Qatar Industrial Manufacturing Company (QIMC) was established in 1990 with 20%:80% government-private equity interests respectively. The establishment of QIMC was in fact a clear manifestation of the particular attention given by the State of Qatar to the issue of the private sector’s participation in the process of the country’s economic development through investing in small and medium scale industries.
QIMC’s initial authorized capital was set at QR 200 million (US $ 55 million), and was fully paid by 2002. In 2006, capital was increased by 50% to QR 300 millions.
QIMC started business in May 1990 only to become within a short period of time one of the pioneering companies in the filed of small and medium scale industries in Qatar. Far from being confined to the State of Qatar, QIMC‘s activities extended to other GCC countries such as Saudi Arabia, Bahrain and Oman.
Currently, QIMC has equity interest in 14 operational projects in various industrial sectors including chemicals, petrochemicals, construction materials and food processing. QIMC is also currently investigating 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/regionally available natural resources/intermediate products. QIMC also 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 labour force, transfer of modern technology and contribution to the country’s balance of trade.
QIMC welcomes the participation of all investors and technology know-how holders in joint ventures in viable small/medium sized projects.