Qatar launches new investments worth QR4 billion

 13 Dec 2017 - 18:08

Qatar launches new investments worth QR4 billion
(File Photo) Photo by Kammutty VP © The Peninsula


Doha: Investments worth more than QR4 billion in projects mainly in the health, education, logistical support, agricultural produce, industry and environmental sectors were announced by the Ministerial Group for Encouragement and Participation of Private Sector in Economic Development Projects of Qatar. 

In accordance to the directives of the Emir H H Sheikh Tamim bin Hamad Al Thani of reaching self-sufficiency and reliance, the Ministerial Group chaired by Prime Minister and Interior Minister H E Sheikh Abdullah bin Nasser bin Khalifa Al-Thani, announced the new initiatives in different sectors. 

In the education sector, investors were chosen to establish seven schools. The plots for the schools are already allocated and provided with necessary infrastructure. The investment for these schools will be QR750 million and will accommodate a total of 9,000 students in different age groups. 

The Ministerial Group also provided permits for building three private hospitals ranging in size from 30 thousand meters to 65 thousand meters and will mainly be located in Al Rayan and Al Shamal municipalities. The total investment will be QR2.2 billion and will serve 18,000 patients. 

In the logistics sector, the phase two of housing projects for workers was launched. Two pieces of land in Umm Salal measuring 80 thousand square meters were allocated for the purpose. Priority was given to those areas after studying the need of companies working on state projects.

To achieve integration of agricultural production projects, an integrated agricultural marketing center will be put up at the agricultural gathering area located in Al Mazrouh. Land measuring 25,000 square meters with necessary infrastructure was allocated for the same.

The project aims to improve the marketing, distribution, and storage of local agricultural products and also market surplus vegetables as frozen or canned vegetables. 

The project will also include an integrated depot for sorting and packing local vegetables and a vegetable storage area equipped with storage coolers. It will also contain a production line for frozen and canned vegetables and a fleet of refrigerated vehicles to market local vegetables in addition to a display of fertilizers, seeds, tools and other agricultural production inputs. 

Introduction of such a project will help agricultural producers to focus on farming and developing the quality of the product, where as the winner of the usufruct of this project will take charge of the post-production operations.

In industrial sector, 38 factories have entered the production stage since the beginning of the unjust blockade of the state. It is expected that 54 new factories will enter production in the middle of next year in various sectors like food, plastic, wood, metal, textile, paper and other industries.

These projects are in addition to the 63 factories adopted by the ministerial group last November, which was achieved through the initiative of ‘own your factory within 72 hours’.

Last week, the ministerial group announced a general tender for the national companies concerned to recycle the waste of each company at Rawdat Al Rashed landfill within five years. 

It also announced signing of fish farming project in floating cages, which aims to produce about 2,000 tons of local fish annually.

The Prime Minister had recently issued decisions to support domestic investment and encourage the private sector. He directed all ministries and government agencies to raise the percentage of purchase of local products, which conform to the approved standards in accordance with the regulations and policies of the tenders and auctions committees. The rent in the logistics areas south of the state, and belonging to Economic Zones Company (Manateq), was reduced by 50 percent.

It also decided to provide more exemptions to stimulate investors to speed up the completion of their projects on time.

The Prime Minister directed Qatar Development Bank to postpone the loan installments to industrial project owners approved by the Ministry of Energy and Industry’s concerned committee for up to 6 months to support investors in the industrial sector.