Qatar’s industrial sector has witnessed an increase in the number of operating factories to 915 as of September.
17 September 2020, 12:00 AM
30 September 2020, 12:00 AM
The number of factories operating in Qatar has reached 915 in 2020, a 17% increase compared to 2017, an official of the Ministry of Commerce and Industry (MoCI) reported during a virtual forum on Tuesday.
Undersecretary of the Ministry of Commerce and Industry - Sultan bin Rashid Al Khater said, “Foreign investors may tap into the country’s infrastructure projects related to the FIFA World Cup 2022 and as well as opportunities in a thriving industrial sector.” He was chairing the digital session on commercial cooperation which was held within the framework of the third Qatar-US strategic dialogue.
The session was also co-chaired by Ian Steff, Assistant Secretary for Global Markets and Director General of the United States and Foreign Commercial Service and Peter Haas, Principal Deputy Assistant Secretary for Economic and Business Affairs, and attended by a number of diplomats, ambassadors, senior officials and representatives of various governmental bodies and agencies from both countries.
Al Khater said, “Qatari, US trade relations have gained considerable momentum since the signing of the Trade and Investment Framework Agreement (TIFA) in 2004, with total trade now eight times more than it was 16 years ago and twice the value of 2017.”
Speaking about bilateral investments between both countries, Al Khater said that US firms are increasingly active in Doha, noting that American companies have been operating in Qatar for decades, and have been critical partners in the nation’s development.