(MENAFN- The Peninsula)
Deepak John
|
The Peninsula
Doha, Qatar: The '1000 Opportunities' initiative has currently received over 1,300 applications. This service allows local investors to access investment opportunities offered by major foreign and local companies operating in Qatar and offers small and medium-sized enterprises (SMEs) the opportunity to develop their products and services in the Qatari market.
The number of applications submitted to benefit from the initiative has reached 1,328 showing an addition of 124 applicants and representing a surge of 11 percent when compared with applications received in July of this year, according to the official data from the Ministry of Commerce and Industry's (MoCI) website.
The initiative launched by the MoCI in 2022 registered 346 applicants in August 2022 and it increased to 713 by December of the same year. It reached 1,044 applications by March 2024 and stood at 1,204 in July of this year.
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The '1000 Opportunities' initiative is an electronic platform that allows local investors to view the opportunities offered by major foreign companies in various sectors which include food distribution, communications, general contracting, public services and others.
The initiative opens new horizons for the private sector and enhances partnership between the public and private sector in Qatar. Some of the companies who are part of the initiative include Talabat, CCC Contracting, Lulu Hypermarket, Alshaya Group, General Electric, Power International Holding, and Ooredoo.
It aims to foster collaborations between the public and private sectors, creating a dynamic platform for local investors to engage with major national and international companies operating in the country.
MoCI through its various initiatives has made it easier for investors to invest in the country.
Meanwhile, the Business Map portal of the Ministry revealed that the total number of commercial establishments currently reached 208,251 whereas in July of the same year 183,944 organisations were registered showing a rise of 13 percent.
Out of total, 14,107 establishments were registered in 2023 while 7,121 in the last six months and 3,426 during the last three months.
The portal showed the top four common activities in the organisations which are trading in food, building materials trade, construction and general contracting, and general cleaning of buildings.
It also offers statistics on the number of commercial licenses registered in each municipality, new and signed-off commercial licenses, and the latest commercial establishments registered in Qatar.
Revealing the municipality breakdown and the number of licenses per municipality the portal recorded that Al Dhaayen municipality totaled 7,236, Al Doha (97,389), Al Khor and Al Thakira (4,050), Al Rayyan (74,510), Al Shamal (1,792), Al Sheehaniya (1,373), Al Wakrah (11,393), and Umm Slal (8,934).
Available on the Ministry's website the portal provides a comprehensive database of investment incentives across Qatar's various regions and enables users to access data on commercial establishments throughout the country.
The initiative falls in line with the Ministry's commitment to creating more transparent and efficient services.
The Business Map portal provides a comprehensive database for users, allowing them to view the investment advantages of Qatar's various regions through a search service for commercial establishments per region, and for the various available commercial activities.
The Third National Development Strategy (NDS3) defines transformative initiatives and reforms designed to achieve the goals of Qatar National Vision 2030. It seeks through this strategy to sustainably develop the country's economy to remain competitive amidst rapidly changing global landscape.
This entails diversifying through priority economic sectors and creating a leading investor and business-friendly environment, making Qatar a favoured destination for foreign investment and skilled talent.
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