Doha, Qatar, 09 Jan. 2025 (QNA)

Prime Minister and Minister of Foreign Affairs of State of Qatar, Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani inaugurated the Ministry of Commerce and Industry Strategy 2024-2030 and Qatar National Manufacturing Strategy 2024-2030, under the theme 'Achieving sustainable economic growth'.

The two strategies were inaugurated at the Qatar National Convention Center, during a ceremony attended by a number of ministers, senior officials, along with representatives from the government and private sectors.

The strategies support Qatar National Vision 2030 and aim to foster sustainable growth, diversify priority sectors, and increase the private sector's contribution to GDP with a focus on enhancing manufacturing and strengthening Qatar's regional and global competitiveness.

'I Love Qatar', reported that the strategy aims to support the growth of small and medium-sized enterprises (SMEs), enhance intellectual property protection, and contribute to national self-sufficiency, with its FOUR pillars :

• Institutional excellence
• Improving business and investment environment
• Developing local industries and trade exchange,
• Promoting consumer protection and competition, while seeking to achieve full digitization by 2030.

The strategy includes 15 initiatives and 60 projects focused on enhancing manufacturing sector’s capabilities by increasing its gross output and accelerating its growth to become a key driver of development and innovation.

Both strategies build on the success of Ministry’s strategy 2018–2022, which contributed to economic growth, development of local industry, self-sufficiency, and non-hydrocarbon sector expansion.

The Ministry overhauled its services for individuals and businesses. It developed business laws and legislations; and cut the fees for some business activities by up to 90% to lower the burden on businesses and ensure a more competitive, investment-friendly environment.

In 2024, 99 % of transactions were conducted through 'Single Window' portal.

These strategies are a critical step toward building a diversified and sustainable economy in line with the Third National Development Strategy and Qatar National Vision 2030.

Indicators for the 2024–2030 strategies

1. Qatar National Manufacturing Strategy 2024–2030 aims to increase the percentage of Qatari factories adopting circular economy to 35%.
2. The Ministry of Commerce and Industry Strategy focuses on achieving 100% digitization.
3. Qatar National Manufacturing Strategy 2024–2030 seeks to support SMEs and increase their share into government procurement by 10%.
4. The Ministry aims to increase the number of patents by 20% annually.
5. Qatar National Manufacturing Strategy 2024–2030 seeks to raise the added value of the manufacturing sector to QR 70.5 billion.
6. Qatar National Manufacturing Strategy 2024–2030 aims to increase non-hydrocarbon exports to around QR 49.1 billion, with an annual growth rate of 2.5%.
7. Qatar National Manufacturing Strategy 2024–2030 aims to improve Qatar’s position on the Competitive Industrial Performance Index to be among the top 40 countries globally.
8. Qatar's National Manufacturing Strategy 2024–2030 aspires to increase the proportion of highly-skilled labour to 26.5% of total workforce by 2030.

Director of Business Development, Ministry of Commerce and Industry, Hamad Al Abdan talking on the occasion told http/:www.asiantelegraphqatar.com that investors does not need any sponsor and there is no minimum investment amount required condition. The interested parties may check MOCI Qatar portal.