Qatar orders aid to private sector as sanctions bite | kuwaittimes

People walk on the corniche of the Qatari capital Doha yesterday. – AFP

Qatar orders aid to private sector as sanctions bite

October 08, 2017 | 08:52 p.m EDT

DUBAI: Qatar’s government announced measures to help private sector businesses on Saturday after its economy was hurt by sanctions imposed by other Arab states. Prime Minister Sheikh Abdullah bin Nasser bin Khalifa Al- Thani decided to cut rents paid by companies in Qatar’s logistics zones in half during 2018 and 2019, official news agency QNA reported. New investors in the zones will be completely exempt from paying rents for a year if they obtain building permits by certain deadlines. Qatar Development Bank, a state-founded body which lends to firms, will postpone receiving loan installments for up to six months to facilitate industrial sector projects. Sheikh Abdullah also told all ministries and government departments to increase their procurement of local products to 100 percent from 30 percent, if the local products meet necessary specifications and the purchases obey tender rules. — Reuters

October 08, 2017 08:52 PM

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