By Sachin Kumar
DOHA: Manateq, a leading provider of special economic zones in Qatar, will start accepting enquiries for its Ras Bufontas Special Economic Zone (SEZ) from this year, said a senior official of the company. The world class zone will offer host of incentives such as residential area, showrooms, hotel and other amenities to companies.
“We will start taking enquiries from companies in 2016. We will finish the first phase-1 in 2017,” said Adel Waly, Business Development Manager at Manateq, while giving overview on special economic zones at the InterContinental Hotel.
He gave presentation on ‘Manateq overview of Special Economic Zones, Logistic and Warehousing Parks in Qatar’ during ‘Monthly Tuesday Evening’ organised by Qatari French Business Club. Located near the Hamad International Airport, the ambitious Ras Bufontas project is being developed in an area of over 4.1 sq kms. The specialised zone will be dedicated to companies from communications, infotech, energy, logistics, construction, transportation and other sectors.
“Economic zone-1 will have companies from sectors such as Technology, Healthcare and Medical Devices, Advance Manufacturing and Business Services. About 5 percent of the area in this zone is set aside for residential units. The zone will also have a hotel, and showrooms,” said Waly. “Manateq is playing very important role in setting up economic zones, logistic parks, and warehousing parks in Qatar,” he added.
Officials in the company also believe that a new law, that will allow 100 percent ownership to foreigners, will further attract international companies.
“We expect more enquiries from international companies after enactment of the new law.
“With this new law coming into force, any company setting up in Special Economic Zones can have 100 percent ownership,” said another senior official of Manateq.
“These zones will allow international companies to cater to the demand of other markets in the GCC region,” he added.
Manateq is focused on building and managing world-class infrastructure to facilitate industrial and service sector growth, said the official.
The company is also developing another special economic zone in Um Alhoul near Hamad Port.
It will house companies from marine industries, logistics, electrical and machinery, food and beverage, construction and building materials, metals and materials, and downstream petrochemicals.
The third special economic zone is planned near Al Karaana closer to Saudi Arabia border.
It is strategically planned near the border to take benefit of the large amount of trade between Qatar and Saudi Arabia.
The Peninsula
