The State of Qatar continues to have one of the world's fastest-growing economies and offers a wide range of investment opportunities thanks to its ambitious 2030 vision, which includes human, social, economic, and environmental expansion.
In the last ten years, Qatar's industrial sector has experienced tremendous growth. The Ministry of Industry and Energy reports that there were 728 units of industries in Qatar as of July 2017 with a combined workforce of over 90,000.
In 2022, the industrial development strategy has grown up to 13% of the nation's GDP, up from 9.5% in 2016.
Did you know that the FIFA World Cup, the most watched sporting event in the world, will be held in Qatar in 2022? It is hardly surprising that Qatar may get multiple advantages from hosting an event of this magnitude that goes well beyond the sports industry.
Building infrastructure to welcome and accommodate visitors will have a significant beneficial economic impact on the nation. More than 1.5 million new jobs will be created, according to Qatar, as a result of hosting the FIFA World Cup in important industries including construction, real estate, and hospitality. The event is anticipated to have positive effects on the tourism sector. According to officials, the World Cup will draw over a million people and bring in about QAR 66 billion to Qatar's economy by 2025.
Benefits of Industry in Qatar
Here are some of the benefits of industry in Qatar.
Allocate strips of land suitable for industrial ventures that are equipped with all required infrastructure and facilities at affordable prices.
Exemption from customs charges for imports about to an industrial project
Providing water and power at reasonable prices
Obtaining loans from the Qatar Development Bank (QDB) on favorable terms
Aiding exports from projects involving industry through the QDB export agency
Planning exhibits domestically and abroad to market Qatari goods
Creation of the "Manateq" business to create industrial zones across the nation
The introduction of a single window to help with the entire licensing procedure
Different types of industrial license
Documents required
Authorization letter that contains the name of the authorized person
Copy of their ID card
Commercial registration
Articles of association in case they are applying for an existing company
Other information as requested by the Ministry
How to get an Industrial license in Qatar
There are two stages of factory establishment.
Establishment
This is where an investor fills out a detailed application. This phase is finished with the commercial registration issue and the industrial project following preliminary approval. Additionally, the investor will choose if he requires a plot of land to begin his project.
Licensing
Upon initial approval of the industrial project, the environmental licenses and industrial land allocation permits (if the investor requires land) will be provided concurrently. After getting the industrial license, the investor is allowed a go-ahead to establish and set up the factory.
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