His Excellency Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, Prime Minister and Minister of Foreign Affairs, inaugurated the Ministry of Commerce and Industry Strategy and the Qatar National Manufacturing Strategy 2024–2030 under the theme “Achieving Sustainable Economic Growth.” The event, held today, Thursday, January 9, 2025, at Qatar National Convention Centre, was attended by esteemed ministers, senior officials, and representatives from both the public and private sectors.
The two strategies aim to support the Qatar National Vision 2030 by fostering sustainable economic growth, diversifying priority economic sectors, and increasing the private sector’s contribution to GDP. They also focus on enhancing the manufacturing sector and strengthening Qatar’s regional and global economic competitiveness.
In his speech, H.E. Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of Commerce and Industry, expressed gratitude to the Prime Minister for his patronage of this important event. He emphasised that the Ministry's strategy aligns with the Third National Development Strategy, which seeks to achieve “sustainable economic growth” within the framework of Qatar National Vision 2030.
H.E. highlighted that the Ministry of Commerce and Industry Strategy aims to diversify economic sectors and achieve a compound annual growth rate (CAGR) of 3.4% for non-hydrocarbon GDP, with a target of attracting $100 billion in foreign direct investments by 2030. These goals support the strategy’s objectives of fostering innovation and entrepreneurship while improving the business environment to attract more international investments.
H.E. added that the strategy underscores the importance of supporting the role of small and medium-sized enterprises (SMEs) as key drivers of economic diversification. It also prioritises strategic partnerships and collaboration to expand Qatar's global trade relations, accelerate digital transformation and smart technologies in industries, and ensure the integration of sustainable development practices across various sectors.
The new strategy comprises four main pillars: institutional excellence, improving the business and investment environment, developing local industries and trade exchange, and consumer protection and competition promotion. The strategy also focuses on enhancing direct economic contributions, improving the competitiveness and productivity of priority sectors, empowering public-private partnerships, supporting SMEs, strengthening intellectual property protection, and contributing to national self-sufficiency. H.E. noted that the Ministry has outlined ambitious development plans comprising over 216 projects and initiatives, backed by key performance indicators (KPIs), to ensure successful implementation and continuous evaluation.
Regarding the Qatar National Manufacturing Strategy 2024–2030, H.E. stated that it aims to strengthen the manufacturing sector’s capabilities, increase its gross output as a driver of development and innovation, and raise the sector’s value-added contribution to QAR 70.5 billion. Additionally, it seeks to boost non-hydrocarbon exports to QAR 49 billion and attract annual industrial investments of QAR 2.75 billion by 2030.
The strategy encompasses 15 initiatives and 60 projects, focusing on diversifying industries by 50%, increasing the private sector’s value-added contribution to QAR 36 billion, and positioning Qatar among the top 40 countries in the Industrial Competitiveness Index. It also prioritises a transition toward smart and green industries and aims to foster research and development to boost productivity, align education outcomes with labour market needs, and increase the participation of Qatar’s workforce in this vital sector.
H.E. underscored that the Ministry's new strategy builds on the achievements of its previous 2018–2022 strategy, which laid the groundwork for economic growth, local industry development, self-sufficiency, and non-hydrocarbon sector expansion. H.E. added that significant progress had been made, expressing confidence in overcoming any challenges that may arise to achieve Qatar’s ambitious goals.
H.E. Minister of Commerce and Industry concluded his speech by expressing his hope for continued collaboration with the Ministry’s partners to build a bright future for Qatar’s economy, aligning with the Third National Development Strategy and Qatar National Vision 2030.
