Investments in food products industry stood at QR5bn in 2021, says Sheikh Mohamed

Qatar witnessed an increase in the value of investments in the food products industry, which stood at QR5bn in 2021, up 69% compared to its value in 2017, HE the Minister of Commerce and Industry Sheikh Mohamed bin Hamad bin Qassim al-Thani said during the launch of the ‘1,000 Opportunities Initiative’, which is part of the activities of the ‘National Product Week’.Similarly, HE Sheikh Mohamed said Qatar is currently witnessing a “remarkable increase” in the number of factories operating in the country, bringing the current number to 806 factories. The minister pointed out that the established industrial facilities have introduced new products, which totalled 845 over the past year.The 'National Product Week,' which will run until March 19, was inaugurated yesterday by the minister at the Ministry of Commerce and Industry (MoCI) headquarters in Lusail city in the presence of VIPs and other dignitaries. In the context of talking about Qatar’s industrial sector and the ministry’s achievements in this regard, HE Sheikh Mohamed announced the launch of the ‘1,000 Opportunities Initiative’, comprising an electronic platform within the Single Window Platform. It allows local investors to view the existing and future opportunities and projects that would meet their various needs in terms of products or services provided by local private sector companies, the minister explained, adding that the initiative is expected to contribute to providing significant investment and economic opportunities that would benefit the industrial sector, which has seen remarkable development during the past years. Acting QDB CEO Abdulrahman Hesham al-Sowaidi expressed his appreciation for the continuous support of MoCI to national companies that work alongside QDB’s support system to ensure their growth ambitions and enhance their contribution to the national economy.“During National Product Week, we celebrate Qatari products and encourage SMEs by promoting their products. We look forward to the active participation that we are well-accustomed to, of all members of the Qatari economic system and society members, to push our companies to new levels of development and excellence, in line with the goals of national development and economic diversification,” said al-Sowaidi.The opening ceremony was attended by representatives of a number of stakeholders, including the Ministry of Transport and Communications, Public Works Authority (Ashghal), Qatar General Electricity and Water Corporation (Kahramaa), Qatar Airways, and Katara Hospitality.The National Product Week initiative is the first-of-its-kind in Qatar. It aims to celebrate the success of Qatari companies and their products in various sectors, enhance efforts to localise supply chains and support self-sufficiency and economic diversification efforts in Qatar.The National Product Week includes a variety of events and activities over a seven-day period, including a conference that brings together a group of national shareholders and the most prominent players in the Qatari economy to discuss a number of topics and issues related to national products. The events also include specialised workshops aimed at honing the capabilities of entrepreneurs and enabling them to contribute to strengthening the private sector, in addition to a series of virtual bilateral meetings between various suppliers and buyers from various economic sectors to find new co-operation opportunities among them and open new horizons that serve the interests of all entrepreneurs and also pour into achieving the forum’s goals. Moreover, the National Product Week activities entail a virtual exhibition that includes virtual pavilions introducing a variety of Qatari products.