(MENAFN- The Peninsula) QNA
Doha: A sectoral study conducted by the Investment Promotion Agency in Qatar showed that the growth rates of the logistics market in the country will outperform those in the GCC countries during the period 2020-2026.
The study said that with the promising outlook for global supply chains, logistics and warehousing, with a total value of about $9.5 trillion in 2021, ambitious investors will have the opportunity to benefit from the advanced infrastructure, thriving industrial activity and business-friendly approach that characterizes Qatar.
The study pointed to the balance that the State of Qatar possesses in this field, as it ranked among the first 20 percent of countries in the world in the field of logistical performance, and it is also the second in this regard in the Middle East region.
And its performance is based on the main pillars of access to capital, which means ready-made and integrated industrial facilities for entrepreneurs and owners of small and medium-sized companies, coupled with low electricity tariffs, tax exemptions, and customs exemptions on imports in free zones.
Also among these pillars are well-established support systems where free, industrial and logistical zones are on a global level, providing a business-friendly environment and many means of support for foreign investors, in addition to a flexible transportation and logistics network that provides global communication through Hamad International Airport and Hamad Port, as well as various trading partners that provide vital materials and goods.
Among these pillars is an advanced technological structure, as Qatar ranks third in the Arab world according to the Network Readiness Index for the year 2021, and it encourages the adoption of innovation, as the Qatar Center for AI develops the latest artificial intelligence tools and technologies to manage logistics, warehousing and space.
The study stated Qatar is full of untapped potential for foreign investors, especially if the rapid growth witnessed by the e-commerce sector is added to it, and the numerous trade and investment agreements concluded by the country, which include over 25 bilateral investment and 80 non-double taxation agreements.
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