Doha: The Qatar Free Zones Authority (QFZ) has forged a landmark partnership agreement with Chinese investment leader Luyi Holding Group to develop a world-class industrial park in Qatar. The project aims to catalyze foreign investment, strengthen local industry, and advance Qatar's economic diversification goals in alignment with Qatar National Vision 2030. According to Qatar News Agency, the agreement was signed by HE CEO of QFZ Sheikh Mohammed bin Hamad bin Faisal Al-Thani and Chairman of Luyi Holding Group Yin Haijie. The signing took place on the sidelines of the prestigious China International Import Expo (CIIE) in Shanghai. This collaboration represents a significant step within China's Belt and Road Initiative, designed to enhance regional cooperation and economic development. HE Sheikh Mohammed bin Hamad bin Faisal Al-Thani remarked, "This agreement marks a crucial milestone in Qatar's strategic drive to diversify its economy, attract foreign investment, and strengthen the localization of key indus tries." The CEO of QFZ highlighted Qatar's competitive advantages, stating that its advanced infrastructure and progressive business regulations have created a compelling environment for global businesses. The partnership is expected to generate substantial opportunities for local companies across logistics, construction, and technology services sectors. Chairman of Luyi Holding Group Yin Haijie emphasized the park's alignment with the Belt and Road Initiative's goals. He noted that Qatar's strategic location, modern infrastructure, and favorable investment climate made it the clear choice for their Middle Eastern expansion. The project aims to strengthen Sino-Qatari economic relations and establish Qatar as a regional operational hub. The industrial park will be located in Qatar's Umm Alhoul Free Zone, with Phase 1 spanning 282,000 square meters. The facility will feature state-of-the-art industrial units designed for immediate manufacturing and operational use, attracting leading international companies a cross multiple sectors such as plastic and metal products, performance materials, and solar panels. This development aims to localize critical industries while serving local and regional market demands, advancing Qatar's economic diversification objectives. The Belt and Road Initiative seeks to strengthen connections across Asia, Africa, and Europe through the development of new industrial communities. For Qatar, this partnership represents a strategic opportunity to forge vital economic alliances and cement its position as an influential hub in global trade.