Qatar Free Zones Authority (QFZ) and Qatar National Bank (QNB), officially inaugurated the newest QNB office at the Business Innovation Park (BIP) in Ras Bufontas Free Zone. The opening was attended by officials from QFZ and QNB, including Mr. Naif Al Suwaidi, Chief of Regulatory Affairs at QFZ, who represented QFZ, and Mr. Khalid Ahmed Al-Sada, Senior Executive Vice President, QNB Group Corporate and Institutional Banking, and Mr. Adel Ali Al-Malki, Senior Executive Vice President, QNB Retail Banking Group.

The office opening follows on from the signing of a Memorandum of Understanding (MoU) between QFZ and QNB, which affirmed co-operation between the two entities in efforts to attract FDI and support companies investing in QFZ, by providing a range of banking services and benefits to these companies and investors. As one of the primary banks providing services and banking products to investors wishing to establish or run their operations from the free zones, this partnership goes hand in hand with QFZ’s dedicated Investor Relations Center in facilitating and accelerating the necessary processes for getting businesses up and running in Qatar.

On the occasion of the office branch opening Mr. Naif Al Suwaidi, Chief of Regulatory Affairs at QFZ, said: “The opening of a QNB office at the Business Innovation Park within Ras Bufontas free zone aligns with our ongoing efforts to promote foreign direct investment in Qatar and exemplifies our commitment to fostering relationships with other Qatari organizations to this end. The presence of QNB at our Business Innovation Park will mean investor needs can be met even more efficiently and seamlessly, further bolstering QFZ’s position as a unique investment destination in the region and the world and supports our plans for economic diversification in line with the Qatar National Vision 2030.”

Commenting on the partnership, Mr. Khalid Ahmed Al-Sada, Senior Executive Vice President, QNB Group Corporate and Institutional Banking, said: “Through our partnership with Qatar Free Zones Authority (QFZ), we’re committed to fostering investment in Qatar by offering dedicated banking services, ensuring seamless support for businesses to thrive and grow.”

The partnership with QNB showcases QFZ’s commitment to providing investors everything they need to thrive in Qatar’s free zones. By working with QNB to facilitate banking services for local and international investors, the conducive business environment fostered within the free zones is further strengthened and both entities can jointly contribute to economic development.

It is worth mentioning that QFZ is an integrated platform offering outstanding opportunities for local private sector companies to grow and expand their businesses both regionally and locally through partnering with international investors. QFZ is focused on key sectors where it offers a strong competitive advantage for businesses, such sectors are; Emerging Tech., Logistics & Trading, Industrial & Consumer, Marsa Maritime Development, Aerospace & Defense, Food & Agritech., and Biomedical Sciences.