Saturday, September, 26, 2020 04:29:16
  • QFZA’s MoU with the CHEC will establish a clean energy bus assembly factory.

  • QFZA’s MoU with CCPIT will ensure the establishment of a B2B consultation platform.

Independent administrative body QFZA (The Qatar Free Zones Authority) has reportedly made it to the front page for having inked three pivotal memorandums of understanding (MoUs) with prominent Chinese bodies. As per sources familiar with the knowledge of the matter, the MoUs have been signed to expedite growth within the wider Qatari economy.

One of the MoUs has apparently been signed with the CHEC (China Harbour Engineering Company), a reputed contractor, and aims to set up a clean energy bus assembly unit at the Qatar Free Zones by assessing cooperation on investment opportunities. Spanning 50,000 square meters, the clean energy bus assembly factory will be catering to both the domestic and regional markets, complemented by a spare parts processing, machinery, and transfer warehouse that would be set up near the Hamad Port that would cater to the demands across the EMEA zone.

The QFZA has signed another MoU with the CCPIT (China Council for the Promotion of International Trade) to ensure co-operation through information exchange mechanisms and set up a business-to-business consultation platform. Seemingly, the partnership also entails focus on exchange implementation for helping business communities better understand relevant regulations that administer business activities in China or Qatar.

According to a report by The Gulf Times, the CCPIT will also help companies in China better understand QFZA’s policies and regulations.

Sources familiar with the matter claim that the third MoU has been signed with the Xiamen-FTZ – the administration of Xiamen Area, China Pilot-Free Trade Zone. The MoU entails collaborations to identify investment opportunities and develop pivotal industries to expedite manufacturing alongside improving R&D activities to deliver more job opportunities.

Credible reports cite that as a part of the partnership, both Xiamen-FTZ as well as the QFZA will be focused on implementing training programs for the staff with respect to subjects such as company capacity building, trade promotion, as well as professional skills.