DOHA: The industrial sector in Qatar has witnessed a phenomenal growth since the blockade with hundreds of new factories coming up in the country, data from Qatar Chamber reveal.
By the end of this year, several factories will start production. There are currently 476 factories under construction in addition to about 915 existing factories, bringing the total to 1,391 with investments estimated at 292 billion riyals.
Speaking to Al Sharq, Sheikh Khalifa bin Jassim bin Muhammad Al Thani, Chairman of the Qatar Chamber, affirmed that the partnership between the private and public sectors will play a major role in achieving an integrated economy and expedite the process of economic diversification in line with the Qatar National Vision 2030.
Sheikh Khalifa said the coming period would witness the launch of more projects within the framework of the partnership between the two sectors, especially after the issuance of the partnership law, which came at the appropriate time.
He pointed out that the three-year post-blockade period witnessed the establishment of a large number of companies in Qatar and there was a flow of foreign investments into the country, contrary to what the blockading countries had expected, thanks to the legislation, facilities and incentives provided by the state to attract investments.
According to the data of the Qatar Chamber, the number of companies established after the blockade reached more than 47,000 in all sectors. In 2017, about 15,000 companies were established, and in 2018, more than 17,000 new companies, and in 2019 there were about 12,000 companies, In the first half of 2020, there were around 3,000 companies.
These companies have helped break the blockade imposed by the neighbouring countries as Qatar relied on imports from neighbouring countries before the blockade.
Several new industries were set up in Qatar which previously didn’t exist, especially in the areas of food security. This contributed to state’s efforts to achieve self-sufficiency.