1,000 Opportunities' initiative launched by MoCI attracts local investors
26 Dec 2022News
The Ministry of Commerce and Industry (MoCI) launched the '1,000 Opportunities' initiative with the aim to create more opportunities for local investors. The initiative has been successful as 713 applicants have applied so far to benefit from the service. This service gives local investors opportunities to invest in major foreign and local companies operating in Qatar.
The initiative launched by the Ministry earlier this year had received 346 applications by August 2022, while 367 more applicants expressed their interest in the service in the last four months, according to data on the Ministry’s website. The 1,000 Opportunities opens new horizons for the private sector and enhances partnership between the public and private sector in Qatar. Some of the companies part of initiative include Match Hospitality, McDonald’s, CCC Contracting, Lulu Hypermarket, Americana, Alshaya Group, Power International and General Electric.
The ‘1,000 Opportunities' initiative offers small and medium-sized enterprises (SMEs) the opportunity to develop their products and services and become more competitive in the Qatari market, as pointed out by QC Chairman Sheikh Khalifa bin Jassim Al Thani said earlier at an event. He said that enhancing the level of competitiveness will be advantageous to stakeholders in the private sector, allowing them to play a larger role in Qatar’s economic activity. He had called upon Qatari investors and businessmen to get acquainted with this vital initiative by visiting the Single Window website to learn about the available opportunities which include all economic sectors.
The initiative would contribute to the localization of supply chains and increase the dependence of local products. The national initiative also contributes to raising the dependence on local products, especially in light of the State’s strong interest in developing the industry sector, reducing dependence on imports, and increasing the efficiency and quality of the national products, which have become more competitive than imported products in terms of price and quality.
This initiative contributes to providing an attractive environment by localising supply chains, increasing the efficiency of service providers, as well as encouraging, localising, and transferring knowledge to the national product.