Qatar Chamber has signed a sponsorship contract with Qatar Industrial Manufacturing Co (QIMC) for “Made in Qatar” exhibition to be held in Saudi Arabia.
In order to promote Qatari products abroad, Qatar Chamber is organising the expo outside Qatar in Riyadh for the first time from November 6 to 9.
The exhibition will be held at Riyadh International Convention and Exhibition Centre on an area of 10,000 square metres, and includes a selection of products of leading Qatari companies along with small and medium businesses to introduce Qatari products to Saudi business community.
The exhibition aims to promote Qatar’s industry sector and encourage the use of Qatari products, while updating the Saudi business community on the latest developments in participating sectors.
It also aims at providing opportunity for exhibitors and manufacturers to meet, while directly introducing Qatari products to the Saudi community, and encouraging Saudi businessmen and women to invest in industrial projects in Qatar.
Aside from opening up new markets for Qatari companies abroad and promote the country’s SME sector, the exhibition is a big chance for many local firms and institutions to exchange experiences and secure business deals with their Saudi counterparts, as well as strengthen Qatar-Saudi economic partnership.
Commenting on the signing ceremony, Mohamed Al Ansari, the company’s general manager, said: “ Our company is always keen on taking part in all editions of the Made in Qatar exhibition”.
We also sought to support this edition in KSA in order to inform the Saudi market about Qatari products and how much these products have been developed, he noted.
It’s our aim to opening new markets for the company in KSA and boosting our cooperation ties with Saudi businessmen and companies.
PROFILE OF QIMC
Qatar Industrial Manufacturing Co., 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 small and medium 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 18 projects in various industries sector including chemicals, petrochemicals, construction materials and food processing. QIMC is also currently investing the economic feasibility of a number of other projects in collaboration with other local and foreign interested parties.
QIMC’s investment strategy is essentially driven by the fundamental principle of investing in economically viable industrial projects that utilize locally/regionally available natural resources/intermediate products. QIMC also views its investment activity in the wider economic development context, and for that reason, it strives to maximize the macroeconomic benefits resulting from its investment activity to the national economy in terms of employment opportunities for the national labor force, transfer of modern technology and contribution to the country’s balance of trade.
QIMC welcome the participation of all investors and technology know-how holders in joint venture in viable small/medium sized projects.