(MENAFN- Gulf Times) Qatar could further stimulate activity in its manufacturing sector by serving as regional hub for various industries in the Middle East, a Qatari businessman has told Gulf Times.
Aside from tourism and the country's growing hospitality sector, Qatar's hydrocarbon industry is well-established in the international market since the leadership of HH the Father Emir Sheikh Hamad bin Khalifa al-Thani, said local businessman Farhan al-Sayed, who is also the founder of Qatar Extreme Sports (QES).
"The Father Emir, through his vision, has opened and diversified the market in the fields of petrochemicals, fertilisers, by-products of oil and gas, and aluminium, as well as tourism and Qatar's booming hotel industry due to the country's hosting of the FIFA World Cup in 2022," he noted.
By establishing Qatar-based assembly plants or manufacturing facilities, al-Sayed said, many industries such as the automobile sector will benefit from low transportation costs.
"A lot of things can be done since the Arabian Peninsula and the Middle East is quite a large region"it depends on what we already have and what products are still not manufactured in the region, but it would be a very good idea," said al-Sayed during an interview.
He added: "At the end of the day, it's all about cost, especially in terms of transportation of goods. Many products are being manufactured in India and China. But transportation costs vary in different areas and if they become expensive, the same goes with shipment costs. If Qatar becomes a manufacturing hub for the region, then we can give a better price."
Al-Sayed's statement echoes the views previously expressed by Adam Kulach, ambassador of the EU delegation in the GCC. Kulach said the automobile industry's diverse sectors like manufacturing, assembly plants, and parts and service suppliers could benefit from the region's oil and gas industry.
Kulach pointed out that oil and plastic from producing GCC countries "are essential" in the automotive industry.
Aside from being a potential regional manufacturing hub, lower shipment costs could also be achieved from the full operations of the Hamad Port, according to experts.
In terms bilateral trade, Philippine ambassador Wilfredo Santos previously said the new port will hasten the transport of Philippine exports to Qatar since the goods will no longer need to pass through Jebel Ali Port in Dubai.
Similarly, Thailand ambassador Piroon Laismit also stressed that Qatar can engage in direct trade with any country thus, "enhancing further" Qatar's import and export activities.
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