The Ministry of Commerce and Industry (MoCI) held a workshop yesterday to highlight the reforms undertaken by Qatar to facilitate business environment procedures at the various legislative, organisational, and administrative levels that would enhance the competitiveness of the country’s economy.
The workshop, which was attended by representatives of various business sectors in the country, focused on the systems that have been adopted to develop the business environment according to an integrative perspective, as well as highlighting new reforms and changes in the pipeline.
Nasser al-Taweel, adviser to the Minister of Finance, delivered a presentation on ‘Doing Business in Qatar 2020’, which discussed reforms that the country has witnessed and the facilities it granted to business owners to attract more direct investments and support the private sector.
On the index of obtaining credit as one of the indicators of facilitating the business environment, al-Taweel said a new law would allow companies to mortgage their transferred assets, which would enable them, especially small and medium-sized enterprises (SMEs), to obtain financing from banks, and work to create an electronic record based on electronic notices, managed by Qatar Central Securities Depository.
Al-Taweel said the system also depends on international best practices and will enable the current person to register mortgages online without the need to visit the company concerned. The system will also be available to the public for research.
He also discussed the index of obtaining electricity for companies and facilities witnessed by this sector, such as reducing the number of procedures to only one procedure instead of four and other reforms in this regard so that the investor can obtain the service in a short time.
When introducing the contract enforcement index, he said that a new commercial court specialising in commercial matters is being established with the aim of providing costs and time for litigants and expediting the resolution of disputes, in addition to working to develop a new law on mediation to resolve disputes amicably to motivate parties to resolve their commercial and civil disputes in an amicable manner.
For his part, Bakhit Alabhaq from the General Authority of Customs, gave a presentation on the ‘Al-Nadeeb’ system, stressing that this system “is a leap for Qatari customs” in terms of using the best of what has been achieved using modern technology, whether in hardware, software, systems, and databases.
Sarah al-Obaidly from the Ministry of Commerce and Industry made a presentation on the single window system for establishing companies and its role in facilitating registration and licensing procedures for businesses in she State of Qatar and encouraging domestic and foreign investments.
For his part, Khaled al-Marzouqi from the Ministry of Municipality and Environment gave a presentation on the system of obtaining building permits and facilities provided in this regard.
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
Growing appetite for Shariah-compliant banking, takaful products in Qatar: OBG
Japan eyes new $1.1tn stimulus to combat virus pandemic pain
HKEX CEO calls for confidence in HK’s status as financial hub
Thailand’s parliament urged to pass $60bn virus stimulus bill
Sensex roars back with 995 points gain; rupee falls against the dollar
EU unveils unprecedented post-Covid recovery plan
Legal fraternity in Qatar advocate increased Pro Bono hours to keep businesses afloat
Nakilat assumes full management and operations of Q-Flex LNG carrier Al Kharaitiyat from Shell
Flying: What will the new normal look like?