Al-Kuwari upbeat about Qatar's economic diversification

HE the Minister of Finance Ali bin Ahmed al-Kuwari participated in the session titled "Gulf Economies" organised on the sidelines of the World Economic Forum Davos 2024 from January 15-19.
The discussion centred on identify how can Gulf countries transform their economies by making them more competitive, digital and green, without crowding out the private sector, particularly against the backdrop of the global economic slowdown and the fact that 2024 is expected to be a year of higher economic growth for the Arab countries in the Gulf, fuelled in part by strong public investment programmes and windfall oil profits accruing to their sovereign wealth funds.
HE the Minister of Finance talked about Qatar's continued endeavours to achieve the National Vision 2030 through the implementation of medium-term strategies for the remaining years until 2030.
He said: "The next phase of the Third National Development Strategy will focus on economic diversification and include improving the business regulatory environments, supporting the private sector, and attracting foreign investment, in addition to focusing on tourism and logistics services and enhancing competition."
HE the Minister of Finance also said: "Economic diversification is still important, and Qatar has been working to make the business environment more competitive, build world-class infrastructure and develop new sectors, including in our free zones."
He also elaborated on Qatar's commitment to supporting development, whether bilaterally or multilateral. All countries in the region are actively implementing diversification plans, including public investments that are driving strong growth, and we see this as mutually beneficial as the Gulf also becomes more economically integrated.