The much anticipated fourth edition of the Qatar Economic Forum (QEF), powered by Bloomberg, was opened yesterday by the Amir H H Sheikh Tamim bin Hamad Al Thani. The forum discusses and brainstorms the critical challenges the global economy faces, making it relevant to political and business leaders worldwide.
QEF convenes heads of state, CEOs and global investors fostering high-level discussions and potential collaboration making it an important and exclusive event which discusses the current economic climate and future actions and policy decisions. Under the theme, ‘A World Remade: Navigating the Year of Uncertainty’, the forum’s discussions centre around five key areas; Geopolitics, Globalization & Trade, The Energy Transition, Technology Innovation, Business & Investment Outlook and Sports & Entertainment.
Addressing the forum yesterday Prime Minister and Minister of Foreign Affairs H E Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani highlighted Qatar’s perspective on navigating global uncertainty. He pointed out that the Qatari economy continues to demonstrate stability and prosperity, with the gross domestic product at constant prices growing by about 1.6 percent through the third quarter of 2023. This growth aligns with improvements in financial stability indicators. Qatar is progressing towards the final stages of Qatar National Vision 2030, with ongoing efforts to enhance and complete its diverse economic infrastructure. Qatar is positioning itself to rank among the top 10 countries globally in terms of business environment.
Qatar has been transitioning towards comprehensive digital transformation through increased investment in technology, innovation and artificial intelligence. Qatar has allocated a substantial package of incentives worth QR9bn, and the country is hosting several sessions of the “Web Summit” conference for the first time in the Middle East and Africa.
At the forum, H E the Prime Minister announced the launch of the “Al Fanar” Arabic Artificial Intelligence project. This ambitious programme will primarily focus on collecting quality data in the Arabic language, contributing to enriching large linguistic models and preserving the Arab identity. The forum during its discussions will also delve into the geopolitical risks and their impact on global trade and investment, strategies for economic diversification and the role of technology and innovation in driving future growth.
The forum emphasises the importance of creating a more inclusive world post-pandemic, addressing social and economic fissures, and proposing solutions to ensure equitable growth and development. As the Prime Minister said in his speech, “In Qatar Everyone is determined to bring about change to establish a better future, looking forward to seeing new investment opportunities through the platform of this forum.”
