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Industrial sector sees 6% growth despite COVID-19: Al Kuwari

Industrial sector sees 6% growth despite COVID-19: Al Kuwari

Tribune News Network
Doha
Minister of Commerce and Industry HE Ali bin Ahmed Al Kuwari has said Qatar’s industrial sector is seeing significant growth coinciding with the progress made in developing an area for small and medium enterprises.
“The industrial sector grew 6 percent in 2020. The total number of factories in Qatar reached 927 with a total investment in the sector worth QR263 billion, a growth of 0.4 percent compared to 2019,” Al Kuwari said while giving a lecture at Joaan Bin Jassim Joint Command and Staff College on the role of the national economy in supporting defense efforts.
Chief of Staff of the armed forces HE Lieutenant-General (Pilot) Ghanem bin Shaheen Al Ghanem, along with a number of officers and ranking officials, attended the lecture.
Al Kuwari stressed that the directives of the wise leadership defined the main pillars and the priorities regarding the future of the national economy. He said Qatar continued to implement its economic policy despite geopolitical changes.
The lecture covered a number of topics, including the challenges that faced the state over the past few years such as the COVID-19 pandemic, and the efforts made to achieve a comprehensive renaissance.
The minister highlighted the state’s economic diversification policy. He said other policies included enhancing the participation of the private sector, growing local industries and exports, attracting investment in the non-hydrocarbon field, which contributed to 62 percent of real GDP during the second quarter of 2020.
In terms of the measures adopted by Qatar to face the impact of the coronavirus pandemic, he said Qatar has succeeded in limiting the negative impacts of the pandemic at the social and the economic levels.
He said state worked on enhancing the flow of goods and supply by enhancing cooperation with countries and trade partners.
Other efforts included providing the raw products for various industries, in addition to adopting a series of measures to stimulate the economy, protect the private sector, and enhance the ability of companies to adapt with the current economic conditions, while enhancing the companies’ ability to pay wages for workers and employees.
He shed light on the laws and regulations adopted by the state to attract investment, including a law on public-private partnerships. Al Kuwari stressed that the law will enhance investment in the state and provide a suitable legislative framework for good governance and good risk management.
He said the law offers investors the opportunity to finance, develop, and operate projects in a wide variety of high-priority sectors, including food security, sports, tourism, health, education, and logistical services.
He noted in that regard the signing of a contract to establish eight public schools, and establish tourist resorts with a total area that exceeded 450,000 square metres.
In the field of developing business environment, he said the ministry is committed to continuing its digital transformation efforts, to ensure all transactions can be swiftly concluded.
The number of electronic services that were conducted through one platform grew 56 percent in 2020, while digital transformation grew 22 percent compared to 2019 to reach a 62 percent.
Speaking on the initiatives made to raise Qatar’s strategic reserves, he discussed law no 24 of 2019 regulating the strategic reserves of food and consumer products.
The law aims to establish a system to regulate to process of production, import, supply, and storage of these products.

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