(MENAFN- The Peninsula) The Peninsula
Minister of Energy and Industry H E Dr Mohammed bin Saleh Al Sada said that a total of 730 industrial facilities were registered at the ministry with a combined investments close to QR260bn.
Delivering a speech at an industrial forum held on the sidelines of Made in Qatar Exhibition, the Minister said that Qatar is putting a lot of effort to realize the directives of the wise leadership in achieving a balanced and sustainable industrial development.
The state's efforts in providing incentives for industries, led with 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 state have other initiative also focusing on raising the contribution of manufacturing to GDP, he said.
The Minister of Energy and Industry said that the Made in Qatar Exhibition has developed greatly from its first edition in 2009.
The size of the exhibition itself has magnified, as did the number of companies participating as well as the variety among them. He noted that the manufacturing sector has become one of the most attractive investment opportunities in Qatar following the new legislation which facilitated the process and provided investors with many incentives.
The first session of the forum discussed the incentives given to the manufacturing sector. CEO of Qatar Development Bank Abdulaziz Al Khalifa said that the bank's financing portfolio reached QR8bn, with manufacturing representing 60 percent of the total. Al Dameen's portfolio meanwhile reached QR1.5bn.
On reaching local and global markets, Al Khalifa said that the bank helped many Qatari products reach global markets through Qatar Export Development Agency (Tasdeer). He noted that there were 1500 companies that managed to export products worth QR1.5bn.
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