Qatar and Singapore sign MOUs to enhance investment ties
Qatar Free Zones Authority (QFZA), an authority that develops free zones in Qatar and sets the strategic direction as well as formulates and governs policies for businesses operating in the free zones, recently signed Memorandums of Understanding (MoU) with two leading entities in Singapore: Intellectual Property Office of Singapore (IPOS), an innovation agency that uses intellectual property (IP) expertise and networks to drive growth in Singapore. And CrimsonLogic PTE LTD, an organisation that delivers world-class eGovernment solutions.
The signings took place as part of the 2nd annual Implementation Monitoring Mechanism (IMM) meeting held today in Singapore. The meeting was co-chaired by Qatar Deputy Prime Minister and Minister of Foreign Affairs Sheikh Mohammed Bin Abdulrahman Al Thani and Singapore Minister for Foreign Affairs Dr. Vivian Balakrishnan, and focused on the strong relationship between Qatar and Singapore and their shared commitment to continued bilateral cooperation.
Lim Meng Hui, CEO of QFZA, said, “We are excited to partner with CrimsonLogic and IPOS to strengthen QFZA’s value proposition to our tenants, investors and partners, both locally and globally. At QFZA, we consistently embrace innovation and technology to create a favourable business environment and achieve greater business efficiency for our partners.” Abdulla AlMisnad, Deputy Chief Executive Officer of QFZA, added, “These agreements promote bilateral economic relations with Singapore and foster knowledge-sharing initiatives, and are a testament to our ongoing commitment to strengthening Qatar’s position as a global hub for trade.”
Mr Daren Tang, Chief Executive of IPOS said, “The Intellectual Property Office of Singapore and the Qatar Free Zones Authority share a common goal of supporting innovation-driven growth. Through this MOU, we will work together to support innovative enterprises seeking business growth through the strategic use of their intangible assets and IP. In particular, we will put in place various IP programmes, training, events and advisory services, which we hope will strengthen our respective innovation ecosystems and enrich the connections between our innovation communities.”
Under the MoU, QFZA and IPOS will strengthen collaboration on intangible assets (IA) and intellectual property (IP) to support bilateral economic relations, promote best practice and technology exchanges, develop skills in these areas within free zones and facilitate economic development. While the MoU with CrimsonLogic and QFZA aim to develop a roadmap for QFZA to use a CrimsonLogic Trade Facilitation Platform (TFP), to enhance and streamline trade processes and facilitate trade between Qatar and existing and target trading partners.