Tribune News Network
Qatar’s industrial investments worth QR260 billion attest to the success of its efforts to achieve a balanced and sustainable industrial development, Minister of Energy and Industry HE Dr Mohammed bin Saleh al Sada said in Doha on Friday.
These investments stem from the 730 industrial facilities registered with the ministry, he said, while addressing an industrial forum held on the sideline of the Made in Qatar Exhibition that began in the city on Thursday.
The minister said the country’s generous incentive schemes, such as exemptions for industrial facilities from fees on equipment and raw materials, have gone a long way in encouraging the local industry and small and medium enterprises (SME). “Qatar also has other initiatives to raise the manufacturing sector’s contribution to the GDP,” he added.
The Made in Qatar Exhibition, he said, has developed greatly from its first edition in 2009. “The size of the exhibition itself has magnified, as did the number and diversity of the companies participating in it.”
The manufacturing sector has become one of the most attractive investment opportunities in Qatar, following the promulgation of a new legislation which facilitated the process and provided investors with several incentives, Dr Sada said.
The first session of the forum discussed the incentives given to the manufacturing sector. Qatar Development CEO Bank Abdulaziz al Khalifa said the bank's financing portfolio reached QR8 billion, with manufacturing representing 60 percent of the total.
Khalifa said the bank helped several Qatari products reach global markets through the Qatar Export Development Agency (Tasdeer). There are 1,500 companies that managed to export products worth QR1.5 billion, he noted.