Qatar Focuses on Economic Diversification Away From Oil and Gas Sector

HE the Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohammed Al-Thani said that the economic vision set by the State of Qatar for 2017-2022 period focuses on economic diversification away from the oil and gas sector.
Speaking at the second session of the Qatar-U.K. Business and Investment Forum which began in London today, His Excellency said the 2030 vision aims at upholding these ambitious plans to diversify the economy, adding that the availability of advanced infrastructure enabled the State of Qatar to turn development plans into reality on the ground.
HE the Minister of Economy and Commerce added that the future projects carried out by the government to achieve this goal include a new airport, a new port and new highways, as well as extended investment zones. "We are looking for investors to invest in our investment zones that have advanced infrastructure," His Excellency said.
HE Sheikh Ahmed bin Jassim bin Mohammed Al-Thani pointed to cooperation between the private and public sectors in Qatar as part of the implementation of priority projects for the government, including projects in high production sectors that would enable Qatar to become a regional hub.
HE the Minister of Economy and Commerce outlined some projects that aimed at attaining "full development" based on the provision of a variety of services in each zone such as the "Qatar Sports Business Cluster" through which Qatar hopes to become a "regional hub".
Addressing the forum in a speech, Qatari Businessmen Association Chairman, HE Sheikh Faisal bin Qassim Al-Thani, praised the event and hoped that it will serve as a new window that stimulates more investment and trade between the two countries.
Sheikh Faisal bin Qassim said Qatar is committed to an economic policy that aims to encourage production and increase non-oil revenue sources, commending the objectives that were achieved in this regard and have led to an acceptable inflation of less than 2 percent as well as a zero percent unemployment and an increase in the involvement of the non-oil sector. 
He added that Qatar offers a unique model in integrated-based partnerships between the public and private sectors, noting that Qatar has undertaken mega projects to develop economic growth, and British companies have left marks that he hoped there would be more of. 
For his part, Qatar Development Bank (QDB) CEO Abdulaziz bin Nasser Al-Khalifa praised Qatar's infrastructure, which made it possible to support the business of thousands of small- and medium-sized enterprises and to train a lot of workers in the business sector by the bank besides financial support as well. 
Al-Khalifa called on U.K. investors to benefit from Qatar's capacities that enable it to be a regional axis. In turn, U.K. Secretary of State for International Trade, Liam Fox, said his country needs to do more in order to encourage exporting to other countries, noting that Qatar can be a partner in these efforts, especially as, he added, the two countries have capacities that integrate each other. 
The U.K. minister highlighted the Qatari economy and its ability to grow and develop and enter into a partnership with the U.K., saying that this partnership will be beneficial for both sides. 

Source: QNA