Minister of Commerce and Industry: National Day Reflects Pride and Loyalty to Qatar

His Excellency Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of Commerce and Industry, emphasized that the National Day is a cherished occasion for Qataris, marking the anniversary of the founding of Qatar by Sheikh Jassim bin Mohammed bin Thani (may Allah have mercy on him). It embodies the values of pride in belonging to this dear nation and the loyalty of its citizens to their leaders.

In a statement to Qatar News Agency (QNA), His Excellency stated that this significant national event is an opportunity to reflect on Qatar's rich history and the accomplishments of its people. It celebrates the journey of achievements laid down by the founder and strengthened by generations, leading to the present, where Qatar stands tall and excels in various fields under wise leadership.

He added: "I extend my heartfelt congratulations to His Highness Sheikh Tamim bin Hamad Al Thani, the Amir of the State, His Highness Sheikh Hamad bin Khalifa Al Thani, the Father Amir, and His Excellency Sheikh Abdullah bin Hamad Al Thani, the Deputy Amir, as well as to the Qatari people and all residents of this noble land."

2024 Achievements of the Ministry of Commerce and Industry

His Excellency highlighted that 2024 witnessed significant achievements as part of implementing the objectives of the Third National Development Strategy (2024–2030), marking a new phase of growth and progress within Qatar National Vision 2030.

The Ministry focused on promoting economic diversification and developing priority sectors to support sustainable growth and position Qatar as a regional and global hub for investment and innovation. Among the Ministry's efforts this year:

1. Projects and Initiatives:

• Implementing initiatives aimed at achieving a 4% annual growth rate for non-oil GDP by 2030.

• Enhancing the investment environment to support SMEs and encourage public-private partnerships.

• Strengthening intellectual property protection and promoting self-sufficiency.

• Attracting $100 billion in foreign direct investment by 2030.

2. Industrial Development:

• Introducing the Manufacturing Industries Strategy (2024–2030) to enhance the industrial sector's GDP contribution.

• Increasing hydrocarbon exports to over QAR 49 billion.

• Raising industrial sector investment to QAR 326 billion and improving Qatar’s ranking in the Industrial Competitiveness Index to the top 40 globally.

• Promoting advanced and knowledge-based industries.

3. Key Milestones in 2024:

• Announcing QAR 2.3 billion investment opportunities in strategic sectors like plastics and aluminum.

• Collaborating with entities like Ashghal and the Ministry of Education to launch a PPP-based program for developing 14 modern schools by the 2025–2026 academic year.

• Supporting infrastructure projects like wastewater treatment in Al-Wakra and Al-Wukair and operating strategic silos in Hamad Port for key commodities.

4. Facilitating Gulf Investments:

• Launching platforms for unified economic records and electronic payment systems.

• Reducing fees for various services by over 90% to support entrepreneurship.

• Introducing streamlined business registration and renewal processes.

503,122 Transactions Through Single Window

The Ministry enhanced its digital services to attract investments and streamline business processes. The Single Window platform underwent significant upgrades, connecting with 17 government entities and offering over 30 main services in Arabic and English. From January to October 2024, 503,122 transactions were processed, highlighting its role as a central hub for commercial and industrial operations.

Efforts to attract foreign investments continued, aligning with Qatar National Vision 2030’s diversification goals, through initiatives by Invest Qatar and Qatar Development Bank. Notable achievements include reducing commercial registration issuance time from 60 days to 7 days and transitioning investment approvals to an electronic format.

Source: Al-Raya Newspaper.