Qatar Economic Forum: CEO of IPA Qatar lauds the Steps Adopted by Qatar to Overcome Covid Impacts
- 4 years ago
HE Chief Executive Officer of the Investment Promotion Agency of Qatar (IPA Qatar) Sheikh Ali bin Al Waleed Al-Thani said that the coronavirus pandemic represented a global challenge and led to a 40% decline in incomes.
In this context, HE Sheikh Ali bin Al Waleed Al-Thani highlighted the steps adopted by the State of Qatar to overcome the crisis, stressing that these steps contributed greatly to overcoming the consequences of the pandemic, and helped the State to achieve a growth in the last quarter of 2020.
Addressing a session titled "Investing Across Borders" held in the frameworks of Qatar Economic Forum, Powered by Bloomberg, HE the CEO of IPA Qatar touched on the investment environment in the State of Qatar, noting that Qatar adopted firm steps to boost its economy, based on diversifying sources of income and resources, ensuring diversification of energy sources, rebuilding local industries and achieving food security.
His Excellency added that the State of Qatar attached great importance to food and logistical security, diversifying supply chains and ensuring water sufficiency.
His Excellency also pointed to the emerging commercial markets in the State of Qatar, indicating that the State has active sectors such as health, technology and cybersecurity, in addition to the sectors related to the FIFA World Cup Qatar 2022, and the investment in media and sports technologies. In this context, he referred to the emerging companies that aspire to expand their activities in Qatar, indicating that the State of Qatar welcomes foreign investors in many sectors, and has a free economic market that accommodates everyone.
With regard to the future of investment in Qatar, HE Sheikh Ali bin Al Waleed Al-Thani highlighted the partnership between the private and public sectors, indicating that this partnership has a significant impact on the Qatari economy.
He noted three main factors that investors are looking for: the current economic situation, the financial tax situation, and the effective governance, adding that the State of Qatar enjoys flexibility in creating partnerships between the private and public sectors, and there are promising future programs such as the education sector and water treatment projects. These programs contribute to creating new promising opportunities for foreign investment and for investors to expand their operations in Qatar and the region.
His Excellency said that the State of Qatar is working to expand investment in infrastructure, especially those related to the 2022 World Cup. He noted that the domestic national product achieved a 3% increase during this year, looking forward to exceeding this percentage, especially with the efforts of economic diversification and direct investments, which play a role significant in achieving this goal.
He added that the State of Qatar has recently amended its legislation and allowed investment in all sectors. The State also established new platforms for licensing and registering companies, referring in this context to Manateq company, which is linked to large investment projects in the infrastructure of warehouses and ports in addition to Hamad International Airport, which contains the largest air cargo warehouses in the region.
HE CEO of IPA Qatar Sheikh Ali bin Al Waleed Al-Thani underlined that the State of Qatar aims at expanding in all fields, mainly in the investment in infrastructure projects. (QNA)
Source: QNA
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