(MENAFN- Gulf Times) Qatar Industrial Manufacturing Company (QIMC) has joined the list of diamond sponsors of the "15th Industrialists' Conference" slated on November 25 and 26 in Kuwait, the Gulf Organisation for Industrial Consulting (GOIC) has announced.
QIMC chief executive officer Abdulrahman al-Ansari said the company's sponsorship was the result of "the continuous co-operation between GOIC and QIMC that was crowned by a memorandum of understanding between the two entities."
"QIMC is keen on taking part in the Industrialists' Conference in light of its key role in elaborating development strategies in GCC countries to stimulate the industrial sector," al-Ansari said.
GOIC secretary general Abdulaziz bin Hamad al-Ageel lauded QIMC's "critical role at the national and regional levels." He also underlined the importance of GOIC and QIMC's "continuous co-operation, which highly-contributes to boosting the GCC industrial sector."
"QIMC was the result of Qatar's efforts to engage the private sector in the economic development process. This approach was based on investments in small and medium-sized enterprises (SMEs)," al-Ageel said.
Al-Ageel said the core of QIMC's investment policy is investing in "lucrative industrial projects" based on the use of natural resources and intermediate inputs locally and regionally.
QIMC started operations in 1990 and became a pioneer in the area of SMEs in Qatar. It is taking part in 16 projects, all in the production phase, in different industries like petrochemicals, chemicals, construction materials, and food processing.
To achieve its investment goals, QIMC welcomes investors and technology proprietors who would like to participate in joint ventures in the area of SMEs. The company also aims to increase job opportunities for nationals, transfer modern production technologies, and contribute to Qatar's trade balance.
GOIC said the 15th Industrialists' Conference aims to identify clear policies to stimulate development plans in GCC (Gulf Cooperation Council) countries based on a comprehensive set of elements drawing foreign investors.
It also seeks to create an ambitious strategy to develop and promote the industrial sector in order to attract more foreign investments. Furthermore, it aims at enacting legislations and laws and offering facilitations and incentives to foreign investors in order to create a promising investment environment.
The conference will seek to strengthen the level of competitiveness of GCC countries by attracting foreign investments to promote Gulf economies, GOIC said.
"The conference will develop recommendations and suggestions to improve the investment environment and overcome obstacles hindering foreign investments and directing foreign investments in accordance with GCC strategic plans to achieve their development goals and maximise the benefit from these investments. In addition to that, they will work on determining key pillars of GCC investment plans in the industrial sector," GOIC added.
With the theme "Foreign Direct Investment in GCC and its Impact on Industry," the event is organised by Kuwait's Ministry of Commerce and Industry, the Public Authority for Industry (PAI), and GOIC, in collaboration with Kuwait Direct Investment Promotion Authority (KDIPA), Kuwait Chamber of Commerce and Industry, the Industrial Bank of Kuwait and Kuwait Industries Union, and in co-ordination with the Secretariat-General of the Gulf Co-operation Council and the Federation of GCC Chambers (FGCCC).
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