Land and Industrial Loan initiative launched in Qatar
The Ministry of Commerce and Industry (MoCI) has partnered with Qatar Development Bank (QDB) in order to spearhead the launch of the “Land and Industrial Loan” initiative. This will be done via the supervision of HE the Prime Minister and Minister of Interior Sheikh Khalid bin Khalifa bin Abdulaziz al-Thani, and will be in line with the “context of the State’s ongoing efforts to improve the ease of doing business in Qatar and bolster the investment environment for owners of small and medium enterprises and entrepreneurs.”
With this initiative, the government once again aims to facilitate processes for local and foreign investors by designating a “Single Window” platform where investors can apply for industrial licences. This platform of the Ministry of Commerce and Industry will also be where investors can secure land plots in the Small and Medium Industrial Area, as well as complete various financing procedures.
This welcome new development will provide well-deserved support for Qatari investors, as well as encourage entrepreneurs to invest in the country. It will promote the involvement of small and medium-sized businesses in the industrial sector with an easily accessible single platform called the Single Window Services to save valuable time and speed up the whole process.
These promising industrial projects will also receive support from the improvements of the QDB in providing financing. Online registration will be as simple as filling out and submitting the application through the ‘Single Window Services’ website on singlewindow.gov.qa. Required documents for submission include a complete feasibility study for the investor, the engineering plan, as well as a copy of the audited financial accounts of the company. There may also be additional paperwork that will be requested during the application review period. A technical team from the ministry will then review the said application along with the QDB. The application will also be reviewed by the Land Commission.
According to the Ministry of Commerce and Industry, “The initiative falls within the framework of joint efforts to promote startups, encourage promising small and medium-sized enterprises to engage in industrial activities in various sectors, stimulate manufacturing industries, improve services offered to investors and bolster Qatar’s economy in line with the Qatar National Vision 2030.”
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