September 13th, 2018
The Qatar Industrial Manufacturing Company “QIMC” is sponsoring the ‘Made in Qatar 2018’ exhibition as a diamond sponsor.
The expo, scheduled to be held between 5 – 9 November 2018, will be organized by Qatar Chamber in cooperation with the Ministry of Energy and Industry and Qatar Development Bank as strategic partner on an area of 10,000 sqm. at the Oman Convention & Exhibition Center (OCEC) in Muscat.
The second edition of ‘Made in Qatar’ to be held outside Qatar is expected to see participation of over 200 companies and factories from Qatar.
The five-day expo aims at exchanging experiences with Omani companies in the industrial sectors as well as at introducing the Omani society to the Qatari product and opening up new foreign markets to Qatari companies in its various large and small industries.
On the sidelines of the expo, a Qatari-Omani business forum will be organised to offer an opportunity for businessmen from both side to discuss means of enhancing cooperation relations and establishing joint ventures for the benefit of both economies.
Qatar Chamber Director General Saleh bin Hamad Al Sharqi and QIMC’s CEO Abdul Rahman Abdulla Al Ansari signed the signed the sponsorship agreement at the chamber’s headquarters recently.
Commenting on the agreement signing, QIMC’s CEO said: “ The company is very keen to provide support to the exhibition from its first edition to help promote Qatari products abroad.”
Al Ansari affirmed that Qatar’s industry sector isn’t affected by the siege imposed on the country for more than one year, noting that it “showed significant growth in light of the wide range of incentives and facilities offered by the Qatari government to support investment climate.”
He praised the strong economic relations between Qatar and Oman, particularly after the launch of a direct marine line between Hamad and Sohar ports which contributed to increasing trade exchange between the two friendly countries.
Oman is a very important trade partner to Qatar. Both countries’ markets are attractive and encourage Qatari and Omani businessmen to further cooperate, he added.
Al Ansari noted that QIMC started business in May 1990 to become within a short period of time one of the pioneering companies in the field of small and medium scale industries in Qatar. QIMC has equity interest in 18 projects in various industries sector including chemicals, petrochemicals, construction materials and food processing.
For his part, Qatar Chamber director general Saleh bin Hamad Al Sharqi said that QMIC’s diamond sponsorship to the event proved the company’s great interest in supporting and developing the national industry. He commended the company’s key role in supporting the industrial sector in the country.
The expo represents a good opportunity for both countries’ companies to explore means of enhancing cooperation. It is a platform for Qatari and Omani businessmen to discuss the investment opportunities galore at all sectors and establish trade alliances that benefit both economies, Al Sharqi added.
He lauded the distinguished relations both countries enjoy, noting that Oman is an important trade partner to Qatar and it topped Qatar’s non-oil export destination.
Qatar Industrial Manufacturing Company 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 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 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.
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