Qatar aims to promote its industries and familiarise the global community with investment opportunities across the country, particularly in industries, said HE the Minister of Commerce and Industry Ali bin Ahmed al-Kuwari.
He was speaking after inaugurating Qatar’s pavilion at the Hannover Fair, the world’s largest trade exhibition in the industrial sector.
The fair is taking place at the Convention Center in Hannover, Germany, from April 1 to 5.
Qatar is participating in the fair through a 1,000-square-metre pavilion that brings together representatives of Qatar Chamber, Manateq, Qatar Free Zones Authority, the Supreme Committee for Delivery & Legacy, Qatar Railways Company (Qatar Rail), Qatar Development Bank and Qatar Science and Technology Park.
Participating private companies also include Qatar Industrial Manufacturing Company (QIMC), Ebn Sina Medical, Qatar Aluminium (Qatalum), Doha Cables, Bin Aman Plastic Industries and Qatar Steel.
During its participation in the fair, the Qatari delegation will shed light on the opportunities that Qatar’s economy offers to investors as well as the incentives and legislation that have been adopted to support the private sector and encourage public-private partnership projects.
Qatar’s pavilion also highlights the country’s advanced infrastructure, economic zones, logistic and warehousing parks, and ongoing projects in preparation for the 2022 FIFA World Cup.
Al-Kuwari underscored the importance of Qatar’s participation in the exhibition, noting that it falls in line with the ongoing efforts to promote the state’s industrial capabilities.
The fair provides an important opportunity for Qatari businessmen, investors and executives from the largest national companies to learn about the latest innovations and industrial technologies, and promote and advertise their products in new markets.
Qatar’s industrial sector grew significantly in recent years with the establishment of numerous companies and factories across vital sectors, particularly in food industries.
The national products are “competing and substituting” for numerous imported goods, the minister said, noting that the number of local factories has grown to 809.
Some 116 entities “kicked off production” following the imposition of the unjust siege while 690 industrial licences were issued for the establishment of industrial projects. As many as 60 additional establishments will kick off production this year.
He highlighted the industrial projects currently being undertaken in the small and medium scale industrial sector, noting that Qatar attracted 362 projects while 739 land plots were allocated for additional projects.
“These indicators demonstrate the success of Qatar’s plans to support and enhance the contribution of national companies to the diversification of the national economy in line with the Qatar National Vision 2030,” al-Kuwari said.
During the fair, the MoCI familiarised participants with the laws and legislation adopted by Qatar to stimulate domestic and foreign investments as well as the incentives offered to foreign investors.