Qatar aims for a diversified, prosperous economy: PM

HE the Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman bin Jassim al-Thani said that Qatar aspires to a diversified and prosperous economy based on knowledge and innovation, emulating the technological revolution, and characterized by flexibility and adaptability.

In his opening remarks at the fifth Qatar Economic Forum (QEF), Powered by Bloomberg, which took place Tuesday under the theme 'The Road to 2030: Transforming the Global Economy', HE Sheikh Mohammed remarked that Qatar aspires to be a beacon of technological progress and a global center for investment and business, built on trust and to always remain a reliable partner, whether in energy or investment, as well as in diplomacy.

He added that efforts are underway to translate this vision into a tangible reality by diversifying foreign investments to enhance strategic balance and support the development of a long-term, sustainable economy.

In this context, HE Sheikh Mohammed noted that the Qatar Investment Authority continues to implement its vision through long-term strategic partnerships around the world, continuing this year with significant investments from the US to Africa and China, pointing out that these initiatives reflect the firm confidence in the dynamism of markets, particularly emerging ones, and their future potential.

On the domestic front, he explained that the Qatari economy continued its positive performance, recording real growth of 2.4 % in 2024, bringing the GDP to QR 713 bn.

HE Sheikh Mohammed remarked that the growth is driven by significant progress in non-oil sectors, which expanded by 3.4 % annually, an indication of steady advancement toward the objectives of the Third National Development Strategy.

He emphasized that Qatar, to keep pace with this momentum, continues to develop its legislative and administrative framework, making Qatar's business environment more efficient and attractive to investors.

In this context, HE Sheikh Mohammed announced the launch of the first package of incentives for all investors, that targets strategic sectors including advanced manufacturing, modern technology, and logistics services. He stated that this package represents a qualitative step towards promoting growth within sectors that constitute a fundamental pillar of the future of the national economy.

HE Sheikh Mohammed noted that, in addition to industrial expansion, this year witnessed the launch of the Simaisma Project, one of the largest entertainment projects in the region. It is also a major driver of the real estate and tourism sectors and an effective engine for integrated development.

In the field of innovation and digital transformation, he said that Qatar has established its position as an emerging technology hub. He pointed out in this context Doha's hosting of the second edition of the Web Summit in February 2025, which attracted over 25,000 participants from 124 countries.

HE Sheikh Mohammed affirmed that the summit succeeded in creating exceptional communication between emerging technology centers in Asia and Africa on the one hand, and major international companies and sovereign funds on the other, reinforcing Qatar's role as a global hub for digital intersection.

Confirming this trend, he added that Qatar recently won the bid to host the Mobile World Congress (MWC) for five years, with the first edition scheduled for November. This move firmly positions Qatar on the map of the global digital economy.

His Excellency revealed that to cope with this evolution, along with the effective participation in this event, Qatar is poised to launch a new project that aspires to international prominence and will be unveiled later this year.

These milestones collectively manifest Qatar's commitment to leveraging its standing as a global economic and investment hub, as well as its seriousness in building a future based on diversity, innovation, and sustainability, he underlined.

Qatar is steadfast in its pursuit to entrench its role in shaping a more balanced global economy, one that elevates partnership and places the human being at the core of development, expressing Qatar's aspiration to serve as a platform where ideas converge and interests intersect within an environment underpinned by peace and investment, he said.

Additionally, he called for a comprehensive approach that weaves together security, development, diplomacy, and growth, anchoring human dignity at the heart of the prosperity equation.

Welcoming the participants at the forum, His Excellency noted that Qatar has emerged as a premier destination for global forums and dynamic diplomacy, and a hub where decision-makers and thought leaders converge to build bridges of dialogue and collaboration.

He emphasized that this year's convention comes amid profound political and economic realignments, underscoring the urgent need for platforms of dialogue that convene policymakers, entrepreneurs, pioneering innovators, and intellectual leaders, with a view to charting forthcoming investment opportunities and articulating a collective posture toward the exigent challenges they collectively confront, chief among them international stability and sustainable growth.

His Excellency delved further into the unprecedented humanitarian catastrophe in Gaza, stressing that notwithstanding Qatar's efforts side by side with its partners in the sisterly Arab Republic of Egypt and the US to put an end to this tragic war, regrettably, de-escalation opportunities continue, time and again, to be squandered.

Following the release of the Israeli-American soldier Edan Alexander, it was initially presumed that the moment would herald a window for halting the ongoing tragedy; however, the response came in the form of an intensified wave of bombardment that decimated scores of innocent civilians. This reckless, gratuitously aggressive behavior undermines every viable prospect for peace, he noted.

HE Sheikh Mohammed underscored that, notwithstanding these circumstances, Qatar remains unflaggingly committed to continuing its diplomatic efforts in coordination with its partners until this war is brought to an end, all hostages and detainees are released, the anguish of people in Gaza is mitigated, and the region is steered away from the perpetual shadow of imminent danger.

With regard to the Syrian issue, he affirmed that the US decision to lift sanctions on this brotherly country constitutes a significant step in the right direction, adding that Qatar looks forward to seeing similar measures follow, as this stands as a clear message to the region and the world that the priority must be to afford nations emerging from conflict a genuine and full opportunity to build a better future.

HE Sheikh Mohammed affirmed that political stability and economic prosperity are inextricably linked, and that neither can be attained in isolation from the other, stressing that it is from this conviction that Qatar pursues an active diplomatic policy grounded in principled mediation and constructive engagement to resolve conflicts, fully recognizing that peace is the cornerstone of any sustainable development.

He went on to say that Qatar regards every diplomatic endeavor it undertakes as an investment in a future that is more prosperous and secure.

When a young man in Gaza is seen completing his education, or a Syrian family returning to their home after displacement, it becomes evident how profoundly stability affects the lives of people and the vitality of their economies, he pointed out.

Finally, HE Sheikh Mohammed wished that the forum's constructive deliberations would come to fruition, expressing his aspiration for meaningful and productive dialogue throughout the sessions, as well as for new economic partnerships that would further advance the course of sustainable development across the region and the world.