Latest news with #MoCI
Zawya
22-05-2025
- Business
- Zawya
Qatar Tourism and Partners announce launch of expression of interest for landmark West Bay Waterfront and Al Safliya Island Project
Qatar Tourism, in collaboration with the Public Works Authority (Ashghal), the Ministry of Commerce and Industry (MoCI), and Invest Qatar, has announced the opening of the Expression of Interest (EOI) process for the West Bay Waterfront and Al Safliya Island project. The announcement took place on May 22 during the Qatar Economic Forum, in the presence of senior representatives from all four parties. On the sidelines of the press conference, an agreement was signed between Qatar Tourism, the Public Works Authority (Ashghal), and the Ministry of Commerce and Industry, with the aim of coordinating joint efforts to implement the West Bay Waterfront and Al Safliya Island project. The agreement was signed on behalf of Qatar Tourism by Mr. Omar Al Jaber, Head of Tourism Development Sector, on behalf of the Ministry of Commerce and Industry by Mr. Saleh bin Majid Al-khulaifi, Assistant Undersecretary for Industrial Affairs and Business Development,, and on behalf of the Public Works Authority (Ashghal) by Eng. Mohammed Masoud Al-Mari, Senior Projects Engineering Advisor. This strategic initiative represents a significant milestone in the tendering process for the development and operation of five prime beachfront plots along Doha's iconic West Bay shoreline, as well as Al Safliya Island. The project represents a significant advancement in Qatar's efforts to enhance its tourism infrastructure and broaden its leisure offerings. The EOI process is now open to regional and international developers and operators with a proven track record in delivering large-scale hospitality and leisure projects. The development scope includes the design, construction, financing, operation, and maintenance of the five designated beachfront plots. The project will feature accommodation, food and beverage outlets, and recreational facilities, creating a unified and accessible waterfront destination. H.E. Saad bin Ali Al Kharji, Chairman of Qatar Tourism, stated: 'The West Bay Waterfront and Al Safliya Island project is a strategic initiative that underscores our commitment to expanding Qatar's tourism offering. This announcement reflects the strength of collaboration between public and private sectors in delivering impactful, long-term development outcomes. The project represents a significant step towards creating an integrated coastal destination that connects West Bay's beaches with Al Safliya Island, offering a comprehensive tourism, leisure, and hospitality experience. It will play a key role in supporting economic diversification and enhancing Qatar's position as a leading global tourism destination.' H.E. Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of Commerce and Industry, affirmed that investment in tourism projects is a key pillar of economic diversification, and a vital driver of public-private partnerships aimed at advancing development. Such projects serve as a key catalyst for attracting high-quality investments that contribute to sustainable development and achieve the goals of Qatar National Vision 2030. The West Bay Waterfront and Safliya Island development project, the Minister added, reflects Qatar's commitment to enhancing the investment environment and supporting vital economic sectors, including tourism, hospitality, and entertainment. For his part, H.E. Eng. Mohammed bin Abdulaziz Al-Meer, President of the Public Works Authority "Ashghal," confirmed that the waterfront development project in the West Bay area and Al Safliya Island embodies a distinguished model of constructive cooperation between various government entities, and an effective partnership with the private sector, within the framework of Public-Private Partnership initiative adopted by the state. His Excellency called on all national entities working in the building and construction sector to seize this important strategic opportunity and contribute effectively to the implementation of this ambitious project. His Excellency affirmed that the Public Works Authority "Ashghal" plays a pivotal role in implementing tourism projects by providing integrated infrastructure that is in line with the objectives of tourism projects, while adhering to the highest standards of quality and sustainability, ensuring a balance between urban aesthetics, preserving the environment and natural resources of the country. Sheikh Ali Alwaleed Al-Thani, CEO of Invest Qatar, said: 'Invest Qatar is pleased to support the West Bay Waterfront and Al Safliya Island project, a transformative initiative that will attract significant investment and elevate Qatar's tourism infrastructure. This project is a testament to Qatar's commitment to creating a dynamic and diversified economy by fostering strategic partnerships with world-class developers to contribute to Qatar's growth. We believe this development will not only enhance the visitor experience but also create new opportunities for innovation and sustainable development in the hospitality and leisure sectors.' About Qatar Tourism Qatar Tourism, the regulatory body of the tourism sector in Qatar. Qatar Tourism's mission is to promote and expand tourism in Qatar by cultivating its rich culture, develop thrilling attractions, and luxury experiences. With a clear vision to strengthen Qatar's position as a premier family-tourism destination distinguished by service excellence, to achieve diverse and innovative economic growth. Qatar Tourism will regulate and develop the tourism industry, encouraging investment from the private sector. It set the strategy for the tourism sector, reviewing it periodically and overseeing its implementation, with the aim of diversifying tourism offerings in the country and increasing visitor spend. Qatar Tourism is expanding Qatar's presence globally and enhancing the tourism sector.
