Qatar National Manufacturing Strategy 2024-2030 Aims To Enhance Resilient Industrial Future

(MENAFN- The Peninsula) Deepak John | The Peninsula

DOHA: The Qatar National manufacturing Strategy 2024-2030 aims to enhance a resilient and diversified industrial future characterised by increased value, innovation, sustainable growth, and strong private sector participation.

Ministry of Commerce and industry Strategy and Qatar National Manufacturing Strategy 2024-2030 was launched yesterday under the theme 'Achieving sustainable economic growth'. Addressing the event, Minister of Commerce and Industry (MoCI) H E sheikh Faisal bin Thani bin Faisal Al Thani stressed the launch of the Ministry's strategy comes within the framework of achieving the objectives of the Third National Development Strategy, within Qatar National Vision 2030.

The strategy attaches great importance to supporting the role of small and medium-sized enterprises as key drivers of economic diversification, enhancing strategic partnerships and cooperation to expand Qatar's global trade relations, and driving digital transformation and smart technologies in industries, in addition to ensuring the integration of sustainable development practices in various sectors.

Qatar National Manufacturing Strategy 2024-2030 includes 15 key initiatives encompassing 60 projects aims to support strategic industries, including aluminium, plastics, advanced food and beverage industries, speciality medical products and oil and gas support industries.

During the event a video presenting key indicators of the strategy was shown which noted the manufacturing sector is a cornerstone of national economic diversification. Non-hydrocarbon exports reached QR30bn in 2016 and grew to QR39bn by 2022 with aspirations to exceed QR49bn by the end of 2030, the presentation showed.

The strategy focuses on leveraging Qatar's competitive advantages by focusing on a set of economic clusters including the aluminium and plastic sectors. It also focuses on integrating the principles and standards of the Fourth Industrial Revolution which ensures increasing production efficiency and operational flexibility with a system of interconnected machines working together.

It further highlighted how the Ministry of Commerce and Industry aspires to lead in trade, industry and consumer protection by contributing to economic diversification. By contributing to economic diversification and focusing on quality sustainability and the development of the private sector to deliver better services to our customers

MoCI is leading the main implementation process with support from other government entities, based on their competencies. The strategy is being executed in three phases, starting with the quick wins phase (until end of 2024), followed by the major impact projects phase (from 2025-2028), and concludes with the complementary phase (from 2029-2030) to enhance achievements and address challenges.

The Quick Wins phase primarily targets quick-win projects with limited scope and low cost, which can be implemented in relatively short time frames. These projects have a clear impact in a specific area. Quick-win projects are those that decision-makers aim to implement at the beginning of the strategy to stimulate long-term performance.

The major impact phase is the remaining major projects that will be implemented are high-cost projects that have a direct and indirect impact on many activities and industrial sectors. The results of these projects will take time to show their effects on a broad scale, and the success of the strategy at this stage will be determined by these projects. It is important to note that these projects will pave the way for many other enhancements. The complementary phase will serve as a complementary period to cover any new projects added during the strategy period and compensate for any delays in the implementation of the original projects.

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