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QNA
Doha
As part of Qatar's efforts to achieve sustainable development and give a fillip to the 'Made in Qatar' initiative, investments worth QR260 billion have been made in the industrial sector.
This came in a speech by Minister of Energy and Industry HE Dr Mohammed bin Saleh al Sada at an industrial forum held on the sidelines of the 'Made in Qatar' exhibition in Doha on Friday.
"A total of 730 industrial facilities have been registered with the ministry. Qatar is putting a lot of efforts to realise the directives of the wise leadership in achieving a balanced and sustainable industrial development," Sada said.
The minister said the government is providing incentives such as exempting industrial facilities from fees on equipment, raw materials, and parts in a bid to encourage local industry and Small and Medium Enterprises (SME).
The government is also rolling out other initiatives focusing on raising the contribution of the manufacturing sector to the Gross Domestic Product (GDP).
He said the manufacturing sector has become one of the most attractive investment opportunities in Qatar following a new legislation which facilitates the process and provides investors with many incentives.
The minister said the Made in Qatar exhibition has developed greatly from its first edition in 2009. The size of the exhibition and the number of companies participating in it has significantly increased.
The forum discussed the incentives given to the manufacturing sector.
Qatar Development Bank CEO Abdulaziz Al Khalifa said the bank's financing portfolio reached QR8 billion, with manufacturing representing 60 percent of the total.
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