Qatar has unveiled two ambitious strategies aimed at boosting the industrial and manufacturing sectors’ contribution to the country’s non-oil economic output to 3.4 per cent by 2030 while targeting $100bn in foreign direct investment, according to state-run Qatar News Agency.

The strategies are part of the Qatar National Vision 2030 framework and seek to promote sustainable growth, diversify priority economic sectors, and boost the private sector’s contribution to the GDP.

The Qatar National Manufacturing Strategy 2024/30 aims to boost the added value in manufacturing industries to $19.4bn (QAR70.5bn), increase non-hydrocarbon exports to QAR49bn, and advance industrial investments to QAR2.75bn by the end of the decade.

The strategy includes 15 initiatives and 60 projects. It focuses on diversifying industries by 50 per cent, increasing the private sector’s contribution to QAR36bn, and raising Qatar’s ranking among the top 40 countries in the competitive industrial performance index.

Statement by Mr. Ayed Menahi Al-Qahtani, Assistant Undersecretary for Commerce Affairs at the Ministry of Commerce and Industry, on the occasion of the Inauguration Ceremony for the Ministry of Commerce and Industry Strategy and Qatar National Manufacturing Strategy 2024 – 2030.… pic.twitter.com/LWnJZ5p2oG

— وزارة التجارة والصناعة (@MOCIQatar) January 9, 2025

Sheikh Faisal bin Thani bin Faisal Al-Thani, the Minister of Commerce and Industry (MoCI), said that the strategy focuses on shifting towards smart and green industries, advancing research and development, and enhancing the participation of the Qatari workforce in the manufacturing sector.

Similarly, the Ministry of Commerce’s strategy seeks to support small and medium-sized (SME) enterprises, expand the country’s global trade relations, and drive digital transformation and smart technologies in industries.

The initiative also seeks to increase the direct economic contribution, enhance the competitiveness and productivity of priority sectors, develop SMEs, and enhance intellectual property protection.

Al-Thani said the commerce ministry is implementing over 216 projects and initiatives and has established key performance indicators (KPIs) for each endeavour to guarantee success.

PwC said Qatar is looking ahead to an era of transformation and growth, which is underpinned by its Third National Development Strategy (NDS-3).

While the Gulf state’s significant oil and natural gas reserves have been the primary driver of its rapid economic expansion in the past, it is now transitioning towards a more diversified economic model.

Read: Qatar on track to double economy by 2031