Al-Raya Commends Qatar's Comprehensive Industrial Renaissance

Doha, April 04 (QNA) - In its Monday editorial, Al-Raya daily hailed the comprehensive renaissance that Qatar is witnessing at various levels. The paper noted the country's unprecedented industrial renaissance, as the manufacturing sector has seen a considerable growth within the past five years in terms of the number of facilities and production fields. In this regard, the paper said that Industries Qatar (IQ) and Mesaieed Petrochemical Holding Company (MPHC) approved the award of an Engineering, Procurement, Construction (EPC) contract for a new Polyvinyl Chloride (PVC) plant by its indirect joint venture; Qatar Vinyl Company (QVC), with a total contract value of $239 million (about QR870 million). The volume of industrial investments has increased, with the establishment of more than 380 new industrial facilities, in line with Qatar National Vision 2030 and the State's strategy in the field of manufacturing industry, the paper said, considering that the new plant that will be established in Mesaieed Industrial City is the first of its kind in Qatar, as it aims to position Qatar as a new regional player in PVC production, while reinforcing the downstream value chain. The newspaper noted that the great qualitative leap in the Qatari manufacturing industries is approaching the plan to achieve relative self-sufficiency that would help provide the economy a solid basic foundation for the next stage in planning for the future of the industry. The new PVC plant aims to meet the growing demand in the PVC-consuming industries, such as the construction industry, the paper underlined, noting that PVC produced at the new plant is expected to meet the domestic market demand and provide opportunities to export internationally. PVC as a product, can be handled, stored and shipped safely and seamlessly; and could be coupled with other similar products produced in Qatar to provide opportunities for optimized logistical cost structures, the paper said. Al-Raya concluded its editorial by affirming that the State of Qatar was able to maintain its position as one of the fastest growing economies in the world, with an abundance of investment opportunities in many sectors, noting that this reflects the progressive policies and financial and legislative reforms recently adopted by Qatar, as it launched a number of legislations and implemented many projects in order to support the industrial sector in the country, which has succeeded in recent years in enhancing its economic position and engaging in the global economic space effectively and efficiently. (QNA)