ADVISORY COUNCIL OKAYS AMENDMENT OF INVESTMENT FREE ZONES LAW

Under the chairmanship of HE the Speaker Ahmed bin Abdullah bin Zaid Al-Mahmoud, the Advisory Council, in its regular weekly session, approved yesterday the Decree Law No 21 of 2017 amending some provisions of Law No 34 of 2005 on Investment Free Zones, and decided to submit its recommendations to the esteemed government.

The Speaker stressed the importance of the amendments to this law, which will enhance the investment climate in the country, push the economic development, open new horizons to the private sector and benefit citizens and foreign investors.

HE Al-Mahmoud added that the amendment of the law comes within the framework of catching up with the latest developments and economic changes internally and externally, and it responds to the objectives and principles of Qatar Vision 2030.

He noted that the economic growth witnessed by Qatar, the rapid pace of the development movement in the country, and the confidence gained by the Qatari economy regionally and internationally, imposed these amendments, under which the Free Zones Authority will be granted administrative and financial autonomy, expanding its powers to issue licenses to companies registered in the Free Zone.

Source: Government of Qatar