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.”
Afreno is a Business Consultancy that draws on its long presence, over 10 years in fact, in the field of forming companies, while capitalizing on its impressive know-how at both local and international levels. This endeavor also extends to developing local partnerships and offering excellent opportunities in real estate.
Unlike any other Business Consultancy company in the State of Qatar, Afreno includes under its umbrella three closely-linked comprehensive services: business advice, legal negotiation and real estate possibilities. This means that any project, however complex, can be dealt with in all its aspects. Added to this is our wide range of reliable clients and trusted business contacts, plus our up to the minute awareness of what is going on in the markets, whether GCC or local. Your business venture will be backed by our in-depth knowledge, the valuable connections we have built over time, and our solid reputation, ensuring that you succeed quickly, whatever enterprise you are involved in. All this will be achieved with the minimum of stress; unsurprisingly Afreno has become the point of reference for anyone wishing to incorporate or grow their business in the local market.