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State efforts to empower small and medium-sized enterprises (SMEs) has helped Qatar’s non-oil sector reach annual growth of 7.4% in the last quarter of 2015, the Minister of Economy and Commerce (MEC) has said.
HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohamed al-Thani, who inaugurated the “12th Annual Meeting of International Network for SMEs (INSME 2016)” yesterday at the Sheraton Doha said the state “is very keen” to strengthen and support the role of SMEs in diversifying Qatar’s economy. He described Qatar’s non-hydrocarbon industry “as the major motivator for the diversification of the economy.”
He noted that the MEC has provided a range of initiatives and programmes to support SMEs, including comprehensive electronic services packages that allow them to transact business via the MEC website or the new mobile application.
“These initiatives enable them to undertake many transactions through the Ministry’s website or even through their mobile phones. The Ministry provides more than 50 features in collaboration with the various government authorities to help facilitate transactions for these companies,” Sheikh Ahmed said.
He also said: “These initiatives also help enhance the level of services provided by the Ministry such as the issuance of licenses and registrations of commercial establishments and companies.”
Despite the recent slowdown in the international economy, Sheikh Ahmed said Qatar’s economy “has achieved robust performance due to strong legislations and laws.”
“The Qatari economy has managed to gradually move from an oil-based economy to a knowledge-based economy in order to strengthen the non-oil and gas sector, and the role of such sectors has seen significant growth by 7.4% in the last quarter of 2015.
Abdulaziz bin Nasser al-Khalifa, CEO of Qatar Development Bank, also highlighted QDB’s efforts to support and develop SMEs. He said in 2015, QDB provided 66 workshops for 550 entrepreneurs, adding that funding provided by QDB for different institutions reached $4.5bn.
“We are delighted to host the 12th Annual Meeting of International Network for SMEs for the first time in Qatar…Hosting such an influential global industry event shows the prestigious reputation Qatar has built as a thriving business and investment destination, and its recognised efforts to support SMEs and private sector growth,” he saidThere are no comments.
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