Doha: Qatar’s non-oil sector is forecast to grow by 2.8 percent to 4.7 percent this year, based on expectations on the business boom resulting from the hosting of the FIFA World Cup Qatar 2022, Qatar Chamber’s (QC) Chairman Sheikh Khalifa bin Jassim bin Mohammed Al Thani (pictured) has said.
Speaking to QNA, Sheikh Khalifa noted that non-oil private sector activities achieved an average growth of about 2.9 percent during the first nine months of 2021, supported by the growth of the manufacturing, transport and trade sectors. Manufacturing industries alone represent 8 percent of the country’s real GDP, he added.
Sheikh Khalifa highlighted the private sector’s growing contribution to Qatar’s GDP over the past several years. This is evidenced by the volume of its exports, which according to the certificates of origin issued by the QC during the first 10 months of 2021 amounted to about QR23.2bn, showing an increase of over 88 percent compared to the same period in 2020, when it reached QR12.3bn.
He stressed that the partnership between the public and private sectors, which was reinforced by the Partnership Law issued two years ago, directly contributes to increasing the contribution of the private sector to the GDP. Other laws issued between 2018 and 2019 also contributed to enhancing the role of the private sector, such as the law on non-Qatari ownership and use of real estate, and the law on investing non-Qatari capital in economic activity.
Sheikh Khalifa also reiterated the private sector’s competitiveness, and said that the Qatari market is witnessing great openness, and the ability of companies and industrial institutions to compete is a matter that requires a lot of effort, perseverance and investments.
He noted the importance of efforts to support the competitiveness of the national product in a way that it does not result in monopolistic practices, especially in the presence of the competition protection committee and the prevention of monopolistic practices in Qatar.
He added that the private sector has proven its competitiveness and achieved great successes in various industries, with Qatari private sector exports having reached many markets around the world.
The manufacturing sector was considered one of the leading industries of the private sector, especially with the existing law to support the competitiveness of national products, Sheikh Khalifa said. This was followed by the services sector, trade and industry, as well as the building and construction sector, with a noticeable interest in the field of agriculture and food, within the framework of the State’s keenness to enhance food security.
He also reiterated the important role played by the Made in Qatar exhibitions organised by the QC in promoting Qatari products outside the country. As many as four editions of the expo have already been conducted in Qatar from 2009 to 2015.
