The Qatar Chamber (QC) and the Qatar Industrial Manufacturing Company (QIMC) have recently signed a diamond sponsorship agreement for the ninth edition of the ‘Made in Qatar 2023’ Exhibition.
The agreement was signed on Sunday October 1 by Saleh bin Hamad al-Sharqi, General Manager of Qatar Chamber and Chairperson of the Exhibition’s Technical Committee, and Abdulrahman bin Abdulla Al Ansari, QIMC’s CEO, at the Chamber’s headquarters.
Held under the patronage of the Amir HH Sheikh Tamim bin Hamad Al Thani, the ‘Made in Qatar’ exhibition is organised by the Qatar Chamber in cooperation with the Ministry of Commerce & Industry (MoCI) from November 29 to December 2 at the Doha Exhibition and Convention Centre (DECC).
On this occasion, Saleh al-Sharqi expressed his thanking to the QIMC for supporting the exhibition, stressing that this sponsorship reflected the company’s interest to supporting the national industry.
He praised the company’s vital role in the local market and in the national economy in general, as one of the most leading industrial companies in Qatar.
Al-Sharqi also emphasized the exhibition’s role in promoting the national industry and fostering communication among businessmen and entrepreneurs in the industrial sector.
He expressed hope that the exhibition would significantly contribute to the further development of the industrial sector, showcasing Qatar’s most prominent industries and products, ultimately reducing reliance on imports.
On his part, the CEO of QIMC emphasized the company’s strong commitment to supporting the exhibition in all its editions, whether held inside or outside the state. He stressed that the expo has played a significant role in bolstering the presence of local products in the domestic market and in promoting them internationally.
Al Ansari affirmed that the exhibition provides great opportunity for Qatar companies to establish new partnerships, and alliances, and make deals, benefitting the private sector and Qatar’s economy in general.
“It encompasses most industries existing in the local market,” he said, adding that it offers a good opportunity for investors and manufacturers to identify the industries that do not currently exist in the state, paving the way for reviewing the possibility to invest in these new industries.
It is noteworthy that the Qatar Industrial Manufacturing Co. (QIMC) was established in 1990 with 20%80% government and private equity interests respectively. The establishment of QIMC was in fact a clear manifestation the particular attention given by the State of Qatar t the issue of the private sectors participation in the process of the country’s economic development through investing in medium and large scale industries.
QIMC’s initial authorized capital was set at QR 200 million (US $ 55 Million) and fully paid by 2002. In 2006, capital was increased by 50% to QR 300 million. In 2009, capital was increased by 20% to QR 360 million and 2010, capital was increased by 10% to 396 million. In 2014, capital was increased by 20% to 475.2 million.
QIMC started business in May 1990 only to become within a short period of time one of the pioneering companies in the field of small and medium scale industries in Qatar. Far from being confirmed to the State of Qatar, QIMC’s activities extended to other GCC counties such as Saudi Arabia, Bahrain and Oman.
Currently, QIMC has equity interest in 21 projects in various industries sector including chemicals, petrochemicals, construction materials, food processing and Glass Bottle. QIMC is also currently investigating the economic feasibility of several other projects in collaboration with other local and foreign interested parties.