- | 2:00 pm
Qatar’s industrial sector shows growth with rise of SMEs and investments
The number of registered and licensed firms in the country reached 1,449 this year.
![Qatar’s industrial sector shows growth with rise of SMEs and investments Qatar’s industrial sector shows growth with rise of SMEs and investments](https://fastcompanyme.com/wp-content/uploads/2024/07/Qatars-industrial-sector-shows-growth-with-rise-of-SMEs-and-investments-.jpg)
Qatar, which aims to accelerate the growth rate of small and medium industries, is seeing an increase in the industrial sector’s contribution to the GDP. According to the Ministry of Commerce and Industry industrial portal, the sector has grown as the number of registered and licensed firms in the country rose to 1,449 in 2024, investments in the companies totaled $63.9 billion, and the production value amounted to $702 billion.
The manufacturing of fabricated metal products, rubber and plastic products, food products, and chemicals is witnessing a growth surge.
The growth is also partly driven by the ministry’s Industrial Services Platform, an interface designed to support investors throughout various stages of the industrial project with less time and effort and without the need to visit the ministry’s headquarters.
The platform allows for the completion of other transactions, such as issuing, renewing, increasing production capacity, modifying production data, and requesting changes in the location of the industrial project.
To boost business activities and support the economy, Qatar’s Ministry of Municipality recently reduced rental rates for lands in the industrial zone designated for commercial and industrial activities.
Now accepting applications for Fast Company Middle East’s Most Innovative Companies. Click here to apply.