The government is working to strengthen the role of the non-oil sector in the economic activity of the country, HE the Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa al-Thani has said.
Speaking at the consultative meeting held on Monday evening with businessmen and Qatar Chamber of Commerce and Industry at the Ritz-Carlton Hotel, the Prime Minister said that the Government was working to strengthen the role of the non-oil sector in economic activity, through a set of guidelines and procedures to support the private sector, focusing on specific priorities in the State budget. The guidelines and procedures also focus on investment in infrastructure projects for requirements of growth in non-oil sector, in addition to investing in projects related to the football World Cup 2022, which will support the growth of the private sector.
He also explained that various ministries and government departments had been instructed to review all processes, systems and procedures which have an impact on business development, and strengthening national and foreign investments in the State, in order to reduce the obstacles and difficulties, as well as review the legislative and legal framework for business and economic development in the State.
He added that the Ministers had been tasked with conducting a study to determine land requirements, over the next five years, and meet the needs of the society and economy.
The Minister noted that the substantial decline in oil prices in recent weeks poses a significant challenge for the economy of Qatar, as well as the neighbouring countries, despite the country’s economy which is solid, and can handle the big changes that may strain the economies of other countries.
“We must recognise that the high volatility of oil prices is a constant warning to the importance of achieving greater diversification of the economy, and the importance of the role of the private sector, and focus on Qatar’s economy competitiveness and its ability to attract more domestic and international investments,” he said.
The Prime Minister said the government is seriously committed to the Qatar National Vision 2030, and is working to maximise the financial returns to Qatar including natural wealth, local and foreign investment as well as maintaining good governance, sustainable development and effective accountability.
He also noted that the government is keen to make good use of the national youth and potential human resources in Qatar by integrating them into production and development system.