Qatar has witnessed about QR260bn investments in the manufacturing sector, indicating the Gulf country’s balanced and sustainable industrial development amidst the ongoing crisis in the region.

As many as 730 industrial facilities (are) registered with the ministry with investments close to QR260bn, HE the Minister of Energy and Industry Dr Mohamed bin Saleh al-Sada said on the sidelines of Made In Qatar 2017, which is organised by the Qatar Chamber.
Addressing an industrial forum, he said Qatar is putting a lot of effort in achieving "a balanced and sustainable" industrial development as well as enhancing the industrial sector's contribution to the country's gross domestic product (GDP).
As per the later report of the Ministry of Development Planning and Statistics, the country's manufacturing sector witnessed 1.2% expansion year-on-year during the second quarter of this year against Qatar’s real (inflation-adjusted) GDP growth of 0.6% year-on-year in the same period.
The minister highlighted the country’s efforts in providing incentives for industries such as fee exemption on equipment, raw materials, and parts in a bid to encourage local industry and small and medium enterprises (SMEs).
"The manufacturing sector become one of the most attractive investment opportunities in Qatar following the new legislation which facilitated the process and provided investors with many incentives," al-Sada said.
On the first day of Made In Qatar, which was inaugurated by His Highness the Emir Sheikh Tamim bin Hamad al-Thani, the energy minister had disclosed that the number of factories entering the production stage doubled during the past six months, hinting at the futile attempt by the siege countries to destabilise Qatar's economic front.
Ever since Qatar was subjected to the economic blockade, Doha has strengthened its economic strategy, especially in its industrial sector, in order to make it self-sufficient and self-reliant. In this regard, the country has seen the announcements regarding the special zones and the appurtenant benefits that would be passed on to the investors.
"The industrial strategy of Qatar aims to speed up the growth rate of SMEs, which have a greater ability to increase the contribution of the industrial sector to the GDP," Energy Ministry's Department of Industrial Zones Director Yousef al-Emadi had said earlier.
More than 10mn sq m of land has been allocated for the SMEs, of which 712 are classified industrial projects, according to a report by Qatar News Agency.
Qatar Development Bank (QDB) chief executive Abdulaziz al-Khalifa said its financing portfolio reached QR8bn, with manufacturing representing 60% of the total. Meanwhile, the portfolio of Al Dhameen -- which has been developed by QDB to encourage SMEs to get the right finance from the banks in order to grow their businesses -- reached QR1.5bn.
Highlighting that that QDB helped many Qatari products reach global markets through Qatar Export Development Agency (Tasdeer); he said there were 1,500 companies that managed to export products worth QR1.5bn.

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