Almost 40 New Factories Register From Jan-Sep
Date
12/10/2023 4:42:55 AM
(MENAFN- The Peninsula) Deepak John |
The Peninsula
Doha, Qatar: Qatar has witnessed robust growth in its manufacturing sector as 40 new factories were registered from January to September in this year.
The official data regarding industrial sector statistics 2023 released recently by the Ministry of Commerce and industry on its X platform reveal that the registered operating factories stood at 957; the number of local products were 1,639; permits issued for industrial projects totaled 487 and the total investments in factories reached QR1 in 2023.
Qatar's manufacturing sector is a major driving force in the country's economic diversification backed by Qatar National Vision 2030 which aims to develop an economy that is less dependent on hydrocarbons. 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.
Another post by the Ministry on the industry sector highlighted the key industries in Qatar which include construction materials and chemicals, rubber and plastic products, electrical equipment, beverages, textiles and garments, wood products, furniture and paper products.
The ninth edition of the 'Made in Qatar' exhibition held recently which was organised by Qatar Chamber in cooperation with the Ministry of Commerce and Industry saw participation of several companies and factories.
The participation of local companies in the expo reached 450 companies and factories interested in showcasing their products and services to the business community and visitors. This reflects the keen interest of local companies to promote their products in the local market with the aim to achieve the desired self-sufficiency and reduce dependence on imports.
The features of local product are that they are high quality, provide adequate and competitive prices and offers diverse range of products. The benefits of buying local products include maintaining economic sovereignty through reduced import dependence, supporting local economy, providing job opportunities, and protecting the environment by reducing carbon emissions caused by long shipping processes.
There are several local product campaign objectives such as supporting and marketing local products locally and supporting investors to reach consumers easily. They also open the market for merchants and investors to launch new products and expand the scope of production.
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