(MENAFN- Gulf Times) Increased private sector funding could help kick-start the creation of a range of manufacturing hubs in various sectors of the country, an official of Qatar Chamber has said.
Speaking to Gulf Times on Monday, vice chairman Mohamed bin Towar al-Kuwari said Qatar Chamber is constantly in talks with government authorities to help promote the private sector.
He underscored the role of the government and organisations like Qatar Development Bank in increasing private sector funding 'up to QR40bn to enable local companies 'to add value to their products and sell raw materials at low prices.
'This can help boost sectors like healthcare, food production, manufacturing, industry, and services, among others. Qatar is rich in raw materials and LNG. Not only can we become self-sufficient but we can also increase our exports in the future, al-Kuwari noted.
The Qatar Chamber official pointed out that the economic blockade provided both the government and the private sector 'experience and the opportunity to open new markets locally.
Citing the full operations of Hamad Port, al-Kuwari stressed that the private sector can meet the needs of the market and has the capacity to contribute to the State's food security programme.
'The economic blockade imposed by Saudi Arabia and its allies has led us to forge new partnerships with other countries that are keen and ready to assist Qatar. In terms of food security, we now have many local companies that are supporting the country and if we can develop these businesses further, we can boost our food production to provide both locally and internationally, he explained.
Al-Kuwari also emphasised the efforts taken by state-run economic zone developer Manateq in assuring the availability of storage, warehousing, and logistics facilities for local and international companies.
'There are always two major players the government and the private sector, and both have taken new strategies to address the needs of the local market, said al-Kuwari, citing an earlier statement released by Qatar Chamber chairman Sheikh Khalifa bin Jassim al-Thani.
According to Sheikh Khalifa, Qatar 'promptly managed to find new alternatives, especially with the launch new direct marine routes with Oman such as Salalah and Sohar ports and with India through Mudra and Nhava Sheva ports, in addition to Izmir port from which a ship loaded with 3,000 tonnes of foodstuffs arrived in Qatar a few days ago.
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