Qatar Free Zones Authority (QFZ) has signed a strategic multilateral memorandum of understanding (MoU) with China’s Jiangsu Luyi Investment Co., Ltd. and Zhejiang Zhenshen Insulation Technology Co., Ltd. to support the establishment of an advanced insulation materials manufacturing facility at the Sino-Qatar Luyi Industrial Park in Umm Alhoul Free Zone.
Signed on the sidelines of QFZ’s China Roadshow, the MoU establishes a framework for long-term collaboration between the three parties. Under the agreement, Zhejiang Zhenshen will explore setting up the facility within the Sino-Qatar Luyi Industrial Park, which will be operated and managed by Jiangsu Luyi Investment Co., Ltd.
QFZ will support Zhejiang Zhenshen’s entry into Qatar’s free zones ecosystem and facilitate the establishment of its operations. The parties will also collaborate on market research, resource allocation, project planning, factory development and operational readiness to ensure successful project implementation.
As part of its regional expansion strategy, Zhejiang Zhenshen plans to establish an operating entity within Qatar’s free zones and undertake phased investments in the production of thermal insulation materials and related products. The project will mark the company’s first overseas presence, positioning Qatar as its international hub and supporting expansion into key markets across the Middle East and Africa.
The MoU builds on the strategic partnership between QFZ and Jiangsu Luyi Investment Co., Ltd. to develop the Sino-Qatar Luyi Industrial Park in Umm Alhoul Free Zone. Covering 282,000 square metres in its first phase, the industrial park serves as a platform to strengthen economic and industrial cooperation between Qatar and China.
Zhejiang Zhenshen’s planned investment is expected to further support Belt and Road collaboration and regional industrial development.
Sheikh Mohammed bin Hamad bin Faisal Al-Thani CEO – QFZ
“This MoU reflects our shared commitment to advancing high-value manufacturing, innovation and industrial growth. By combining Zhejiang Zhenshen Insulation Technology Co. Ltd’s technological expertise with the integrated ecosystem of QFZ and the Sino-Qatar Luyi Industrial Park, we are creating a platform that will facilitate investment, accelerate knowledge transfer, and strengthen industrial capabilities across key global markets. This partnership further reinforces Qatar’s position as a strategic hub connecting international businesses to regional and global opportunities. We look forward to supporting the company’s long-term growth through the world-class infrastructure, connectivity, and business environment offered within our free zones.”
Yin Haijie, Chairman of Jiangsu Luyi Investment Co. Ltd., said that, “This partnership marks another important milestone for the Sino-Qatar Luyi Industrial Park and reflects the growing interest among Chinese manufacturers in establishing a presence in Qatar and the wider Middle East. Through our collaboration with QFZ and Zhejiang Zhenshen Insulation Technology Co. Ltd, we have developed a platform that helps industrial companies transition from market exploration to operational deployment.”
Zhang Chunhua, Chairman of Zhejiang Zhenshen Insulation Technology, commented that, “Qatar offers a highly attractive environment for industrial investment, supported by advanced infrastructure, strong connectivity, and access to regional markets. This MoU with QFZ and Jiangsu Luyi Investment Co. Ltd., provides an important foundation for our Middle East expansion strategy, and we look forward to establishing our first overseas operational presence in Qatar’s Free Zone in Umm Alhoul, that supports our strategic growth ambitions in the region.”
