Qatar showcases investment growth at Bloomberg New Economy Forum
The State of Qatar participated in the eighth edition of the Bloomberg New Economy Forum, which will be hosted in the Indian capital New Delhi from October 13 to 15.
The State of Qatar was represented by HE Minister of Commerce and Industry Sheikh Faisal bin Thani bin Faisal Al Thani at the forum, which was held in the presence of the Prime Minister of the Republic of India, a number of heads of state, government and ministers, and with the participation of more than 500 leaders of the public and private sectors from around the world.
During a session at the forum that discussed the role of governments in creating an environment that supports the growth of the private sector, enhancing the resilience of economies and their ability to attract investments, in light of the transformations witnessed by the global economy, His Excellency the Minister of Commerce and Industry said: "The strength of Qatar's economic fundamentals, the supportive regulatory environment, sound fiscal policies, and continuous investment in infrastructure are key elements to attract investments and enhance investor confidence."
Speaking about dealing with regional challenges, His Excellency explained that the State of Qatar has continued to find the necessary solutions to secure its needs and maintain the movement of goods to and from the country, despite the impact of the oil and gas sector, pointing out that the strategic food stockpile has increased by 40% since the beginning of the crisis.
Investors are able to distinguish between temporary disruptions and structural challenges, he said, citing the registration of more than 5,000 foreign-owned companies in Doha over the past three months, as well as foreign investment inflows into the capital markets during the same period.
With regard to the development of the business environment, His Excellency stressed the importance of listening to the needs of the private sector and responding quickly to regulatory obstacles, pointing to efforts to simplify procedures and work on a law that expands the scope of foreign ownership in most sectors.
In his capacity as Chairman of the Advisory Board of the House of Companies, His Excellency referred to its role as a unified center that facilitates the procedures of registration, licensing, and services related to taxation, immigration and labor affairs in economic zones.
In the context of enhancing the role of the private sector in economic growth, His Excellency stressed the importance of clear regulatory frameworks for partnership with the public sector, and touched on its role as an active local partner for international investors wishing to enter the Qatari market, in order to support the growth of the private sector and enhance its role in leading projects.
He pointed to the opportunities for the private sector's participation in the education, healthcare and industrial sectors, in line with the priorities of the National Development Strategy, in addition to opportunities to make some non-strategic assets available to it, which contributes to deepening capital markets.
Speaking about the promising sectors, His Excellency addressed the opportunities for the development of data centers, explaining that the growing importance of data sovereignty and storage within countries supports the expansion of this sector globally, while the abundance of energy gives Qatar an advantage in its development.
At the global level, HE Al Tayer pointed out that the interdependence between economies makes it difficult to return to lockdown, in light of the interdependence that binds countries and markets.
The participation of His Excellency Sheikh Faisal bin Thani bin Faisal Al Thani, Minister of Commerce and Industry, in the forum comes within the framework of efforts to expand international economic partnerships, introduce investment opportunities in the State of Qatar, and enhance communication with international companies and financial institutions, in order to support attracting quality investments, developing the private sector, developing value-added economic activities, and enhancing the competitiveness of the national economy, in line with the goals of economic diversification and the Qatar National Vision 2030. This year's forum, held under the theme "A World Shifting Balances: Identifying New Instruments of Power", will examine the impact of geopolitical shifts, technological advances and supply chain evolution on trade and capital flows, as well as issues of energy, critical minerals and payment systems, and their relevance.Opportunities and challenges for governments, companies, and investors.
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