The Ministry of Commerce and Industry (MoCI) and QatarEnergy signed the Terms of Reference (ToR) Sunday for the establishment and implementation of a governance mechanism for the allocation of hydrocarbon-derived resources to industrial investment opportunities and to develop a new medium industries area in Mesaieed Industrial City (MIC).
The agreement was signed by Saleh Majid al-Khulaifi, Assistant Undersecretary for Industrial Affairs and Business Development at MoCI, and Ahmad Saeed al-Amoodi, executive vice president for Surface Development and Sustainability at QatarEnergy.
The Minister of Commerce and Industry His Excellency Sheikh Faisal bin Thani bin Faisal al-Thani and the Minister of State for Energy Affairs His Excellency Saad Sherida al-Kaabi, who is also president and CEO of QatarEnergy, witnessed the signing ceremony.
The ToR stipulates the evaluation and allocation of hydrocarbon-derived resources, natural gas, power, and related natural resources to downstream derivative industrial investment opportunities.
It will also ensure the optimal use of national resources and enhance the added value of the industrial sector by establishing a joint governance framework to evaluate and allocate resources required by qualified industrial investment opportunities.
Sheikh Faisal said, “This agreement represents a strategic step towards enhancing the competitiveness of the industrial sector in Qatar by establishing a joint governance framework that ensures the optimal use of national resources and directs them towards value-added industrial investment opportunities, thus helping attract qualitative investments and supporting sustainable industrial growth.
“Through this agreement, the Ministry of Commerce and Industry will lead efforts to attract industrial investments, connect with investors, and coordinate the industrial ecosystem, while QatarEnergy will provide technical and commercial expertise related to resource allocation and utilisation.”
He added: “This comes as part of the ministry’s efforts to strengthening the industrial investment environment, supporting economic diversity, and achieving sustainable development in Qatar as stipulated by Qatar National Vision 2030 and the Third National Development Strategy.”
Al-Kaabi said: “We are pleased to sign these Terms of Reference, which will support the Ministry of Commerce and Industry’s effort to develop an expansion in Mesaieed Industrial City to accommodate more medium industries.
“In this respect, QatarEnergy has pledged to supply this expansion with natural gas quantities equal to those dedicated to the small and medium industries in Doha’s Industrial Area.”
Under the terms of the agreement, QatarEnergy and MoCI will establish a working team that will oversee the allocation of hydrocarbon-derived resources for qualifying industrial investment opportunities.
The team will seek assistance from other relevant stakeholders as needed, including the Ministry of Finance, Qatar General Electricity and Water Corporation (KAHRAMAA), Invest Qatar, Qatar Free Zones Authority or other Special Economic Zones representatives as applicable, the Ministry of Environment and Climate Change, Qatar Development Bank (QDB), and any other stakeholder as required.
MoCI will lead on investor engagement, opportunity sourcing, and ecosystem coordination, while QatarEnergy shall provide technical and commercial evaluation expertise related to resource allocation and utilisation.
