CHAIRMAN: DR. KHALID BIN THANI AL THANI
EDITOR-IN-CHIEF: DR. KHALID MUBARAK AL-SHAFI

Business / Qatar Business

Over 21,000 new firms established after blockade: QC

Published: 19 Nov 2018 - 12:00 am | Last Updated: 10 Nov 2021 - 03:34 am
Peninsula

The Peninsula

DOHA: Defying the impact of the ongoing siege, Qatar has emerged as an attractive destination for local as well as foreign investors. Since the beginning of the siege until the end of August 2018, over 21,000 new companies were established in Qatar, which is evident about the vibrant economic environment of the Qatari economy, noted a top official of Qatar Chamber, yesterday.

Sheikh Khalifa bin Jassim Al Thani (pictured), the Chairman of Qatar Chamber (QC), in an interview with QNA, stressed that this huge number of companies registered in that limited period confirms the attractive investment climate in Qatar which was not affected by the unjust siege imposed on the country.

The QC Chairman praised Qatar’s flexible and multifaceted economic strategy, which is in line with the Qatar National Vision 2030, making the country achieved significant economic development over the past years, he said, noting the growth of the oil and non-oil sectors, where the contribution of the private sector to the GDP has increased significantly, especially with support given by the wise leadership and the distinguished government to this sector.

Sheikh Khalifa added that the wise leadership was keen on the need for the private sector to play a greater role in economic development and to pave the way for its participation in the State’s projects, therefore the government issued a number of decisions to support the private sector, pointing out that such decisions represented a push for business owners to work harder to promote and improve the national industry.

He also stressed that the private sector has succeeded in taking a prominent position in the Qatari economy, especially during the siege, taking advantage of the government initiatives that have paved the way for it to be a true partner in the economic growth.

He underlined that the private sector played a leading role during the past period and helped to provide all products, raise production, open up new channels of communication with foreign markets and launch thousands of companies and factories that have helped overcome any possible negative impact by the siege on the economy.

Regarding the most needy sectors that require more of the private sector attention, QC Chairman said that sectors such as agriculture, tourism, education, food and pharmaceutical industries still need more private investment, stressing that QC encourages businessmen to invest in these sectors through discussions with trade delegations, and by inviting Qatari companies to attend those discussions.