(MENAFN- Gulf Times) Qatar's investor-friendly business environment and the solid economic growth rates and the efforts to enhance co-ordination and co-operation among all government and private agencies to promote the country as an attractive investment environment has been highlighted at the International Products Exhibition and Conference (‘IPEC 2018'), which concludes today.
The co-ordinating committee for the Single Window System Management, which was established in 2016 based on a decision by the office of the Prime Minister to redesign, facilitate, and accelerate all operations related to business services for all sectors, highlighted its achievements and its future goals to attract investments to Qatar.
The committee represents one of the key government initiatives launched to develop Qatar's business environment, stimulate real participation of the private sector, encourage domestic and foreign investments, and channel them towards sectors with added value to the national economy in line with Qatar National Vision 2030.
The committee's first initiative was the launch of the Single Window System, which streamlines the administrative procedures in the state. The second initiative, the ‘Own your Factory in Qatar', helps investors in the industrial sector get all the necessary facilities to start a business in just 72 hours. Realising a slew of achievements, the committee managed to establish more than 5,000 local companies and 80 international to date, as well as reducing the time spent on the process of issuing licenses from one year and half to only 72 hours to fast track the establishment of 60 factories in eight different sectors such as food, metal, paper, rubber and plastic, chemical, electric, medical, machinery, and vehicles; a total of 8,000 applications were submitted by investors so far.
In a panel discussion during ‘IPEC 2018', Salman Mohamed Kaldari, the chairman of the Co-ordinating Committee for the Single Window System Management, gave an overview of the privileges provided for the foreign investors.
He said the Single Window System is based on two main pillars: to facilitate, simplify, and link all the procedures provided by 21 governmental entities related to establishing or issuing a licence for a new business; the other pillar is to facilitate the dealings of the local and foreign investors at a single window.
The committee's ultimate goal is to become an ideal platform for foreign investor to benefit from a broad range of services that helps them complete all their operations and communicating with 21 different governmental bodies through a single window, and grant them access to information and investment opportunities for entering the Qatari market in best international practice. Kaldari said Qatar, through the Single Window System, offers a wide range of privileges for qualified investors, which includes helping investors get all the necessary facilities to start a business in just 72 hours, providing immediate access to visas, offering guarantees with land readiness of industrial infrastructure like water, electricity, gas, and near to Hamad Port, and the air cargo network, in addition to giving priority in government procurement to national products.
He also stressed the importance of the Single Window System's role as knowledge base in providing information about investment opportunities from governmental entities concerned, and therefore contributes to the development of the national economy, and enhances its competitiveness and ability to attract foreign direct investment.
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