Logistics sector to attract QR30bn direct investment
06 Mar 2017 - 22:43
The ongoing development projects in Qatar’s logistics sector is expected to attract an estimated QR30bn direct investments to this sector. The ongoing mega development projects in the southern area of the country reflect an important step towards achieving the country's quest to diversify its economic base and support competitiveness of the private sector in order to increase commercial movement, support local products and diversify non hydrocarbonic investments.
The Logistics Committee of the Ministry of Economy and Commerce, has set up the general policies for the logistics areas project in order to ensure the participation of all categories of investors, and encourage small investors to participate in the project, which is set for completion in mid-2018, and aims at developing and operating logistics areas south of the state, to ensure optimization of these investments before organizing the 2022 World Cup, QNA reported. In the context of facilitating procedures for investors and speed up the completion of development projects, the Ministry of Economy and Commerce Technical Committee to stimulate private sector participation in economic development projects announced the completion of preparing the lands allocated for the logistics areas project in the southern regions ahead of schedule, in preparation to be delivered to investors in collaboration with the Special Economic Zones company (Manateq).
The Committee completed the signing of booking and rental contracts with investors, and provided ready-made designs for the construction of warehouses and stores to facilitate the work of the small investors.
The big turnout by Qatari investors and companies to enter into investment projects in the logistics areas reflect the extent of awareness and understanding of the economic importance of such projects.
In statements after announcing the winners in the public draw for owning lands in the logistics areas, Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim bin Mohammed Al Thani praised the potentials investors, and their ability to compete, which emerged through their varied and innovative investments which would represent a real addition to the national economy.
He stressed that the Technical Committee was keen to develop specific criteria in order to encourage investors toward the diverse economic sectors, in implementation of the directives of H H the Emir Sheikh Tamim bin Hamad Al Thani to develop integrated programs to support the private sector and to direct it towards the most productive sectors in line with Qatar National Vision 2030.
The Minister reaffirmed Ministry's keenness and its ongoing quest to put forward ideas and initiatives to build a diverse and competitive economy for the coming generations through clear visions aimed at activating the role of the private sector to play its role in the overall development process.
The logistics areas project is one of the Qatari government's largest projects and includes 1583 pieces of land on an area of (6.330.907 m2).
The major project will have positive impact on the market and the prices of logistics and warehousing in the near future. The project also adds a strategic dimension as it is located at a distance close to Hamad Port, Mesaieed Industrial Port and the Orbital Highway, which will serve the specific investments in this project.
The project will provide many logistics services, including: assembly services, processing, open storage spaces, the various storage applications (refrigerated warehouses, frozen stores, dry stores), exhibitions, shops and commercial offices, labor camps, car maintenance and storage, assembly and processing for light industry, service centers, supplies and warehouses.
The project provides a typical business environment and includes integrated infrastructure at global standards taking into account roads, extension of the rainwater drainage system, landscaping spaces, integrated housing for workers and services centers.