The country’s manufacturing sector is set to expand its workforce to over 100,000 by 2025.
Qatar’s efforts to promote local manufacturing is expected to help ramp up production value for the sector by some 30 percent in the next few years, a report said.
The number of people employed in the manufacturing sector is expected to grow to over 100,000 by 2025, according to a recent report by Anglo-Dutch multinational KPMG.
“The government’s effort to boost Small and Medium Enterprises (SME) sector manufacturing and the shifting focus towards non-hydrocarbon sector exports is expected to drive the production value for manufacturing sector by 30 percent from 2019 to 2025,” the report, titled ‘Qatar Industrial Landscape 2.0: Resilient and Stronger’ said.
The report also estimated a rise in the number of establishments by 1.2 percent CAGR (compound annual growth rate) to 3,486 from 2019 to 2025.
The Qatar National Manufacturing Strategy 2018-2022 aims to accelerate growth in the sector to develop and diversify the Gulf state’s economy. The comprehensive plan was launched to provide the conditions necessary for a vibrant manufacturing sector through the removal of artificial constraints and the creation of a unique investment proposition for the industry.
The strategy is based on nine enablers that would help redefine the manufacturing landscape in Qatar, and identifies seven manufacturing strategic sub-sectors such as polymers, plastics, aluminium, additive manufacturing, food & beverage, pharmaceutical and extreme environment services.
As per World Economic Outlook October 2020 forecast, Qatar’s nominal GDP is expected to reach QR 697 billion by 2025.