Commercial rules and regulations are in need of more effective implementation and reforms if Qatar’s SMEs are to be properly supported, an expert has told Gulf Times. Mohamed bin Ahmed al-Obaidly, secretary general–Business Council and board member of the Qatar Chamber of Commerce, said Qatar needs a private sector capable of executing the projects that will be coming along in the next 10 years. The coming development boom will require a “mature” private sector, capable of large, sophisticated endeavours. Al-Obaidly believes Qatar’s private sector can benefit from proper implementation of commercial rules and regulations, which are also in need of reform. He said one issue that is hindering the development of Qatar’s SMEs is international companies coming to Qatar just to work on one project and leaving with their profits. Al-Obaidly said that this is “destroying the economy – it is not sustainable,” as it leaves behind no local company capable of performing those services. “We need long-term, real joint-ventures, so even if they leave, the local company will still exist.”Qatar also needs to find a way to reduce expenses to allow SMEs to operate and compete against larger companies, whether domestic or international. Al-Obaidly said that these efforts should cover things like office space, accommodation, access to banks or other commercial requirements.He said that all major stakeholders must come together to determine a definition for SMEs, and that a workshop should be held for this purpose, and to identify where SMEs fit in the economy in a manner that is customised to Qatar. SMEs account for 4-5% of Qatar’s GDP, which is significantly less than European countries, for example, and so different strategies are required.