Qatar Chamber is supporting the country’s strategy for economic diversification, according to its chairman, Sheikh Khalifa bin Jassim al-Thani, who lauded the government for protecting Qatar’s economy and its people at the height of the Covid-19 pandemic.
Sheikh Khalifa made the statement in praise of His Highness the Amir Sheikh Tamim bin Hamad al-Thani’s speech at the Shura Council’s 49th ordinary session held yesterday.
In his speech, His Highness the Amir addressed critical political and economic issues affecting the local, regional, and international landscape, as well as how Qatar addressed the challenges of the health crisis and its economic repercussions.
Sheikh Khalifa praised His Highness the Amir for prioritising the health of citizens and residents of Qatar, as well as maintaining a robust and resilient national economy during the Covid-19 outbreak.
“Qatar succeeded in overcoming these challenges thanks to the directives of His Highness the Amir Sheikh Tamim bin Hamad al-Thani, and the use of a carefully-studied method of partial, interim closures, and the utmost readiness to treat those infected by the coronavirus,” Sheikh Khalifa said.
He also lauded the Amir’s directive to allot a QR75bn stimulus package to support Qatar’s private sector during the contagion.
“The financial incentive gave a great impetus to the private sector and enabled it to withstand the economic repercussions of the pandemic. This package included support for liquidity at commercial banks, support for the stock exchange, and the guarantees programme from Qatar Development Bank to help companies pay salaries and rents, and a number of facilities and customs exemptions on food and medicine, electricity fees and other services. These measures had a positive impact in maintaining the strength of the economy,” Sheikh Khalifa explained.
He also praised the Amir’s emphasis on the need to accelerate economic diversification through less dependence on oil and gas revenues. “Qatar Chamber supports this move, and it is working hard to encourage businessmen to enter into new projects and investment sectors that contribute to economic diversification and localisation of products, as well as the establishment of industrial projects that depend on modern technology.
“To achieve this, Qatar Chamber continuously organises exhibitions, conferences, and foreign visits for business owners, as well as seminars that contribute to introducing Qatar’s business climate and by introducing Qatari investors to opportunities available abroad,” Sheikh Khalifa said.
He also welcomed His Highness the Amir’s announcement that Qatar’s general budget will continue to be focused on health, education, and infrastructure projects, which reflects the country’s progress in achieving comprehensive development in accordance with Qatar National Vision 2030.