The Minister of Commerce and Industry, Sheikh Faisal bin Thani Al-Thani, announced the Ministry’s strategic focus on economic diversification and an annual 3.4% growth in non-oil sectors.
The strategies, aligned with Qatar National Vision 2030, aim to boost foreign direct investment (FDI) to $100 billion by 2030. The initiatives focus on fostering innovation, strengthening the business ecosystem, and increasing private sector contributions to the GDP.
Key objectives include expanding Qatar’s industrial sector, enhancing regional and global competitiveness, and promoting sustainable economic growth. The Ministry’s plan emphasises four pillars: institutional excellence, business and investment climate improvements, industrial and trade development, and consumer protection alongside competition encouragement.
The manufacturing strategy targets QAR 70.5 billion in added value within manufacturing, non-hydrocarbon exports of QR 49 billion, and QAR 2.75 billion in annual industrial investments by 2030. The plan outlines 15 initiatives and 60 projects to diversify industries by 50%, increase private sector contributions to QAR 36 billion, and improve Qatar’s competitive industrial performance globally.
The strategy also promotes smart and sustainable industries, research and development, and labour market alignment with education outcomes. Efforts to support small and medium enterprises (SMEs), enhance intellectual property frameworks, and drive public-private partnerships are included in the initiatives.
The Minister emphasised the need to overcome existing challenges to meet these targets, highlighting the Ministry’s commitment to continuous evaluation through key performance indicators.
The strategy builds on previous efforts to strengthen non-oil sectors and improve self-sufficiency. The Ministry aims to collaborate with stakeholders to achieve the long-term goals outlined in Qatar’s Third National Development Strategy and Vision 2030.
