Qatar's industrial sector has great potential to lead growth rates: Envoy

(MENAFN- The Peninsula) QNA

Vienna:H E Sheikh Ali bin Jassim Al Thani, Qatar's ambassador to the Republic of Austria and Qatar's permanent representative to the United Nations Industrial Development Organization (UNIDO), said that the industrial sector in Qatar has great potential to lead growth rates over the next few years in light of the plans and strategies that have been developed and correspond to the new changes that have occurred in the global economic arena.

In a speech to the 17th session of the general conference of the UNIDO, the Ambassador said the State of Qatar had taken firm and strong steps in all areas of industry, whereas it has diversified the industry and developed supporting industries such as iron and steel, cement and food industries.

The Ambassador added that Qatar has also established an advanced infrastructure capable of servicing national industries and responding to their future needs and challenges, which helped to promote the industrial sector and increase its competitiveness in addition to the holding of mega-projects being developed in the areas of energy and desalination. He explained that economic development is a key element in the Qatar National Vision 2030, which is the engine of development by providing many opportunities and ensuring a better life for Qataris.

The Ambassador noted that the development of Qatar's economy means balancing the oil-based economy with a more knowledge-based economy in order to diversify the economy and ensure a stable and sustainable business environment.

The Ambassador pointed out that the State of Qatar pursues an open market economy policy, enacting appropriate legislation in order to create an environment conducive to legitimate competition away from monopolistic practices, and protecting industrial installations from dumping and harmful practices.

Sheikh Ali bin Jassim Al Thani concluded that the economic and social progress of modern societies is no longer subject to automatic development or being left to changing circumstances, but it's based on a long-term process with pre-defined goals, based on clear vision and sound planning, which has led Qatar to develop its comprehensive national vision 2030 in the interest of its present and future generations.


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