Qatar's government announced measures to help private sector businesses today after its economy was hurt by sanctions imposed by other Arab states. <br/><br/>Prime Minister Sheikh Abdullah bin Nasser bin Khalifa Al-Thani has decided to cut rents paid by companies in Qatar's logistics zones in half during 2018 and 2019. <br/><br/>According to official news agency QNA, new investors in the zones will be completely exempt from paying rents for a year if they obtain building permits by certain deadlines. <br/><br/>Qatar Development Bank, a state-founded body which lends to firms, will postpone receiving loan instalments for up to six months to facilitate industrial sector projects. <br/><br/>Qatar's economy expanded just 0.6 percent from a year earlier in the April-June quarter after Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic and transport ties on June 5. The four states accuse Doha of supporting terrorism, which Doha denies.
News On AIR | October 8, 2017 6:20 AM
Qatar's govt announces measures to help private sector businesses