Qatar`s MoCI registers 40 new factories so far this year
17/12/23
Qatar has witnessed robust growth in its manufacturing sector after registering 40 new factories from January to September this year.
According to data recently released by the Ministry of Commerce and Industry (MoCI) there are currently 957 registered operating factories in the State and the amount of investment reached QAR 1.39 billion (USD 380 million) in 2023. Moreover, there were 487 permits issued for industrial projects. These figures show that progress has clearly been made within the sector with the help of government investment and support.
Qatar’s manufacturing sector is a major driving force in the country’s economic diversification efforts. Therefore it is an integral part of Qatar National Vision 2030, which aims to develop an economy less dependent on hydrocarbons. As a result, the State is emerging as a global manufacturing destination when taking into consideration its highly skilled talent pool, unparalleled connectivity and state of the art free zones.
Additional MoCI data highlighted the key industries in Qatar. These include construction materials and chemicals, rubber and plastic products, electrical equipment, beverages, textiles and garments, wood products, furniture and paper products.
In further news, the ‘Made in Qatar’ exhibition witnessed the participation of 450 local companies and factories across six industrial sectors. The expo was organised by Qatar Chamber in cooperation with MoCI and provided a platform to allow companies to showcase their goods and service offerings. The hugely successful turn out reflects the keen interest of local companies to promote their products to both local and international markets. Promising MoCI data revealed the number of local products has reached 1,639 in 2023, a number which is forecasted to increase in future years.
‘Made in Qatar’ was launched 9 years ago with several goals. Most importantly was the encouragement of Qatari industry and the promotion of the national product with the aim of reducing dependence on imports. Further reasons included the fostering of cooperation between Qatari employers and local companies as well as streamlining partnerships and alliances to enhance the state’s industrial sector.
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