Qatar is working to build a vibrant sustainable economy for the future generations. The country’s efforts to move in the path vibrant sustainable economy was highlighted by Minister of Commerce and Industry, H E Ali bin Ahmed Al Kuwari, recently during a discussion at the World Economic Forum (WEF).
H E the Minister said that Qatar is among the few early adaptors of new economic models and policies and already working to build a vibrant sustainable economy for the future generations. Qatar has accelerated the process of economic diversification which is in line with the country’s longterm development goals, which include developing infrastructure and logistic services to become a regional trade and investment hub.
Qatar is moving forward in the implementation of its major development plans. This has consolidated its position as one of the most stable and competitive economies. Many global organisations have confirmed the strength of Qatar’s solid economy. The World Bank has noted in its report that Qatari economy to expected to rise 3.4 percent by 2021 driven by higher service sector growth as the FIFA World Cup 2022 gets nearer, compared with a growth rate of 1.43 percent in 2018.
This year’s WEF edition brought together more than 250 political leaders from G20 group among other countries, along with the heads of a number of international organisations, business leaders, politicians, ministers, academics, technology pioneers, representatives of civil society organisations and cultural leaders. This forum was held under the theme “Stakeholders for a Cohesive and Sustainable World” and focused on global, regional and national initiatives that have a positive impact on all stakeholders. The WEF, founded in 1971 in Geneva, Switzerland, is an independent international non-profit organisation with a mission to promote global development. Each year, the WEF brings together a large number of heads of state and government, senior officials and influential businessmen in the global economy.
The annual meeting aims to provide a platform for dialogue and the exchange of ideas among participants, presenting opportunity to strengthen bilateral relations between various countries and international companies. Qatar’s support to the private sector in line with its belief in the key role it plays in enhancing the competitiveness and diversity of the national economy. The State is keen to accelerate the implementation of measures to support this sector, through the launch of partnership projects with the public sector and the establishment of incentive programs to attract foreign direct investment.
