QFZ Chief: Qatar & Italy Enjoy Strong Ties

The CEO of Qatar Free Zones Authority (QFZ) Sheikh Mohammed bin Hamad bin Faisal Al Thani affirmed the strong relations between the State of Qatar and the Italian Republic, as is evidenced by the high-level mutual visits, and the joint aspirations to upgrade the bilateral ties across various fields.

Speaking to Qatar News Agency (QNA), he said that QFZ seeks to create platforms for communication and cooperation, link Italian companies with local companies and government institutions, and boost cooperation and joint work through fruitful partnerships and investments, thus making Qatar a preferred investment destination for Italian companies.

On plans to promote bilateral trade, he pointed to carefully thought-out plans to enhance excellence and increase the number of companies and investors - from Italy and other world countries in Qatar’s free zones. In this context, he noted that bilateral trade between Qatar and Italy climbed by 80% to reach nearly QR20bn in 2023, compared to QR11.1bn in 2018, in the sectors of energy, healthcare, information and communications technology, infrastructure and real estate.

He added that QFZ has great aspirations to explore more investment opportunities, in line with Italy’s efforts to become a hub for business and investment; noting that the focus is currently on the sectors of technology, sustainable practices and agriculture, as was evident in Expo 2023.

He noted that both countries share common visions on enhancing innovation and expanding their economic participation, along with the tireless work of QFZ to expand the base of its strategic partners in the sectors of technology, energy and infrastructure.

Logistics and supply chain management is also among the important sectors. Qatar Free Zones offers multiple investment advantages that make them a distinct destination and a major attraction for trade operations between Europe, Africa and Asia, which is reflected positively in cooperation relations with Italian companies in the field of logistics, supply chain efficiency, and facilitating the movement of goods, especially as the two countries seek to strengthen trade relations, he added.

He also pointed to the healthcare and biomedical sciences sector which holds great potential for cooperation, especially in the field of biomedical sciences research and healthcare technology. He noted that Italian companies can be a reliable partner for the State of Qatar in its quest to improve its healthcare services and innovations related to this sector, in light of their extensive experience in the field of medicines and medical devices.

Highlighting the importance of the energy sector, he said that Italian companies can leverage Qatars position as one of the worlds largest producers of liquefied natural gas (LNG), particularly in the field of energy technology and sustainable practices, noting that Italian companies, such as ENI, are already working on major energy projects in Qatar, and the door is open for increased cooperation in renewable energy initiatives.

Additionally, initiatives aimed at consolidating innovation and entrepreneurship in both countries will reveal new job opportunities within the free zones. By focusing on these areas, Qatar and Italy can achieve significant growth in trade relations, especially with the investment benefits and great support that QFZ offers to investors, he stressed.