Qatar continues to enhance status as trusted international partner, source of energy: PM

Prime Minister and Minister of Foreign Affairs HE Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani has affirmed that Qatar is continuing to strengthen its position as a reliable international partner, source of energy, and destination for investments and tourism, in order to achieve its National Vision 2030, the most important of which is the transition to a diversified and innovative economy.

In a speech during the opening session of the third edition of the Qatar Economic Forum, the PM said this approach requires everyone to plan, be flexible, responsive, and show perseverance, especially after Qatar presented the best version of the FIFA World Cup on all levels, and for the first time in an Arab country.

He added that moving forward will require learning lessons from the past, highlighting that this approach was a strategic choice the State of Qatar follows nationally and developmentally.

The PM highlighted that the resilience of the Qatari economy despite international crises, and the strength of the health system during the pandemic (COVID-19), and the role the country plays in the global energy market are not by chance, but were a result of a wise vision from the leadership, years of planning, and belief in the country’s human capital of citizens and residents and providing them with the necessary capabilities to unleash their abilities to the benefit of diversifying the economy and the advancement of the country.

He noted that the policies and projects adopted by Qatar over the past two decades have contributed to the establishment of a strong, stable and solid infrastructure in a strategic location that combines the East and West. It is home to the best airport and best airlines in the world, one of the largest green ports in the world, and the first super speed 5G network commercially available, with one of the most flexible and adaptive sovereign funds.

The PM said that the non-oil sector in Qatar achieved a growth of 9.9 percent, and the oil sector recorded an increase of 4.8 percent in the fourth quarter of 2022, and that Qatari efforts led to the establishment of strong financial institutions and the creation of the foundations for a work environment that encourages the growth of business, and the increase in the volume of domestic and foreign investment significantly.

In terms of diversification in the field of energy, the country inaugurated the first solar power station in Qatar. This station is set to provide about 10% of the energy used in the national electricity grid at peak times. His Excellency stressed that Qatar has been keen to ensure energy supplies and the stability of its global market in light of international crises, due to its international responsibility in that regard He also highlighted the country’s interest in promoting the important role of Small and Medium Enterprises in achieving prosperity, noting that the country constantly works on launching initiatives to support these companies with the aim of enhancing entrepreneurship.

In this context, he said that Qatar Investment Authority contributes significantly to achieving economic stability for future generations, and to work with the private sector to bridge the gaps in the local market, by investing in companies and sectors that support Qatari local industries and contribute to their transfer to global markets, while also seeking to attract high-quality investments that supports the community locally and internationally.

He explained that these achievements, which Qatar is proud of, are at the same time an incentive for it to continue working hard to maintain its position in the global markets, and to continue to offer innovative solutions to enhance it.

He addressed the audience, saying that the world suffered over the past few years, with the pandemic and its economic impact, as well as with armed conflicts around the world, in addition to the climate change crisis. The PM stressed that people have grown accustomed to rising to the challenge to create opportunities, stressing that people will be capable of overcoming these challenges and achieve comprehensive economic growth to advance the world, which is going through a knowledge and technological revolution that governments and companies have a responsibility towards their society in managing these resources and knowledge.

He explained that the Qatar Economic Forum is an important platform for discussing the most important economic issues and challenges facing the world today, and for discussing ways to address them in a spirit of cooperation and innovation, expressing his hope that the presence of its participants will constitute an important opportunity that helps in looking forward to a better future, indicating at the same time that supporting the economy, investment and innovation, while promoting common human values and preserving peace, is the way to build the capabilities needed to overcome crises and overcome the challenges facing the world today.

He said that the world can build a global economy that achieves common aspirations through joint action and the exchange of expertise and knowledge.

The PM expressed his hope that the forum will build new paths that enhance business and investment climate towards promising avenues of growth, development, enhancement of understanding and cooperation between states, international institutions, private companies, and NGOs, while also finding economic solutions that help the world achieve its desired transformation.

He expressed his hope that the forum can be an opportunity for dialogue and building partnership that enhance that transformation and economic progress towards a more prosperous future, given challenges create opportunities and cooperation makes change.