People who have lived in Qatar for a very long time, some of them all their lives, have reasons to cheer as the country is working on the draft of a Permanent Residency Law.
The draft of the law, which will allow beneficiaries to undertake commercial activities and own residential and investment properties, will be presented to the Advisory Council (Shura) next month in preparation for its issuance, reported Gulf Times.
The path breaking development was confirmed by HE the Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa Al Thani during an interview with Qatar TV.
“HH The Emir also gave directions to prepare a draft law for the ownership of real estate for non-Qataris. The project will be completed within one month of its date and will be implemented during the coming year,” he said.
When asked about the future of Qatar’s economy, the top official said that the government was working to create a more competitive economic environment that can better attract investment.
“Many strategic projects for the state will be announced, including new free zones to attract domestic and foreign investments, the localization of some industries in Qatar, the protection of local products, and the provision of low-cost storage areas, which will bring great benefits to the State, the private sector, citizens and residents,” he said.
An agency to encourage investment in the country will be created soon, he said.
Highlighting the role of the Hamad Port in beating the illegal siege, he said it is a strategic project not only for Qatar, but for the region.
“Thankfully, we now have 10 routes, and have reached almost 70 destinations around the world. Through the port, we attracted international shipping companies, and have acquired about 27% of cargo in the Middle East.”