HE the Minister of Energy and Industry Dr. Mohammad bin Saleh Al Sada said Sunday that the Ministry had provided a distinct package of industrial investment opportunities and incentives in various fields, which led to a high volume of industrial investment where the number of industrial establishments in the State reached (670) facilities by the end of last month, with a total investment of about QR 248 billion, of which about 52 percent is foreign investment.
Addressing the Industrial Investment Seminar 2014 to promote industrial investment opportunities in small and medium-sized industries in the State of Qatar, HE Dr. Al Sada said that the Seminar comes as part of the Ministry’s continued efforts aiming at developing small and medium-sized industries, which constitute one of the basic rules of the State’s development plans for the future.
He underlined that the State of Qatar, under the leadership and directives of HH the Emir Sheikh Tamim bin Hamad Al-Thani, worked to install a path of sustainable development as one of the foundations of advancement to the ranks of developed countries.
Qatar National Vision 2030 attaches great importance to the diversification of the economy in order to transform Qatar into a regional center for knowledge, industrial activities and high-value services, HE Al Sada added.
HE Al Sada mentioned three stages identified by the Vision to achieve that goal: the expansion of competitive industries derived from hydrocarbon industries, the development of economic activities specially for the State of Qatar and building technical and human capacities to the requirements of such activities; and building a knowledge-based economy characterized by heavily relying on research, development and innovation, and excellence in entrepreneurship.
The Ministry of Energy and Industry takes the National Vision as the basic reference in its efforts for the development of industrial investment in the state, and takes the National Development Strategy an approach in the preparation of its plans and development strategies. The Ministry works to develop an integrated set of elements to attract domestic, regional and foreign investment to establish and support the State’s open economy approach, HE Al Sada said.
HE the Minister of Energy and Economy Dr. Mohammad bin Saleh Al Sada underlined that the development of the industrial sector is a shared responsibility between the public and private sectors. He stressed the importance of the seminar to discuss and explore opportunities for industrial investment in the State, and work on creating a suitable environment for the growth of industries in new areas and developing its competitiveness.
HE Al Sada emphasized the importance of “new areas” to be the address for the next phase of the industrial development in the State, especially with the increasing need to get out of the typical traditional areas and the trend towards industries with new technologies and high added value.
The Ministry of Energy and Industry has prepared a list of thirty small and medium projects in important areas, such as pharmaceutical, chemical, metallurgical, and eco-friendly and high-tech industries, he said.
These projects constitute a promising investment opportunities for Qatari businessmen looking for a new industrial areas capable to take advantage of the comparative advantages of the State, such as the availability of raw materials, export opportunities, and encouraging indicators of profitability, he added.
On the sidelines of the Seminar, HE Al Sada said that the Ministry of Energy and Industry has been presenting projects with high profitability and in line with the Qatar National Vision 2030, especially in the field of industrial knowledge, adding that the projects that were presented today are characterized by high profitability and advanced technology.
He noted that the Seminar is divided into three sections to discuss those projects in all respects, pointing out that there is a great willingness from businessmen to enter into those projects, which are scheduled to go into effect.
Asked about the facilities offered by the state to encourage businessmen engage in such projects, HE Al Sada explained that the State will exempt all inputs and equipment in those industrial projects from taxes, will not impose fees on the export in such projects, and will facilitate the financing of those types of projects through the Qatar Development Bank.
For his part, Director of the Industrial Development Department at the Ministry of Energy and Industry Said Al-Kuwari said that seminar offered about 30 investment opportunity ranging between small and medium, explaining that the ministry is seeking to apply the Qatar Vision 2030, which aims to support the industrial sector and for that purpose Qatar small and medium enterprises organ have been established.
He added that there is a plan for the establishment of large industrial areas to accommodate all current and future industrial projects, in addition to the existing small and medium industries area which is affiliated to the Ministry of Energy and Industry.
The projects put forward are a sort of ideas presented to the private sector to study them thoroughly and transform them into real investment opportunities, Al-Kuwari said adding that with the private sector’s endeavours to implement those ideas, the state is working to provide the appropriate lands for such projects.
Meanwhile, Secretary General of the Gulf Organization for Industrial Consulting (GOIC) Abdul Aziz bin Hamad al-Aqeel expressed pleasure over the Ministry of Energy and Industry’s offering of excellent industrial opportunities, describing them as powerful and can add to the industry in Qatar by inviting the business community of the Gulf to participate in such seminars, especially that they have a true desire to enter the Qatari market which is rich with opportunities especially industrial ones.
Source : Qatar News Agency
Source : Qatar News Agency
