Qatar, which was recently ranked among the top 20 globally competitive economies by the World Economic Forum, yesterday “promised” to back and extend all support to the private sector, whose role in the country’s economy has been on an increase.
This assurance was given by HE the Prime Minister and Interior Minister Sheikh Abdullah bin Nasser bin Khalifa al-Thani during an hour-long interaction with heads of listed companies on the Qatar Stock Exchange (QSE), which now has 44 constituents.
“This (meeting) is an initiative of the Prime Minister. He (the PM) briefed the meeting on the help being extended to the private sector and promised that the government will back and stand with the private sector,” said HE Mohamed bin Abdullah al-Rumaihi, the Minister of Municipality and Environment, who along with other ministers, was present at the meeting.
The Prime Minister said Qatar was one of the biggest countries in terms of spending on national projects. Spending on major projects touched QR56bn in the first six months of the year. The past two months also saw signing of QR16bn projects, he said adding the budget for the 2017 fiscal year will see an increase in spending on the state’s big projects, something that will enhance the economic growth of the country.
He said the government will focus on completing major projects in infrastructure, education, health as well as projects tied to the World Cup 2022. These commitments will lead to an increase in spending on those projects in the next three years, he added.
The Prime Minister said the government was committed to improving the ease of doing business and investing in Qatar by developing the legislative framework and simplifying procedures. He said was a committee revising the procedures and charged with facilitating the private sector’s ability to participate in all of the country’s economic activities, and highlighted changes to the visa and transit visas as an example of these efforts.
The government will also help in facilitating the process of obtaining working visas to allow the private sector to obtain its needs from the job market.
Al-Rumaihi said the listed companies freely expressed their concerns and on the problems faced by them while doing business with the government or related sectors.
Sheikh Abdullah bin Nasser asked the private sector to be real partners with the government in the nation building process.
Echoing similar lines, QSE chief executive Rashid bin Ali al-Mansoori said the discussions were general in nature and the firms aired their concerns and on how to develop the market.
The meeting also assumes significance given that HH the Emir Sheikh Tamim bin Hamad al-Thani had late last year said a comprehensive review of all state-owned companies have been carried out.