Crisis or no crisis, Qatar has managed to attract mega money as investments into its manufacturing sector.

Qatar’s Minister of Energy and Industry HE Dr Mohamed bin Saleh Al Sada said that the country had witnessed about QR260bn worth of investments despite the ongoing crisis in the region, reported Gulf Times.

“A total of 730 industrial facilities have been registered with the ministry. Qatar is putting a lot of efforts to realise the directives of the wise leadership in achieving a balanced and sustainable industrial development,” Al Sada was quoted as saying by Qatar Tribune.

Al Sada was speaking on the sidelines of ‘Made In Qatar 2017,’ organised by the Qatar Chamber.

A later report said that the country’s manufacturing sector had witnessed a 1.2% expansion year-on-year during the second quarter of this year against Qatar’s real (inflation-adjusted) GDP growth of 0.6% year-on-year in the same period.

Al Sada also spoke about Qatar’s efforts to provide incentives for industries such as fee exemption on equipment, raw materials, and parts in a bid to encourage local industry and small and medium enterprises.

“The manufacturing sector become one of the most attractive investment opportunities in Qatar following the new legislation which facilitated the process and provided investors with many incentives,” he said.

He had earlier said that the number of factories entering the production stage doubled during the past six months, hinting at the futile attempt by the siege countries to destabilise Qatar’s economic front.