(MENAFN- The Peninsula) Irfan Bukhari |
The Peninsula
Doha: As Qatar powers through with its diversification drive, the industrial sector continues to be a major tool for economic growth. Under Qatar National Vision 2030 (QNV), Qatar hopes to develop an economy with diminishing dependence on hydrocarbons, where investment is moving towards a knowledge-based economy and a thriving private sector.
According to figures recently released by the Ministry of Commerce and Industry, the manufacturing sector is showing a robust growth as 60 new factories were established in the country in 2021.
The number of new local products registered in 2021 was 845, while 3,349 new workers were inducted in factories and factory adherence to industrial requirements remained at 72%.
As per the Ministry's data on its official Twitter account, almost 4-day average time was required for industrial development services. The contribution of manufacturing industries to the GDP in 2021 was QR57bn. The total exports of local origin in the last year were QR307bn.
According to another post of the Ministry on industrial sector indicators of the first quarter of this year, 23 new factories were established in the country in January to March 2022.
According to figures recently released by the Ministry of Commerce and Industry, the number of new local products registered in first quarter of 2022 was 920. In the same period, 1,550 new workers were inducted in factories while factory adherence to industrial requirements remained at 64%.
As per the data of the Ministry on its official Twitter account, almost 3-day average time was required for industrial development services. The total exports of local origin in the first quarter of this year remained at QR101bn.
Qatar National Manufacturing Strategy 2018-2022 aims to accelerate growth in the sector to develop and diversify state's economy.
According to Invest.qa, Qatar's manufacturing sector is a major driving force in Qatar's economic diversification, backed by Qatar National Vision 2030 (QNV 2030), which aims to develop an economy that is less dependent on hydrocarbons. With that in mind, Qatar National Manufacturing Strategy focuses on establishing advanced manufacturing value chains with the aim of transforming Qatar into a major hub for production. With Qatar's high-calibre talent pool, unparalleled market access and connectivity, and the state-of-the-art free zones, Qatar is emerging as a global manufacturing destination.
According to information released by the Ministry of Commerce and industry in May 2021, the recycling industry in Qatar produces 215 products from 135 factories.
Paper products and printing industry contributes 78 products from 62 factories.
Qatar's building materials and chemical products industry has 281 factories with 392 products. The medical products sector makes 22 products from five factories.
The metal industry with 179 factories makes 291 products.
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