Doha: In a big boost to the country’s emerging Small and Medium Enterprises (SMEs), the Ministry of Commerce and Industry (MOCI), in cooperation with Qatar development Bank, yesterday announced the launch of an innovative “Land and Industrial Loan” initiative. Launched under the guidance of H E Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani, Prime Minister and Interior Minister, the initiative is in the context of the State’s ongoing efforts to improve the ease of doing business in Qatar and to bolster the investment environment for owners of small and medium enterprises and entrepreneurs.
The initiative will enable investors to apply through the Single Window platform of the Ministry of Commerce and Industry to secure industrial licenses and land plots in the small and medium industrial area and to complete financing procedures through the same application.
The initiative aims to provide support for Qatari investors and encourage entrepreneurs and small and medium-sized companies to easily invest in the industrial sector in a relatively short time by enabling investors to apply through a single platform, namely the Single Window Services, the Ministry said in a statement.
The statement noted the Ministry of Commerce and Industry is working on securing industrial lands of various sizes for investors in the industrial sector to undertake promising projects that add value to the local economy. Qatar Development Bank is playing a role in financing feasible industrial projects that add value to the national economy.
While the Ministry of Commerce and Industry is seeking to meet all requirements for promising industrial projects, Qatar Development Bank is focused on providing financing for industrial projects.
On the registration process, the Ministry explained that investors must fill out and submit the application electronically through the Single Window Services website on singlewindow.gov.qa. Investors must also provide all the required documents (a complete feasibility study - the engineering plan - a copy of the audited financial accounts) and any other documents that may be requested during the application review period.
After submitting the application and the required documents, a technical team from the Ministry and Qatar Development Bank will review the application. The Land Commission will also review the application.
The initiative falls within the framework of joint efforts to promote startups, encourage promising small and medium-sized enterprises to engage in industrial activities in various sectors, stimulate manufacturing industries, improve services offered to investors and bolster Qatar’s economy in line with the Qatar National Vision 2030.
