Qatar’s industrial sector fuels economic diversification in 2024
19/01/25
Qatar’s industrial sector is experiencing significant growth, driven by strategic government initiatives aimed at diversifying the economy and supporting the development of small and medium-sized enterprises (SMEs).
As of 2024, the sector has seen the establishment of over 1,400 new industrial firms, with the total production value from registered and licensed companies rising to QAR 2.63 trillion (USD 72.25 trillion), reflecting a 3% increase from QAR 2.56 trillion (USD 70.33 trillion) in 2023.
Furthermore, The Ministry of Commerce and Industry’s (MoCI) industrial portal reveals that industrial registrations in 2024 amounted to 990, while 471 industrial licenses were issued, bringing the total to 1,461 new firms. As a result, total investment in industrial companies reached QAR 235.1 billion (USD 64.59 billion), compared to QAR 232.1 billion (USD 63.76 billion) in 2023.
Important sectors driving growth include the manufacturing of fabricated metal products (219 firms), non-metallic mineral products (216 firms), rubber and plastics (201 firms), food products (177 firms), and chemicals (124 firms). In terms of investment, the highest figures are seen in coke and refined petroleum manufacturing QAR 77.53 billion (USD 21.3 billion), chemicals QAR 85.5 billion (USD 23.49 billion), and basic metals QAR 31.51 billion (USD 8.66 billion). Moreover, the industrial capacity includes a range of products, from livestock and dairy to fruits, vegetables, and edible products of animal origin.
As part of its long-term vision, Qatar is focused on accelerating the growth of SMEs to significantly boost the sector’s contribution to GDP. In order to support this vision MoCI's Industrial Services platform supports investors through streamlined processes for project establishment, construction, and operation. The platform also provides facilities to request customs exemptions and favorable energy pricing. In addition, Qatar’s Industrial Strategy and Vision for 2024-2030 outlines 60 major projects aimed at achieving measurable results, with 15 interconnected initiatives focusing on industrial clusters, innovation, sustainability, and workforce development
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