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11 January 2018 09:30 am

Qatar to award $29bn worth contracts to private sector in 2018

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Qatar plans to award contracts worth $29bn to the private sector in order to encourage diversification and focus on supporting food security projects, small and medium enterprises, and the development of infrastructure in economic zones and free trade zones, QNA reported yesterday.

The Qatari economy has started the New Year with optimistic plans to develop agricultural production to meet the needs of the local market and achieving self-sufficiency in agricultural and livestock products through the Qatar national food security programme and the comprehensive food security plan for the period 2014-2024.

The arable land in Qatar is about 65,000 hectare, which produces about 567,981.3 tonnes of agricultural products, which cover the needs of the local market by a large percentage.

Officials are considering the possibility of increasing the area of agricultural land in the country. The number of farms are likely to be increased in the coming years to 2,000 farms working on the production of vegetables, fruits and other items that would be supplied to the local market.

To support and promote the national industrial revival, the State organised last year Made in Qatar exhibition to get acquainted with the most prominent industries in the country and the economic development witnessed by the State during the recent period.

In addition, the exhibition was held to open up new markets and commercial outlets, to promote mutual trade growth with the countries of the world, enable manufacturers and businessmen in Qatar to identify these markets and provide them opportunities to share experiences, information and techniques that can benefit the business sector in the country.

These initial efforts resulted in emergence of new factories and industries in the country. The number of industrial establishments existing and those registered at the Ministry of Energy and Industry increased to about 730 with investments exceeding QR260bn.

The country’s expenditure on major projects is expected to reach about $25bn this year, targeting projects in education, health and construction sectors in preparation for hosting the FIFA World Cup in 2022. (Source)

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