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Qatar Launches New Special Economic Zone

by Lorys Charalambous, Tax-News.com, Cyprus

06 March 2015


A new special economic zone (SEZ) has been confirmed in Qatar near the new Hamad Port, just south of Al Wakrah.

The zone, to be known as Um Al Houl Special Economic Zone, will seek to attract companies from the petrochemicals, building materials, maritime, metals, logistics, food processing, automobiles, tools, and machinery sectors.

The new zone, announced on March 2, is one of three SEZs being developed by Manateq, a company established by the Ministry of Business and Trade in 2011. Manateq intends to allow investors to develop land on the 33.52-square-kilometer site from the second quarter of 2016.

Manateq's SEZs will offer zero duties on trade within the Gulf Cooperation Council and low import duties or exemptions for inputs and machinery.

Qatar's Minister of Economy and Commerce, Ahmed bin Jassim bin Mohamed al-Thani, said: "This groundbreaking ceremony of Um Alhoul special economic zone is testament to the firm resolve and unwavering commitment of the State of Qatar towards a strategically and fully diversified economy."

TAGS: tax | export duty | Qatar | food | import duty | Gulf Cooperation Council | trade | free trade zone | Economy

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