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

Doha, June 22 (QNA) – 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. (MORE)

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