GOIC secretary-general Abdulaziz bin Hamad al-Ageel (3rd from left) speaks during the launch of the “Invest in Qatar Forum.” PICTURE: Thajudheen

By Peter Alagos/Business Reporter


“Remarkable growth” in Qatar’s industrial sector is expected to attract more investments to the country, in addition to the construction boom and key infrastructure mega-projects driven by the country’s hosting of the FIFA World Cup in 2022, a Gulf Organisation for Industrial Consulting (GOIC) official said.
GOIC secretary-general Abdulaziz bin Hamad al-Ageel made the statement during the announcement of the launching of the “Invest in Qatar Forum” slated on April 27 and 28 at the Saint Regis Hotel in Doha. “This event aims to bring in more investors to Qatar by introducing key investment opportunities in various sectors. The upcoming forum would be the first edition, and we plan to hold it on an annual basis,” al-Ageel told Gulf Times on the sidelines of the event.
He explained that the forum will focus on Qatar’s “broad investment space” and opportunities in the following areas: pharmaceuticals, food, green building materials, recycling, petrochemicals, and aluminium.
“Qatar has strong, promising, and encouraging economic prospects in the coming years, and by focusing on investment opportunities, this forum would help strengthen the country’s level of competitiveness in the region and abroad,” al-Ageel stressed. Al-Ageel said the value of local investments in joint industrial projects was $29.2bn or 35.4% of the total cumulative investments in manufacturing industries.
Cumulative investments of joint Gulf factories were valued at $2bn or 2.4% of the total industrial investments, while Arab non-Gulf investment shares were valued at $141.5mn only, he also said.
“Moreover, joint foreign industrial ventures were valued at $16.4bn in 2014 or 20% of the total investments in manufacturing industries,” al-Ageel added.
Al-Ageel said the forum is supported by the Ministry of Energy and Industry and other partners such as QNB, Manateq, Qatar Development Bank (QDB), and Qatar Industrial Manufacturing Company (QIMC).
He also explained that the forum is part of GOIC’s mandate and role in helping expand and form development opportunities for GCC industries.
“The event is not only limited to GCC industries but it is open to other countries like China, Turkey, Germany, among others. We are looking forward to initiate match-making sessions between these countries and investors from the GCC,” al-Ageel emphasised.
In a speech, QIMC CEO Abdul Rahman al-Ansari said, “There are a lot of opportunities in the manufacturing industry that can be invested in the region, specifically in the field of aluminium. The Gulf region is seeking to focus on the industry and take advantage of promising opportunities in this sector.”
Aside from attracting more investors, al-Ansari also emphasised the importance of sustainable development, especially the value of recycling.
“We need to take advantage of existing technologies in recycling in order to overcome issues related to environmental protection. The government sector should increase its awareness campaign on the importance of using ‘green’ materials, especially in the building and construction industry,” al-Ansari said.