Opening wider opportunities to participate in government-led projects will lead to an increase in the private sector’s contribution to Qatar’s GDP, a senior official of Qatar Chamber has said.
According to Qatar Chamber first vice chairman Mohamed bin Towar al-Kuwari, “Now is the right time” for the public-private partnership model, “which is a successful model worldwide.”
“I believe we will see an increase in private sector contribution to Qatar’s GDP in the near future. And it should be because the government and its other agencies are supportive of the private sector taking the lead role,” al-Kuwari told Gulf Times on the sidelines of the recent launching of Qatar Petroleum’s (QP) Localisation Programme for Services and Industries in the Energy Sector, ‘Tawteen’.
Al-Kuwari also stressed that the private sector “is now ready” to manage, invest, and develop projects, such as the Tawteen initiative, which aims to localise the energy sector’s supply chain and expand Qatar’s small and medium-sized enterprise (SME) base.
“I believe in the vision of His Highness the Amir Sheikh Tamim bin Hamad al-Thani to open a wider way for the private sector and involve it in partnership projects with the government. This is the right time,” al-Kuwari stressed.
In a press conference held on the sidelines of Tawteen, HE the Minister of State for Energy Affairs Saad bin Sherida al-Kaabi, who is also president and CEO of QP, underscored the importance of a robust private sector and SME base.
“We are one part of the economy and what we are trying to do is to enhance the private sector and the country’s SMEs from our side and the businesses that we are involved with; that’s a big part of Qatar’s business.
“There are also a lot of other activities that engage other ministries, such as the Ministry of Commerce and Industry or the Qatar Free Zones Authority, and other agencies that are trying to attract businesses, so the objective is for all of us is to collectively grow that sector because a strong economy normally would be served much better by having a strong SME and private sector,” al-Kaabi said.
Al-Kaabi in his opening speech said Tawteen provides local alternatives to exports, with a value between QR8bn and QR9bn a year, which would raise the GDP by about 1.6%.
Also, Tawteen will create 100 new investment opportunities within the energy sector, as well as in-country value policy, which rewards suppliers and contractors who execute their contracts and agreements by maximising local content, he added.