Government incentives help industries thrive

Government incentives have helped increase the number of Qatar’s industrial institutions to 728 in July 2017 with investments amounting to QR262bn, a Qatar Chamber senior official said.
Qatar Chamber chairman Sheikh Khalifa bin Jassim al-Thani said following the unjust siege on Qatar, government entities and the private sector pushed for initiatives to expand industries and establish new industrial projects to boost the presence of local products and achieve self-sufficiency.
He said investors are benefitting from government incentives like reduced rents in logistics areas, finance assistance, and procurement policies directing government bodies and ministries to buy 100% local products, as well as facilities that would stimulate investments in industry.
“These incentives increased the number of industrial institutions from 707 in 2016 to 728 in July 2017 with investments amounting to QR262bn,” Sheikh Khalifa said yesterday during a press conference announcing the staging of ‘Made in Qatar’ on December 14 to 17 at the Doha Exhibition and Convention Centre (DECC).
He said more than 300 Qatari companies representing all sectors in Qatar will be showcasing their products and expertise before local and international investors during ‘Made in Qatar’.
“The event would also include start-ups, small and medium-sized enterprises (SMEs), and even home-based businesses. We are expecting that major deals will be secured between the participants and potential investors during the exhibition, which is unique compared to previous editions because it is being held amid the unjust siege against Qatar,” Sheikh Khalifa told Gulf Times.
The fifth installment of ‘Made in Qatar’ aims to promote the Qatari industry and its products to the local and global market. It also aims to reduce importing and to support the state’s efforts to develop industry and encouraging business owners and investor to invest in industrial enterprises, Sheikh Khalifa stressed.
He also pointed out that the exhibition provides “a great opportunity” for local companies to exchange expertise with their international counterparts. It also aims to review investment opportunities in the industrial sector and obstacles facing its development.
“Made in Qatar aims to open external markets for Qatari products, giving the private sector a greater role in the mega projects being implemented in the country and boosting SMEs,” the Qatar Chamber chairman said.
He noted that Qatar Chamber will organise meetings and seminars on the sidelines of the exhibition where members of the business community and officials are expected to take part and discuss the challenges and obstacles facing the industrial sector.
Sheikh Khalifa also told Gulf Times that Qatar Chamber was able to discuss investment opportunities with foreign investors during His Highness the Emir Sheikh Tamim bin Hamad al-Thani’s recent state visit to Malaysia, Singapore, and Indonesia.
“Some of the investors that we have spoken to during HH the Emir’s state visit to the three Southeast Asian countries are expected to visit Qatar soon, some as early as by year end,” he continued.