Tribune News Network
Doha
In a significant development for Qatar’s international investment landscape, the Qatar Free Zones Authority (QFZ) has announced a landmark agreement with China’s Luyi Holding Group to establish a sprawling, state-of-the-art industrial park within Qatar’s Umm Alhoul Free Zone.
The partnership reflects a shared ambition to leverage Qatar’s strategic location and advanced infrastructure to boost industrial diversification, attract foreign investment, and strengthen Qatar’s industrial foundation as part of the country’s broader economic vision.
The agreement was signed on the sidelines of the China International Import Expo (CIIE) in Shanghai, a globally recognized event that serves as a critical platform for multinational investment announcements. The partnership was formalised by Qatar Free Zones Authority CEO Sheikh Mohammed Bin Hamad Bin Faisal Al Thani and Luyi Holding Group Chairman Yin Haijie underscoring the growing economic ties between Qatar and China.
The industrial park, to be located in Qatar’s Umm Alhoul Free Zone, marks a significant addition to Qatar’s evolving industrial landscape. Phase 1 will cover an area of 282,000 square meters and will include versatile industrial units ranging from 5,000 to 30,000 square meters, with facilities designed for immediate operational use.
These units will cater to various high-demand sectors, including the production of plastic and metal goods, performance materials, and solar panels, directly supporting Qatar’s drive to localise critical industries and reduce dependency on imports.
The initiative aligns closely with Qatar National Vision 2030, which aims to diversify Qatar’s economy beyond its historical reliance on the energy sector by cultivating advanced industries and fostering a knowledge-based economy.
Speking on the occasion, Sheikh Mohammed highlighted the importance of this project, calling it a “crucial milestone in Qatar’s strategic drive to diversify its economy, attract foreign investment, and strengthen the localization of key industries.”
He added that Qatar’s free zones provide a compelling environment for global businesses due to their advanced infrastructure, progressive regulations, and attractive investment incentives. “This partnership with Luyi Holding Group reinforces Qatar’s position as a globally competitive investment destination,” he said.
The new industrial park is expected to create a ripple effect across Qatar’s economy. By attracting leading international companies, it will not only boost Qatar’s industrial capabilities but also open up significant opportunities for local businesses in related sectors such as logistics, construction, and technology services. This development is anticipated to generate thousands of employment opportunities, allowing for skill enhancement and knowledge transfer within Qatar’s workforce.
The strategic location of Umm Alhoul Free Zone, with its proximity to Hamad Port, makes it an ideal site for this major industrial project, enabling seamless logistics operations and efficient export capabilities. The park will be designed to support high-efficiency operations and will integrate advanced technology and sustainable practices, aligning with global standards for industrial parks of this scale.
Yin Haijie emphasised how the industrial park aligns with the objectives of China’s Belt and Road Initiative, a global development strategy aimed at enhancing regional connectivity and fostering trade and economic growth across Asia, Africa, and Europe.
“Qatar’s strategic location, modern infrastructure, and favorable investment climate made it the clear choice for our expansion into the Middle East. This project will strengthen Sino-Qatari economic relations and position Qatar as our regional operational hub,” Yin said.
By partnering with Luyi Holding Group, Qatar positions itself as an influential node within the Belt and Road Initiative, facilitating trade and industrial cooperation that transcends regional boundaries. This collaboration also builds on the growing economic partnership between Qatar and China, two nations that have, over recent years, strengthened their ties through several joint ventures and high-profile investments.
