HE the Minister of Commerce and Industry Ali bin Ahmed al-Kuwari said Qatar has endeavoured to diversify its economy and shift towards a new knowledge-based economy.
This is done by encouraging investment in various sectors including education, health, tourism, and industry, which would foster innovation and build human capabilities.
Al-Kuwari was speaking at a high-level discussion session organised by the Qatar Investment Authority under the title “Global challenges and regional trends and their role in reshaping the Middle East” at the World Economic Forum 2020 in Davos, Switzerland.
Al-Kuwari affirmed that Qatar was keen to “devise new models to support its economy, in line with the Qatar National Vision 2030, noting that the unjust blockade gave the state an opportunity to accelerate the pace of implementation of plans and strategies for economic diversification.”
Spotlighting on Qatar’s efforts to develop infrastructure and logistics services to enhance its position as an important trade and investment hub in the region, al-Kuwari pointed out that Qatar is one of the largest producers of LNG in the world, with a strategic location in a region, which is home to important natural resources, containing two-thirds of the oil reserves in the world.
The minister explained that Qatar’s attractive business environment and the ongoing preparations to host the 2022 FIFA World Cup, would contribute to providing investors with the opportunity to finance, develop and operate projects in several sectors including food security, sports, tourism, health, education, and logistics.
He pointed to “Qatar’s belief and continuous support for the values of tolerance and dialogue, stressing that it is the only way to deal with the various geopolitical challenges in the region.”
He also touched upon global challenges and regional trends that would reshape the Middle East region, as well as the region’s political geography, political stability factors of countries, and mechanisms for technology development, industry, and innovation.
He pointed to the structural economic challenges facing the region and the factors represented by fluctuations in oil prices, increased global competition, and population growth, which would affect the sustainability of this economic model.
HE Secretary-General of the Supreme Committee for Delivery and Legacy Hassan al-Thawadi and co-director of the IDE and a principal research scientist at the MIT Sloan School of Management Prof Andrew McAfee participated in the session.
Al-Kuwari also participated in the Informal Gathering of World Economic Leaders (IGWEL), which is one of the most important meetings organised within the framework of the World Economic Forum.
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