Qatar Chamber has proposed an initiative to establish a ‘Productive Resource Development Fund’ with a UN sponsorship aimed at developing production resources to support least-developed countries towards structural transformation of the economy.
This was announced by Qatar Chamber board member Mohamed bin Ahmed al-Obaidli, who is also the chamber’s Food Security Committee chairperson, during the ‘Agriculture and Rural Development’ session of the LDC5 Private Sector Forum.
During the session, al-Obaidli underscored Qatar Chamber’s readiness to host the fund’s headquarters and facilitate its initial meetings that would discuss its technical, financial, and legal scopes under the UN sponsorship.
He said this may lead to the launch of the fund in Qatar this year. The fund aims to support least developed countries by transferring productive resources and jobs generation.
Al-Obaidli stressed that Qatar has attached special attention to food security, noting that the country’s success in this sector was due to the collective efforts of all stakeholders and the interest in all components of the supply chain.
Underscoring private sector participation, al-Obaidli said it has a major role in this process by providing financing, technology, and the infrastructure necessary for the structural transformation of rural economies, establishing new industries with added value, increasing farmers’ income, and creating jobs.
Qatar Chamber board member Mohamed bin Ahmed al-Obaidli during the panel session.