GOIC, QIMC Sign MoU to Promote Industrial Sector

Doha, April 30 (QNA) - The Doha-based Gulf Organization for Industrial Consulting (GOIC) on Tuesday signed a Memorandum of Understanding (MoU) with Qatar Industrial Manufacturing Company (QIMC) at GOIC headquarters in Doha. The event was attended by QIMC CEO Mr. Abdul-Rahman Al-Ansari, who headed his company's delegation, in addition to GOIC Secretary General Mr. Abdulaziz bin Hamad Al-Ageel and a number of GOIC senior officials. The MoU paves the way for future contracts in areas of common interest in accordance with terms and conditions to be defined later on with the consent of both parties, GOIC said in a press release on Tuesday. "This MoU consolidates the continuous cooperation between GOIC and QIMC that started years ago. It highlights the solid relationship between both parties and lays the groundwork for partnerships that promote the industrial sector in Qatar and the Gulf region," said Al-Ageel. For his part, Al-Ansari said: "This MoU establishes a framework facilitating cooperation and coordination between both parties, serious negotiations aiming at signing separate contracts in specific fields and partnerships and joint taskforces promoting industrial projects, particularly in the area of technical cooperation for the study of small and medium industrial investment projects suggested by both parties." In order to accomplish these objectives, both parties will work to build the capacities of the staff working in the exports department of the Company to put together an export marketing plan and other services aiming at developing exports and service providers. GOIC and QIMC will also endeavor to prepare economically feasible industrial investment opportunities in different industrial sectors. Furthermore, they will carry out a technical assessment of the small and medium enterprises (SMEs) encompassing these industrial facilities, services and operations in order to cut the cost by improving energy efficiency. The two sides also aim at boosting productivity, reducing waste, fighting pollution and preserving the environment by preparing reports tackling these issues. Moreover, both parties will work to create an environment that is suitable for contracting and cooperation between owners of big projects and small and medium projects through bilateral agreements between procurers and providers under the Gulf Subcontracting and Partnership Exchange Program (GSPX). They will build capacities of individuals and groups of employees working in the industrial sector through the Training and Capacity Development Program (TCD) and by providing accurate and accredited industrial, economic and social data in GCC countries and Yemen via the Industrial Market Intelligence Plus Portal (IMI+). Doha-based GOIC is a regional organization that brings together GCC states and Yemen. It is an advisory knowledge-based institution aiming at developing regional industries by providing data, information, specialized researches, consultations and technical services for the public and private sectors in GCC countries. It is considered one of the top industrial consultations expertise hubs boosting industrial development in the region as it seeks industrial integration and coordination between Member States and endeavors to shape a regional industrial policy. QIMC was established in 1990 with the aim of giving the private sector bigger role in the country's economic development through investing in small and medium scale industries. Currently, QIMC has equity interest in 16 operational projects in various industries sector including chemicals, petrochemicals, construction materials and food processing. It is also currently investing the economic feasibility of a number of other projects in collaboration with other local and foreign interested parties. QIMC's investment strategy is essentially driven by the fundamental principle of investing in economically viable industrial projects that utilize locally and regionally available natural resources/intermediate products. It 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. (END)