His Excellency Qatar’s Minister of Commerce and Industry and Acting Minister of Finance Ali bin Ahmed Al Kuwari reiterated the keenness of Qatar’s wise leadership to confront corruption in all its forms and to ensure the highest level of transparency, governance and compliance.

This came during HE the Minister’s participation in the Qatar Economic Forum, powered by Bloomberg.

HE Al Kuwari affirmed that all organizations operate to the best standards and Qatar runs in a transparent legal system.

Regarding the economic and financial situation at present, HE Al Kuwari said that Qatar's economic and financial situation is very good and that the budget was managed well.

Despite expectations of a deficit, there was a surplus of QR 200 million recorded in the first quarter, thanks to the recovery of oil prices and the efficiency of spending, HE the Minister stated.

.@BloombergTV's @SimoneFoxman talks with H.E. Ali bin Ahmed al-Kuwari, Minister of Commerce & Industry and Acting Minister of Finance for The State of Qatar. "The country will run in the highest standard of transparency, governance, and compliance." #QatarEconomicForum pic.twitter.com/fVYF0vT4Tx

— Bloomberg Live (@BloombergLive) June 22, 2021

He noted that based on these facts, Qatar will remain in a good position and with the development of oil and gas projects in the next few years, the Qatari economy will be in a better position.

Talking about the future prospects of the Qatari economy, HE Al Kuwari underlined that the country is moving forward in diversifying its economy to a clear strategy, stemming from its National Vision 2030.

Qatar’s policy of economic diversification entails empowering the private sector, attracting foreign direct investment, and facilitating the business environment, HE the Minister highlighted.

He also mentioned that the country is focused on enhancing the business environment and making it highly attractive. Qatar is moving ahead with reforms such as efforts in regulating the labor market, the law regulating the investment of non-Qatari capital in economic activity, a law allowing foreign investors to own real estate, among other reforms, he pointed out.

Main topics of H.E. Mr. Ali bin Ahmed Al Kuwari, Minister of Commerce and Industry and Acting Minister of Finance's participation in a session entitled “At the Heart of Global Trade”, within the framework of #QatarEconomicForum Powered by #Bloomberg #MOCIQATAR pic.twitter.com/BijLnYO0Am

— وزارة التجارة والصناعة (@MOCIQatar) June 22, 2021

With regards to attracting talent under the country’s economic diversification focus, HE the Minister said, in the past years, Qatar has worked on developing infrastructure and construction, attracting a lot of manpower. Economic diversification is underpinned by qualified and skilled labor in established sectors.

He further mentioned that by the time FIFA 2022 World Cup draws to a close, there will be several projects supporting economic diversification in the areas of manufacturing, technology, innovation, food and other sectors and this is an attractive factor for skilled workforce.

The Qatari environment is attractive to workers as it boasts the best infrastructure and legislative systems further enhanced by a strong economy and excellent services, HE the Minister underscored.

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Source: QNA