Qatar Free Zones Authority (QFZ) and Samsung C&T Corporation – the global company headquartered in the Republic of Korea – signed a Memorandum of Understanding to collaborate in green, environmentally friendly and sustainable technologies in key sectors in the State of Qatar and the region.
The signing ceremony was held on the sidelines of the Qatar-Korea Business Forum which was held during the visit of H.E. Yoon Suk Yeol, President of The Republic of Korea and the accompanying business delegation to the State of Qatar. The signing ceremony took place in the presence of H.E. Sheikh Mohammed Bin Hamad Bin Qassim Al-Abdullah Al-Thani, Minister of Commerce and Industry in the State of Qatar, H.E. Mr. Mohamed bin Ahmad Twar Al- Kuwari, First Vice Chairman in Qatar Chamber and Mr. Hyungkeun Chi, Executive Vice President of Samsung C&T Corporation. The MoU was signed by Mr. Hamad Abdul Aziz Al- Mohannadi, Strategic & Commercial Development Director in Qatar Free Zones Authority, and Mr. Seug Ung Choi, Vice President & Qatar Country Manager at Samsung C&T Corporation, and attended also by senior officials from both sides.
Under this collaboration, both parties will work together to achieve sustainability objectives within the free zones in the State of Qatar, through initiatives relating to green products and services, including energy transition, conservation and efficiency, harnessing sustainable materials and eco-friendly electronics. They will also explore co-investment opportunities in green infrastructure within the free zones. Additionally, both sides will identify operational projects and initiatives that will serve QFZ and the State of Qatar, in addition to the GCC and MENA regions.
The key strategic sectors of collaboration in sustainable technologies under this partnership include: energy, automotive, chemical and sustainable materials, consumer electronics, medical equipment, electronic components and semi-conductors, ship building and food technology industries among others.
This partnership is considered a continuation of the State of Qatar’s constant efforts to implement a comprehensive approach to integrate sustainability into all sectors and industries. Qatar has always put environmental protection and sustainable development at the forefront of its priorities; it was one of the first countries to rectify the UN Framework Convention on Climate Change in 1996. Considered one of the region’s largest power plants, the Al Kharsaah solar power plant is one of the most notable sustainability efforts undertaken in the State. Qatar is also home to the Lusail Bus Depot, registered in the Guinness World Records as the world’s largest electrical bus depot.
Mr. Hamad Abdul Aziz Al- Mohannadi, Strategic & Commercial Development Director at Qatar Free Zones Authority (QFZ) said commenting on the signing: “We are pleased to hold this partnership with Samsung C&T Corporation, which comes in line with Qatar National Vision 2030 towards sustainability and transition into a knowledge – based economy. It is also aligned with QFZ’s vision and continuous efforts to partner with key global partners and contribute jointly to the development of sustainable technology, and promoting it in the State of Qatar and the region.”
Mr. Seug Ung Choi, Vice President & Qatar Country Manager at Samsung C&T Corporation said from his side: “We are honored to witness the signing of this MOU with Qatar Free Zones Authority. Samsung C&T Corporation has long been active in the Qatari market where they executed mega projects in power, infrastructure and renewable energy and is keen to develop its relationship with Qatar Free Zones Authority in various sectors and has ambitions to explore clean energy initiatives to bolster the green wave currently sweeping the planet”.
Qatar Free Zones Authority offers modern green infrastructure to its investors and is committed to sustainability in every aspect of its operations. The Free Zones are also designed to be as efficient as possible, making use of a wide range of innovative technologies.