MoCI: QR50mn in new industrial sector investments in Q1 of 2025

29/04/2025 03:45 AST

The Ministry of Commerce and Industry (MoCI) announced that new investments in the industrial sector reached QR50mn during the first quarter of this year.

The announcement came during the ministry's first quarterly performance review meeting, chaired by HE the Minister of Commerce and Industry, Sheikh Faisal bin Thani bin Faisal al-Thani, and attended by HE the Minister of State for Foreign Trade, Dr Ahmed bin Mohammed al-Sayed; Undersecretary of the ministry, Mohammed bin Hassan al-Malki; and other senior officials.

In a statement issued Monday, the ministry noted that the meeting reviewed and evaluated the ministry's overall performance and progress in line with its approved strategic plans. Key achievements during the first quarter included the launch of a service allowing foreign investors to establish companies using only a passport, the simplification of environmental permit procedures for industrial facilities in co-operation with the Ministry of Environment and Climate Change, the integration of logistics activities into a single commercial registration in partnership with the Ministry of Transport, and the automatic issuance of tax cards upon the registration of new businesses.

The ministry also launched the "National Product" page on its website to promote fair competition and enhance the quality of local products. Additionally, the verification process for local factories eligible for benefits under the In-Country Value Plus (ICV+) policy has commenced.

The statement further detailed that the meeting reviewed detailed performance indicators across the ministry's sectors and administrative units. Results showed that the manufacturing sector contributed QR52.4bn to Qatar's real GDP in 2024. Qatar also advanced significantly in global business efficiency rankings by the International Institute for Management Development (IMD), moving from 18th place in 2022 to 11th place in 2024. Furthermore, the Ministry continued its inspection operations, carrying out 39,558 inspections during the first quarter.

The meeting also addressed the status of the ministry's projects under the Third National Development Strategy (2024-2030), with 17% of the projects completed and 23% currently underway.

In the trade sector, the ministry reported a 32% increase in the number of new commercial registrations in Q1-2025 compared to Q1-2024. The ministerial decision to reduce service fees and facilitate company establishment for foreign investors using passports significantly contributed to an 87% rise in the issuance of new commercial licenses year-on-year. Additionally, the average time to issue commercial registrations decreased compared to the same period last year, while the number of home business licenses rose by 54% following an expansion of permitted activities from 10 to 63.

Moreover, the Single Window platform launched three new e-services during the first quarter, with plans to introduce 38 more services by year-end. User satisfaction with electronic services remained high. Patent applications, trademark registrations, and copyright applications also increased by more than 18% compared to Q1-2024.

In the industry and business development sector, eight new factories were launched in the first quarter, with new industrial investments totalling QR50mn. Non-hydrocarbon industrial exports reached QR29.8bn, and six potential public-private partnership opportunities were studied.

Regarding consumer affairs, the ministry continued efforts to reduce violations through intensified inspection and awareness campaigns. The meeting also reviewed food and feedstock security levels.

The meeting concluded with a review of progress on approved projects for the first quarter, discussions on key challenges faced by the ministry, and proposals for solutions to enhance plan implementation, ensure continuous performance improvement, and further enhance the quality of services provided.

Arab News