More GCC investors than expected have shown interest in the the government-sponsored Own Your Factory in Qatar in 72 Hours project.
When Single Window launched the Own Your Factory in Qatar project in June, they didn’t expect nearly 10,000 investors to apply. Despite 87% of applicants being from Qatar, a remarkable number of submissions were made from Saudi Arabia, the United Arab Emirates and Egypt – all of which have been engaged in political tension with Qatar over the past 3 months.
In less than a month, more than 9,300 applicants from up to 50 countries have shown interest in the project. The 250 opportunites cover eight main industries, including metal, food, medical, paper, chemicals and electrical, as well as equipment and vehicles, and rubber and plastic.
The initiative is part of an investment-drive effort sponsored by the state and promises qualifying investors licensing and land grants within 72 hours. Along with the business licence and land, the investors will be granted instant visas for employees and ready infrastructure that includes water, electricity and roads.
Despite the political situation, a surprising number of applications were submitted from citizens of the siege countries. More than 41 applicants came in from Egypt, while 24 were from Saudi Arabia and 15 from the UAE. .
The investors were mostly interested in the food industry, to which 3,168 applications were submitted. It was followed by 1,334 applicants showing interest in the metal industry, 1,086 in paper, 941 in rubber and plastics, 826 in chemicals, 732 in electrical, 710 in medical, and 552 interests in machinery and vehicles.