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Satyendra Pathak
Doha
Al Faisal Holding is working to set up 16 new factories in Qatar to meet the demand for various consumer products in the country, the group's chairman has said.
"We expect most of the factories to be operational in the near future. We are trying to make things smartly and wisely. Our products will be much better and cheaper than the imported ones," Al Faisal Holding Chairman Sheikh Faisal bin Qassim al Thani told Qatar Tribune on the sidelines of an event in Doha.
He said these projects are aimed at achieving self-sufficiency, especially in the food and consumer goods sector.
The construction work on some of these factories has already started and work on other projects will begin soon, he added.
Besides the 20 well-established and successful companies that operate under the umbrella of Al Faisal Holding, the upcoming projects would further diversify the group's portfolio.
Commenting on the vital role played by the private sector in mitigating the impact of the ongoing economic blockade, Sheikh Faisal said,"The role of the private sector was visible within five days of the blockade."
With the private sector swinging into action to source essential items from alternative sources, he said, things returned to normal within five days.
Qatar has already made up for most of the imported goods that used to be sourced from the blockading countries, Sheikh Faisal said, adding that the upcoming projects would further ensure there is no shortage of consumer goods in the country.
Hailing the international business community for standing by Qatar during the crisis, he said,"We started receiving immediate support from the international business communities. Several businessmen from abroad contacted us with whatever they had to offer. It was quite heartening to see such a massive support for Qatar."
A lot of credit for this also goes to Qatar's business community as they always maintain cordial relationships with their counterparts across the world, he added.
"Their support was vital in overcoming the blockade," he said.
Minister of State HE Hamad bin Abdulaziz al Kuwari also lauded the role played by the country's private sector and the international support in overcoming the blockade.
He said,"Each and every Qatari national has stood by the country in the face of the blockade. All of them have contributed to making it an opportunity to excel in whatever profession they are. The collective effort has played a significant role in defying the blockade."
