Al Sada: Investment in Industrial Enterprises in Qatar Reaches QR 248 Billion /1/

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. (MORE)

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