HE Qatar's Prime Minister Highlights Importance of New Ras Bufontas Project

Doha, November 24 (QNA) - Under the auspices of HE the Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa, the foundation stone of the Ras Bufontas Special Economic zone project for technology and logistics sectors was laid Monday. During the tour of the accompanying exhibition, HE the Prime Minister told the press that the new project is one of three new economic zones that will represent a big lift to the economy, His Excellency added that the new zones are in compliance with Qatar National Vision 2030. HE the Prime Minister said that the new project includes new storage spaces, exhibitions and a number of factories. His Excellency highlighted the government' commitment to the private sector, in accordance with the directives of HH the Emir Sheikh Tamim bin Hamad Al-Thani in the latest speech made at the Advisory Council. For his part, HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed Al-Than said he was extremely honored and delighted to welcome you all to this ceremony in connection with the groundbreaking of Ras Bufontas, one of three specialized economic zones of Manateq. As such, this groundbreaking ceremony of Ras Bufontas is a significant step forward towards the realisation of one of the four pillars of the Plan, which is that of Economic Development. He said "This ceremony comes Under the High Patronage of HH Sheikh Tamim Bin Hamad Al Thani, Emir of the State of Qatar, where the State of Qatar is relentless in its pursuit of the aspirations contained in the Qatar National Vision 2030 Plan. " To achieve our quest of being a significant and influential player in a highly globalized economy, Qatars efforts in establishing a widely diversified economy must be built on a solid foundation that includes strong private sector and SME participation. for building a strong, diversified, and dynamic Economy. "Having identified key factors that will spur the development and growth of SMEs and the private sector, Manateq was specifically created in 2011, to provide the necessary infrastructure, policies, and services required. Through the development and operation of world-class facilities that address the needs of a wide range of business sectors, as well as the corresponding ease of doing business policies, Manateq aims create further opportunities for business profitability and growth. We aim of transform Qatar into an advanced country by 2030, capable of sustaining its own development and providing for a high standard of living for all of its people for generations to come''. HE Sheikh Ahmed bin Jassim bin Mohamed Al-Than said for this purpose, Ras Bufontas, along with two other specialized economic zones Abu Nakhla and Um Alhoul will serve as the base of a homegrown private sector that comprises a complex yet harmonious web of successful SMEs. "Investors applications for Ras Bufontas will be received as of the second quarter of 2015, while lands allocation for the first and second development phases will be delivered to investors as of the first quarter of 2016," he concluded. Meanwhile the Chief Executive Officer of Manateq Economic Zones Company Fahad Rashid Al Kaabi said that Ras Bufontas extend over a 4km area. One of the highlights of the project is its strategic location adjacent to Hamad International Airport will bring easy access to and turn it into a commercial destination in the Gulf region. He added that another benefit is that Ras Bufontas will allow Manateq to establish an investment platform for local and international businesses through the services offered due to the zones proximity to the new airport such as air freight and logistic services, which enables a seamless flow of goods between this zone and the remaining zones. Additionally, companies will benefit from a one-stop-shop for various essential services to start their operations within the specialized economic zones. Manataq's CEO said that Ras Bufontas will be finished on three phases. Phase one, two and three will on 2017, 2018 and 2019 respectively. (QNA)