The Ministry of Commerce and Industry and QatarEnergy signed the Terms of Reference for the establishment and implementation of a governance mechanism to allocate hydrocarbon-derived resources to industrial investment opportunities.
The agreement also covers the development of a new medium industries area in Mesaieed Industrial City.
The agreement was signed by Saleh Majid Al Khulaifi, Assistant Undersecretary for Industrial Affairs and Business Development at the Ministry of Commerce and Industry, and Ahmad Saeed Al Amoodi, Executive Vice President for Surface Development and Sustainability at QatarEnergy.
The signing ceremony was held in the presence of HE Minister of Commerce and Industry Sheikh Faisal bin Thani bin Faisal Al Thani and HE Minister of State for Energy Affairs Saad Sherida Al Kaabi, who is also President and CEO of QatarEnergy.
The Terms of Reference set out a framework for evaluating and allocating hydrocarbon-derived resources, natural gas, power, and related natural resources to downstream industrial investment opportunities.
The agreement aims to ensure the optimal use of national resources and increase the added value of the industrial sector by establishing a joint governance framework to evaluate and allocate resources required by qualified industrial investment opportunities.
HE Sheikh Faisal bin Thani bin Faisal Al Thani said the agreement represents a strategic step towards enhancing the competitiveness of Qatar’s industrial sector.
He said the framework will help direct national resources towards value-added industrial investment opportunities, attract quality investments, and support sustainable industrial growth.
Under the agreement, the Ministry of Commerce and Industry will lead efforts to attract industrial investments, engage with investors, and coordinate the industrial ecosystem.
QatarEnergy will provide technical and commercial expertise related to resource allocation and utilisation.
HE Saad Sherida Al Kaabi said the Terms of Reference will support the Ministry of Commerce and Industry’s efforts to develop an expansion in Mesaieed Industrial City to accommodate more medium industries.
He added that QatarEnergy has pledged to supply the expansion with natural gas quantities equal to those dedicated to small and medium industries in Doha’s Industrial Area.
Under the agreement, QatarEnergy and the Ministry of Commerce and Industry will establish a working team to oversee the allocation of hydrocarbon-derived resources for qualifying industrial investment opportunities.
The team may seek support from relevant stakeholders, including the Ministry of Finance, Qatar General Electricity and Water Corporation, Invest Qatar, Qatar Free Zones Authority or other special economic zones representatives, the Ministry of Environment and Climate Change, Qatar Development Bank, and other stakeholders as required.
The initiative forms part of efforts to strengthen Qatar’s industrial investment environment, support economic diversification, and advance sustainable development in line with Qatar National Vision 2030 and the Third National Development Strategy.
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