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QR26bn invested in industries and farming after blockade
(MENAFN- Gulf Times) The ongoing blockade on Qatar by Saudi Arabia, the UAE, Bahrain and Egypt has created great opportunities in further enhancing local industrialisation efforts with the establishment of many factories in various fields within the past year.
A number of businessmen and experts in the field told local Arabic daily Arrayah that the total investment in the industrial, agriculture and livestock production projects amounted to QR26bn during the just concluded first year of the blockade.
As many as 80 factories were established within the same period to supply the needs of the local market, in addition to supplying the seats and other equipment for the 2022 FIFA World Cup Qatar. Work is going on to issue 880 licences for the investors at the logistics areas.
The experts and businessmen stressed that a number of local industries has flourished after the blockade in fields including food, medicine, plastic, asphalt, metal works, paper, furniture, packaging, petrochemicals, and recycling, besides other industries.
They considered Hamad International Airport and Hamad Port as the key players in supplying the necessary materials for such industries with the opening of direct routes to Qatar, which also have helped in
reducing the costs.
Plastic industries in the country, in particular, cover around 60% of the local market needs, with steadily increasing production. The blockade unjustly imposed on the country since June 5 last year has served as an important incentive to increase local production with the ultimate target of reaching self-sufficiency in various areas, especially food production.
With the successes achieved so far by the local industries and gaining the trust of the consumers due to the reasonable price and high quality of the product, investors have upgraded their targets to export their various products outside the country. The future of local industries, according to the results achieved so far look very bright, experts have stressed.
A number of businessmen and experts in the field told local Arabic daily Arrayah that the total investment in the industrial, agriculture and livestock production projects amounted to QR26bn during the just concluded first year of the blockade.
As many as 80 factories were established within the same period to supply the needs of the local market, in addition to supplying the seats and other equipment for the 2022 FIFA World Cup Qatar. Work is going on to issue 880 licences for the investors at the logistics areas.
The experts and businessmen stressed that a number of local industries has flourished after the blockade in fields including food, medicine, plastic, asphalt, metal works, paper, furniture, packaging, petrochemicals, and recycling, besides other industries.
They considered Hamad International Airport and Hamad Port as the key players in supplying the necessary materials for such industries with the opening of direct routes to Qatar, which also have helped in
reducing the costs.
Plastic industries in the country, in particular, cover around 60% of the local market needs, with steadily increasing production. The blockade unjustly imposed on the country since June 5 last year has served as an important incentive to increase local production with the ultimate target of reaching self-sufficiency in various areas, especially food production.
With the successes achieved so far by the local industries and gaining the trust of the consumers due to the reasonable price and high quality of the product, investors have upgraded their targets to export their various products outside the country. The future of local industries, according to the results achieved so far look very bright, experts have stressed.
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