In a bid to boost the private sector and attract investors, Qatar has reduced rental value for 2018 and 2019 at logistics zones.
The announcement was made by Sheikh Abdullah bin Nasser bin Khalifa Al Thani, the country’s prime minister and interior minister, under directions from the Emir of Qatar Sheikh Tamim bin Hamad Al Thani.
The move is an attempt to encourage the growth of Qatar’s private sector at a time of economic blockade.
— The Life Pile (@thelifepile) October 4, 2017
Under the new measures, rental value at the logistic zones around the country will be reduced by 50 percent for the coming two years.
Also, the Prime Minister urged authorities to provide more exemptions for private sector investments, to help them speed up completion of ongoing projects and eventually speed up the full development of the logistics zones.
— The Life Pile (@thelifepile) September 7, 2017
In the southern parts of the country, all investors are exempted of rental fees for 2018 if they are granted building permits before January 31, 2018, and of all rental fees in 2019 if they get the permits before January 31, 2019.
At the same time, Sheikh Abdullah instructed all ministries and government departments to only procure local products, raising government use of locally produced products from 30 percent to 100 percent. Still, they need to meet the required specifications and the purchases must obey tender rules.