Qatar urged to create economic free zones to foster entrepreneurs, create a ‘Silicon Valley of the Gulf’
The Gulf Times newspaper is quoting James Caan, CEO of the Hamilton Bradshaw private equity firm, who apparently says Qatar can create a regional version of Silicon Valley by allowing economic free zones.
Free zones – usually areas with decreased taxes and regulations, as well as access to an air, land or sea port – would “play a key role in sustaining the economy and creating jobs,” the newspaper cites him as saying. Neighbouring UAE has launched 10 such zones over the last decade.
What do you think, would free zones stimulate small businesses and innovation in Qatar, or would they just serve as a way for big business to circumvent regulations, and a space for illicit trade?