Industrial growth drives economic diversification in Qatar
Qatar’s industrial sector has been experiencing significant growth, with the number of registered and licensed firms reaching 1,449 during the first half of this year.
According to the Ministry of Commerce and Industry (MoCI), 966 firms were registered and 483 industrial licences were issued, amounting to a total investment of QAR233.14 billion (c. USD64 billion) and production valued at QAR2.56 trillion.
The top industrial sectors in Qatar by number of firms include fabricated metal products (216), non-metallic mineral products (217), rubber and plastics products (198), food products (169) and chemicals (124). In terms of investment, the leading sectors are coal and refined petroleum products, chemicals, basic metals, transport equipment and non-metallic mineral products.
Last year, MoCI reported 932 registered firms and 489 licences issued, total investments of QAR232.5 billion in investments and production valued at QAR2.56 trillion.
Qatar is focused on supporting small and medium enterprises (SMEs) and enhancing the industrial sector’s contribution to the economy. MoCI’s Industrial Services Platform offers electronic services for industrial projects, including issuing and renewing licences, modifying production data, and requesting incentives and exemptions.
To stimulate economic growth and support the Qatar National Vision 2030, the Ministry of Municipality recently reduced rental rates for industrial zone lands, lowering costs from QAR100 to QAR10 per square meter annually.
“Sovereign-PPG can assist clients with the set-up of companies in Qatar and will also provide expert guidance on navigating the regulatory requirements, securing necessary permits and leveraging local opportunities to ensure a successful business establishment,” said Martin Zubeldia, Business Development Manager at Sovereign-PPG.
