(MENAFN- The Peninsula) The Minister of Economy and Commerce, H E Sheikh Ahmed bin Jassim bin Mohamed Al Thani (pictured), yesterday announced that investments of Qatari companies in the new storage facility area estimated at QR2.77bn.
In remarks during the launch of the Warehouse Project yesterday, the minister said the project, which will be carried out in a single phase within a period of about 24 months, aims to provide suitable storage facilities for small and medium-sized enterprises in terms of size, location and uses.
The project seeks to develop precise controls for a combination of products based on the actual needs of the market, bridge the gap between supply and demand in the storage market, provide solutions in order to correct market problems such as illegal and unsafe storage areas and reduce the big increase in the cost of goods curb the inflation, he said.
The Minister expressed happiness over the success of the efforts of the government, represented by the Logistics Committee in launching the project as a quick response to an important part of the requirements for building a strong and diverse economy capable of strengthening the presence of the State of Qatar on the international economic map by depending on the active role of the private sector as a true partner in the path of the country's sustainable development trajectory.
The vital project launched by the government is an important step in the development of the logistics services sector in Qatar, and for keeping pace with the economic boom in the country, the minister said.
In the context of the search for appropriate solutions to the challenges facing the performance of all the components of the national economic fabric, he said: "We have to accelerate steps to move from the planning stage to the implementation stage in an effort to launch a national project that will contribute to the expansion of the private sector's contribution to the GDP, improve competitiveness, increase the efficiency of the domestic market in the face of global prices fluctuations, control supply and demand trends, and support efforts aimed to diversify the production base to achieve sustainable economic prosperity".
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