Satyendra Pathak
Doha
In a significant move toward realising Qatar’s aim for sustainable economic growth and diversification, Prime Minister and Minister of Foreign Affairs HE Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani on Thursday inaugurated the Ministry of Commerce and Industry (MoCI) Strategy and the Qatar National Manufacturing Strategy 2024–2030.
Themed "Achieving Sustainable Economic Growth,” the event attracted esteemed ministers, senior officials, and prominent figures from both public and private sectors.
The launch of the two comprehensive strategies marks a vital step in advancing the objectives of Qatar National Vision 2030, emphasising sustainable development, the diversification of economic sectors, and enhancing the private sector’s contribution to the nation’s GDP.
The strategies support Qatar National Vision 2030 and aim to foster sustainable growth, diversify priority sectors, and increase the private sector’s contribution to GDP with a focus on enhancing manufacturing and strengthening Qatar’s regional and global competitiveness.
Speaking on the occasion, Minister of Commerce and Industry HE Sheikh Faisal bin Thani bin Faisal Al Thani underscored that the ministry’s initiatives aim to achieve a compound annual growth rate (CAGR) of 3.4 percent for the non-hydrocarbon GDP and attract $100 billion in foreign direct investments (FDI) by 2030.
The Qatar National Manufacturing Strategy 2024–2030 sets ambitious goals to transform the manufacturing sector into a development, innovation, and sustainability pillar.
This comprehensive roadmap seeks to increase the sector’s gross output to QR70.5 billion, boost non-hydrocarbon exports to QR49 billion, and attract annual industrial investments worth QR2.75 billion by 2030.page 6