Qatar Free Zones Authority (QFZA), an independent authority that regulates world-class free zones in Qatar, has announced new strategic partnerships to help drive the growth for the country’s free zones.

The memorandum of understanding, (MoU) with a leading asset management firm in the United States, marks significant progress in the establishment of regional operations by global companies in the Free Zones. As part of the first phase of the agreement, a developer and producer of energy-efficiency and thermal storage solutions, and a vertically-integrated medical nutrition company, will work closely with QFZA to identify set up opportunities in the Free Zones, and will explore partnership opportunities with local entities. In addition, opportunities have been identified with a fully-scaled large manufacturer of LED lightbulbs and a technology-enabled facilities management services company.

QFZA has additionally announced its support for and participation in Qatar Petroleum’s landmark Localization Program, “Tawteen”, which aims to enhance the energy sector’s local supply chain and is expected to create new investment opportunities in Qatar. QFZA will provide land solutions, tailor regulations, and review business plans to help maximize the success of the program, which will in turn provide a wide range of benefits for companies operating in Qatar.

QFZA discussed the importance of these and future partnerships during a roundtable discussion held on the sidelines of the US-Qatar Strategic Dialogue on January 13. QFZA deputy chief executive Abdulla al-Misnad gave a presentation outlining QFZA’s approach to driving free zone growth, including a focus on three target sectors and on strengthening trade and economic relationships with key partners such as the United States.