Qatar Tribune
20-05-2025
- Business
- Qatar Tribune
MoCI takes part in 'Make it in Emirates Forum 2025', showcases Qatar's vision for regional industrial integration
ABU DHABI: During its participation in the Make it in the Emirates Forum, which kicked off in Abu Dhabi and scheduled to run through May 22, the Ministry of Commerce and Industry (MoCI) discussed the State of Qatar's efforts to bolster regional partnerships and advance sustainable industrial integration across the region. Undersecretary of the Ministry of Commerce and Industry HE Mohammed bin Hassan Al Malki took part in a panel discussion themed 'Integration of Global Supply Chains Amid International Industrial Alliances and Partnerships'. He emphasized that Qatar's National Manufacturing Strategy aligns with the UAE's vision to strengthen regional industrial collaboration, lauding the launch of the 'Industrial Partnership for Sustainable Economic Development' from Abu Dhabi in 2022 as a strategic platform to propel shared development. The partnership was launched with the membership of the UAE, Jordan, Egypt, Bahrain, and Morocco and was broadened with the joining of the State of Qatar and the Republic of Turkiye in early 2025, thereby establishing a collaborative framework to foster industrial integration among participating states and to advance the construction of a resilient and competitive economic landscape anchored in innovation and sustainability. He noted the integrated industrial potential of the member states, stressing the importance of unifying efforts in confronting global challenges and achieving regional leadership in supply chains and advanced manufacturing. This event is not merely a platform to showcase national industrial capabilities, but rather an effective mechanism to forge strategic industrial partnerships, foster innovation, and cement a solid infrastructure that serves the aspirations of the next generations, Al Malki underlined. Al Malki also highlighted two regional industrial ventures that exemplify the spirit of collaboration under the Integrated Industrial Partnership for Sustainable Economic Development. The first is a strategic partnership between Medgulf Construction Company of Qatar and the UAE's Future Pipe Industries, aimed at supplying 28,000 meters of fiberglass pipes for a regional infrastructure project slated for completion in January 2026. The second initiative is a long-term agreement between Qatar Steel and Bahrain Steel, valued at $1.266 billion, to deliver five million metric tons of raw materials over a five-year period, reinforcing the integration of supply chains and ensuring continuity in industrial production across the region. Furthermore, he shed light on the Qatar National Manufacturing Strategy 2024-2030, which seeks to build an industrial future anchored in a resilient and diversified base that contributes to the national objective of achieving a 4 percent annual GDP growth through 2030. The strategy aspires to position the State of Qatar among the world's top 40 countries on the Competitive Industrial Performance Index.
