Sunday, 01 August 2021 02:36 GMT

MoCI strategy identifies 7 sectors for diversification


(MENAFN - The Peninsula) Doha: The Ministry of Commerce and Industry (MoCI) has said that its strategy has identified seven sectors which would be developed further to meet the need of local market and play crucial role in diversifying the economy. 

''The Ministry encourages establishing industries to manufacture certain products such as plastic, aluminium, food, beverage and pharmaceutical products,” said Director of Industrial Development Department at MoCI, Yousuf Ahmad Al Emadi, while speaking in a Qatar TV programme.

The programme hosted MoCI official and a number of Qatari industrialists and investors.  He said that there are seven basic sectors in the strategy. The aluminium sector is an example where Qatar has one of the largest aluminium smelters which is producing ingots.

''The prices of ingots are very competitive and lower compared to those in other countries. The investors can utilise the available ingots to make aluminium products like rims of car tires and electrical cables,” said Al Emadi.

He said that Qatar also has aluminium and polymers (plastics) Polyethylene which could be used to make other products like those products which are needed in water sector. 

''We asked the investors to submit their applications for opening the industries through single window system,” said Al Emadi.

He said that all required documents should be attached to the application. ''Separate form is available on the system for applying for loans from Qatar Development Bank,” said Al Emadi. He said that the opening an industry is a time-taking process which requires many things from investors like feasibility studies, market survey to get an idea of competition among others.

''We in the Ministry of Commerce and Industry assess the application whether it is among those projects which the country wants to promote to avoid unnecessary competition,” said Al Emadi.

Speaking about the promotion of local products, he said that the Governmental Procurement Law gives priority 10 percent to local products on imported one.

''Apart from that major commercial outlets and hypermarkets are not taking service charges for local products which is a privilege,” said Al Emadi.

However, he said that Qatari market is open for everyone. If there is any illegal practice that affects anyone, the Ministry takes action following the complaints.

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