Innovation, research and development (R&D), as well as investing on local assembly plants are among the key factors that could help spur further activity in Qatar’s growing manufacturing industry, a senior HSBC executive has said.

“Diversification of the economy is one of the main objectives captured in the Qatar National Vision 2030 by moving away from a dependency on oil and gas as the main source of income, and working towards an economy that has a multitude of income sources,” Richard J Keery, head (Commercial Banking) told Gulf Times.

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