to help the country with diversifying its economy, Arabian Business reported.

The Ras Bufontas Economic zone, which is built over 4.1 square kilometers near the new Hamad International Airport, will specialize in companies in the communications, InfoTech, energy, logistics, construction, transportation among other sectors.

The Qatari government said that the special economic zones would be the base of the country’s private sector, focusing on small and medium enterprises, as the country puts its focus on the private sector as well as entrepreneurship to build a knowledge-based economy.

“Today’s launch of the Ras Bulfontas Special Economic Zone project for technology and logistics sectors is an example of the government’s efforts to support the private sector,” Qatari Prime Minister said.

Qatar, which is expected to record a surplus of USD2 billion in 2014, said that its GDP is expected to register an increase between 6.5-7 percent to about USD780 billion.

Courtesy of MENAFN

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