Doha, February 19 (QNA) - A sectoral study conducted by the Investment Promotion Agency in Qatar showed that the growth rates of the logistics market in the country will outperform those in the GCC countries during the period 2020-2026.

The study said that with the promising outlook for global supply chains, logistics and warehousing, with a total value of about USD 9.5 trillion in 2021, ambitious investors will have the opportunity to benefit from the advanced infrastructure, thriving industrial activity and business-friendly approach that characterizes Qatar.

The study pointed to the balance that the State of Qatar possesses in this field, as it ranked among the first 20 percent of countries in the world in the field of logistical performance, and it is also the second in this regard in the Middle East region.

And its performance is based on the main pillars of access to capital, which means ready-made and integrated industrial facilities for entrepreneurs and owners of small and medium-sized companies, coupled with low electricity tariffs, tax exemptions, and customs exemptions on imports in free zones.

Also among these pillars are well-established support systems where free, industrial and logistical zones are on a global level, providing a business-friendly environment and many means of support for foreign investors, in addition to a flexible transportation and logistics network that provides global communication through Hamad International Airport and Hamad Port, as well as various trading partners that provide vital materials and goods.

Among these pillars is an advanced technological structure, as Qatar ranks third in the Arab world according to the Network Readiness Index for the year 2021, and it encourages the adoption of innovation, as the Qatar Center for Artificial Intelligence develops the latest artificial intelligence tools and technologies to manage logistics, warehousing and space.

The study stated that Qatar is full of untapped potential for foreign investors, especially if the rapid growth witnessed by the e-commerce sector is added to it, and the numerous trade and investment agreements concluded by the country, which include more than 25 bilateral investment agreements, 80 non-double taxation agreements, as well as 20 free trade agreement.

The study added that Qatar has developed modern logistical systems, linking its world-class airport and seaports with a network of roads and advanced logistical infrastructure, which has enhanced the importance of its strategic location. It comes as no surprise that its logistics market has grown by 7 percent over the last five years.

The most significant achievement was the successful integration of the entire commercial value chain, ensuring seamless interconnection between key export and import players such as Qatar Navigation (Milaha) and Maersk, logistics service providers such as DHL and DB Schenker, and warehousing and retail companies.

It pointed out that with the development of the world, and its constant endeavor to find faster, more sustainable and smooth ways to transport, store and deliver goods, these activities will steadily focus on integrated logistics centers such as those established by Qatar, creating numerous opportunities for investors and companies in areas related to the country's warehousing and logistics chains.

This comes at a time when the imbalances caused by the Coronavirus (Covid-19) pandemic are expected to continue around the world for years to come, whether in terms of testing the resilience of supply chains and the global logistics sector or highlighting the weaknesses and opportunities available in these areas.

The State of Qatar, which has around two billion consumers in 25 countries with a gross domestic product of USD 6 trillion, is blessed within a circle with a diameter of no more than 3,000 km, with high-level communication capacity.

Qatar Airways reaches more than 150 global destinations, while Hamad Port, the largest multi-use seaport in the region, serves about 15 direct shipping lines. (QNA)