The timely execution of infrastructure projects will drive the market dynamics in Qatar in the years to come, Doha Bank Group CEO R Seetharaman has said.
Seetharaman with other panelists at the seminar
“Major projects are planned for Qatar’s infrastructural development in anticipation of FIFA 2022. Some of the major projects include New Doha Port and Barwa City,” Seetharaman told a recently held seminar on ‘Market Opportunities, Risks and Solutions’.
The high-profile meeting was attended by Qatar Central Bank Governor HE Sheikh Abdulla bin Saud al-Thani; Doha Bank chairman Sheikh Fahad bin Mohamed bin Jabor al-Thani; vice chairman Ahmed Abdul Rahman Yousuf Obaidan Fakhroo; managing director Sheikh Abdul Rehman bin Mohamed bin Jabor al-Thani; and other board members and invited dignitaries.
Qatar’s growth dynamics, Seetharaman said, came amidst an expected drop in global economic growth in 2012 compared to 2011, not yet resolved debt issues in the advanced economies and also the slowdown in emerging economies.
Highlighting the proactive measures taken by the Qatar government to manage the crisis, Seetharaman said “the public private partnership has worked effectively in Qatar during the crisis.”
He elaborated on the financial stability of the world economies, global economic outlook in view of the on-going crisis, policy changes that are required at a macro-economic level and financial/monetary measure to emerge out of the current financial crisis.
Aryam Vazquez, global emerging markets economist, Wells Fargo’s international group, spoke on how infrastructure projects could change the GCC (Gulf Cooperation Council) economies.
“Infrastructure – led activity is serving as driver of regional economic growth. Infrastructure development is a mechanism to strengthen social fabric and will advance diversification and quality of life in the GCC economies,” he said.
Ian C Golt, technical director, construction, Axis International Middle East, spoke on risk identification in insurance and gave insights on risk management, components of risk and various insurable risks. Carl Roberts, senior loss adjuster at Cunningham Lindsey, highlighted the risk matrix, various risk management techniques and key points to be considered in insuring projects.
Ahmad Anani, counsel, Latham & Watkins, spoke on structuring successful joint ventures in Qatar’. He dwelt in detail upon the Qatari legal system and its recognition of unincorporated JVs.