Qatar Tribune
05-05-2025
- Automotive
- Qatar Tribune
Ministry recalls models of Toyota,Genesis and Mercedes vehicles
The Ministry of Commerce and Industry (MoCI), in cooperation with Al Abdulghani Motors, Qatar's official Toyota dealership, has announced a recall of the 2019 Toyota Camry HEV due to the possibility of a fuel pump malfunction, which may cause the vehicle to stop functioning. The MoCI, in cooperation with Skyline Automotive, Qatar's Genesis dealership, has also announced the recall of Genesis GV80, GV70, and G80, 2023-2024 models, as some vehicles may encounter issues with the cluster failing to boot up. In addition, the Ministry, in cooperation with Nasser Bin Khaled and Sons Automobiles, the official Mercedes-Benz dealership in Qatar, has recalled the 2023–2024 models of the Mercedes S-Class, GLC, SL-Class, and GT. The recall is due to a potential issue in the high-voltage starter alternator's control unit in hybrid-drive vehicles, where the processor may suffer from sporadic overload. This could lead to function deactivation and result in an unexpected loss of propulsive power.(TNN)
Zawya
26-03-2025
- Automotive
- Zawya
Qatar: MoCI announces recall of Honda 2022-2024 models
Doha, Qatar: The Ministry of Commerce and Industry (MoCI), in cooperation with DOMASCO- Doha Marketing Services Company, Qatar's Honda dealership, has announced the recall of Honda Civic, CRV, CIVIC TYPE- R, and Z-RV, 2022-2024 models, due to possibility of a decrease in the amount of grease in the mesh gear of the steering gearbox which may cause the steering operation to produce noise or become stuck. The Ministry said it will follow up on the maintenance and repair works. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Arab Times
25-03-2025
- Business
- Arab Times
Violations, penalties classified in money-wash and terror cases
KUWAIT CITY, March 25: Minister of Commerce and Industry (MoCI) Khalifa Al-Ajeel has issued Ministerial Resolution No. 25/2025 on the rules and procedures for the matrix of violations, penalties, and corrective measures applicable to Designated Non-Financial Businesses and Professions (DNFBP) concerning combating money laundering and financing terrorism, reports Al-Anba daily. The resolution classifies violations into three risk categories -- low, medium and high with penalties ranging from a written warning to license suspension or revocation and a fine of KD 500 up to KD 10,000. Resolution Article One states that in implementing this resolution, the definitions provided in Article One of Law No. 106/2013 on Combating Money Laundering and Financing Terrorism will be adopted, along with additional definitions for the three risk levels as follows: 1. Low-risk violations: These are unintentional violations that do not harm an entity's reputation and are minor. 2. Medium-risk violations: These involve moderate reputational damage. 3. High-risk violations: These are serious violations that present a significant risk to reputation, both locally and internationally. Article Two of the resolution specifies that violations are categorized based on the provisions of Law No. 106/2013, its executive regulations and relevant ministerial decisions; depending on the type and severity of the violation. Low-risk violations require the application of precautionary measures as stipulated in Article 15 of the law, including the following: 1. Failure to comply with due diligence procedures for invoices under KD 3,000 due to an unintentional error: the applicable measures and penalties are determined on a case-by-case basis. For fewer than 50 violating invoices, a written warning is issued. If more than 50 invoices are in violation; an order will be issued to enforce compliance with specific procedures, accompanied by a one-month license suspension. 2. Failure to implement an ongoing training program for facility employees on anti-money laundering and counter-terrorism financing requirements: the penalty for this violation starts with a written warning. If the violation is repeated, the penalty will escalate to include the requirement to comply with specific procedures and a one-month license suspension. 3. Failure to submit a transaction based on incomplete or inaccurate documents, without any strong indication of suspicious activity: for violations such as missing payment methods, missing electronic payment receipts or incomplete information on invoices; a written warning will be issued. For repeated violations, compliance with specific procedures will be required, and if the violation occurs a third time, the license will be suspended for three months. 