The industrial strategy of Qatar aims to accelerate the growth rate of small and medium industries, which have a greater ability to increase the contribution of the sector. The Ministry of Commerce and Industry’s Industrial Services Platform is a smart interface designed to support investors in the industrial sector. The platform allows completing transactions pertaining to an industrial project in establishment, construction and operation stages. The platform also allows submitting requests for incentives and exemptions, namely requesting a customs exemption for an industrial facility, and requesting power supply at favourable prices. The industrial portal of the Ministry has revealed that with the establishment of 1,461 firms and the total value of production for registered and licensed firms in the country reaching QR2.634 trillion the sector has witnessed growth. The total investments in the companies reached QR235.07bn in the current year whereas the investments stood at QR232.07bn in 2023. The Industrial Strategy and Vision 2024-2030 includes 60 major projects within the framework of results-based strategic planning with key performance indicators to ensure specific and measurable objectives are achieved. The strategy has 15 initiatives which are a specific set of interconnected projects aimed at achieving measurable goals; and nine programmes that consist of industrial clusters, the fourth industrial revolution, international trade, workforce development, research, development and innovation, development of government operations, investment and financing, environmental sustainability, and localisation programmes. The Ministry of Commerce and Industry 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. Qatar’s Third National Development Strategy (NDS-3) outlines a targeted approach to industrial development between 2024 and 2030. It underscores the value of specialised, high-productivity clusters where Qatar either excels or could develop considerable advantages. In order to capitalise on the current environment, the government continues to refine regulatory frameworks to attract foreign and domestic investment for its industrial diversification agenda. In 2024, in a major move to stimulate economic growth, Qatar’s Ministry of Municipality significantly reduced rental rates for lands in the industrial zone designated for commercial and industrial activities. The ministerial decision has boosted the business activities and supports the national economy.
