The Qatar cabinet has endorsed a draft law to set up free economic zones, according to state news agency QNA.         

The move to boost foreign investment into the country is dependent on the zone the being created “for the purpose of executing projects and stimulating and attracting investments”, according to QNA.        

Upon being granted the zone, Qatar’s economic zones company Manateq will specify its borders, which can include sea ports and airports. Within the zone, corporate entities will be able to take advantage of the free transfers of all capital, revenues and investments out of the country.          

Successful applicants will be given a 50-year mandate to manage, develop, operate and maintain the zone.