4. Failure to comply with other obligations set by the Ministry of Commerce and Industry and the Kuwait Financial Intelligence Unit: the penalty for this type of violation begins with a written warning; and if repeated, the license will be suspended for three months. For medium-level violations; a fine ranging from KD 500 to KD 3,000 will be imposed as follows: 1. Violation of handling cash exceeding KD 3,000: If the total number of violating invoices is fewer than 50; a fine of KD 1,000 will be imposed on the total invoices. If the total number of violating invoices exceeds 50; a fine of KD 3,000 will be imposed on the total number of violating invoices. 2. Failure to appoint a Kuwaiti compliance auditor: If a Kuwaiti compliance auditor familiar with anti-money laundering (AML) and counterterrorism financing (CTF) laws is not appointed, or if the department is not informed of any updates regarding the auditor's appointment; the following measures will apply: A commitment to appoint the auditor is required. In case of recurrence, a fine of KD 500 will be imposed. 3. Failure to implement due diligence for invoices exceeding KD 3,000: If the total number of invoices is fewer than 50; a fine of KD 1,000 will be imposed. If the total number of invoices exceeds 50; a fine of KD 3,000 will be imposed. 4. Failure to maintain financial records for five years: A fine of KD 1,000 will be imposed for failing to maintain financial records for the required five-year period. 5. Failure to terminate customer relationship when due diligence measures cannot be implemented: If due diligence measures cannot be implemented, the relationship with the customer must be terminated. In case of repeat violation, a fine of KD500 will be imposed. 6. Failure to comply with AML/CTF policies, procedures, systems and internal controls: Non-compliance with the relevant policies, procedures, systems and internal controls, or failure to disseminate them to local and foreign branches (if applicable), will result in: A fine of KD 500. In case of recurrence, the fine will increase to KD 1,000; and the license will be suspended until the violation is corrected. 7. Failure to circulate awareness brochures on AML/CTF to employees: A fine of KD 500 will be imposed for failure to circulate awareness brochures on combating money laundering and terrorist financing to employees. In the case of a repeat violation, the fine will be imposed again. 8. Failure to implement an electronic invoicing system: Using manual invoices instead of implementing an electronic invoicing system will require corrective action. In the case of a repeat violation, a fine of KD 500 will be imposed. 9. Failure to identify the beneficial owner of a purchase transaction: A written warning will be issued for failure to identify the beneficial owner and maintain their ownership structure Violation In the event of a repeat violation, a fine of KD 500 will be imposed. The report identified grave violations, with fines ranging from KD 4,000 to a maximum of KD 10,000 as follows: 1. Failure to notify the Security Council Resolutions Implementation Committee at the Ministry of Foreign Affairs within three working days after refusing service to a customer due to their inclusion on sanctions lists. This violation results in a fine of KD 5,000 and mandatory adherence to specific procedures. In the case of a repeat offense, the offender will be banned from operating in the relevant sector for one year. 2. Failure to establish a system to inform employees about individuals listed on local and international sanctions lists, and non-compliance with directives issued by the Ministry of Foreign Affairs and the Ministry of Commerce and Industry. This breach results in a fine of KD 4,000 and the implementation of specific corrective actions. For repeat violations, a fine of KD 8,000 will be imposed. 3. Providing a service to a person on local and international sanctions lists constitutes a violation. This leads to a fine of KD 8,000 and requires adherence to specific procedures. In the event of a repeat offense, the business license will be revoked. 4. Failure to notify the Kuwait Financial Intelligence Unit within two business days regarding customer data if there is suspicion that funds are linked to money laundering activities; as well as failing to disclose this to the customer. This violation incurs a fine of KD 5,000. For repeat violations, the fine increases to KD 10,000. 5. Failure to implement enhanced due diligence measures on politically exposed persons: If fewer than 50 invoices are in violation; a fine of KD 4,000 will be applied. For more than 50 violating invoices; the fine increases to KD 8,000. 6. Failure to submit a facility risk assessment study results in a fine of KD 500. If the violation recurs; the fine is doubled to KD 1,000.
