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Amir’s vision propels Qatar’s economy: Business leaders

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Yousuf Mohamed Al Jaida, CEO of QFC Authority

Doha: Praising the speech of Amir H H Sheikh Tamim bin Hamad Al Thani at the opening of the 49th Advisory Council Session, business leaders have said that the measures taken by the government, under the guidance of H H the Amir, maintained business continuity in the country. Due to the vision of wise leadership Qatar has succeeded in protecting the health of the citizen and the resident and also preserving the strength of economy. The financial package was great support for the private businesses and investors, especially the Small and Medium Enterprises (SMEs), to overcome the impact of the coronavirus.

Praising the speech of Amir H H Sheikh Tamim bin Hamad Al Thani at the opening of the 49th Advisory Council Session, Yousuf Mohamed Al Jaida, Chief Executive Officer, QFC Authority said that the measures taken by the government, under the directives of H H the Amir maintained business continuity in the country.

“The speech of Amir H H Sheikh Tamim bin Hamad Al Thani at the opening of the 49th Advisory Council Session highlighted the wise and profound vision of the State of Qatar’s leadership in navigating the COVID-19 turbulences over the past few months.

The decisions taken in the recent past to limit the adverse economic impact of the pandemic, especially towards the private sector, have steadily maintained business continuity and enhanced the ability of small and medium enterprises to face challenges moving forward, ” said Yousuf Mohamed Al-Jaida, Chief Executive Officer, QFC Authority.

“The Qatar Financial Centre has mirrored the decisions taken by the State of Qatar to offer relief to more than 900 firms already registered on its platform, and in April 2020 announced support measures, including the extension of the deadline to file tax without incurring any late filing penalties.”

Taking proactive measures in April this year, Qatar Financial Centre (QFC), which is one of the region’s leading and fastest growing onshore business and financial centres, had announced new support measures to offer relief to the 900 plus firms already registered on its platform.

The measures were in line with the actions taken by the State of Qatar and various Qatar entities to provide support to the nation’s economy and private sector in light of the business risks posed by coronavirus (COVID-19).

Fahad Rashid Al Kaabi, CEO of Manateq

CEO of Manateq, Fahad Rashid Al Kaabi, lauded the speech of Amir H H Sheikh Tamim bin Hamad Al Thani at the opening of the 49th Advisory Council Session.

He also praised the various steps taken by the visionary leadership, which include the economic support package of about QR75bn, a great help for the private businesses and investors, especially the SMEs, to overcome the impact of the coronavirus and restart their operations.

Al Kaabi said: “Given the strong macroeconomic fundamentals of the Qatari economy, strategic geographical location, supported by the leadership and various government agencies, Qatar will continue to grow and attract investments in various promising sectors of the economy, which include logistics, manufacturing and many other downstream industries and services.”

Board Member at Qatari Businesswomen Association, Amal Al Aathem

Board Member at Qatari Businesswomen Association, Amal Al Aathem, said that Qatar has successfully overcome the challenges posed by pandemic outbreak.

“The State of Qatar, thanks to its wise leadership, has proven that there is a strategic plan for emergencies and calamities that it had prepared in advance, and this became clear through the general situation that was at the beginning of the crisis, working hours in the private and government sectors. Qatar has helped itself and helped the affected countries during the crisis that reflects strength of country’s economy. The strategy adopted by Qatar helped to overcome the ordeal, as it established factories and internal facilities that provide consumer goods, agriculture and the manufacture of raw materials.

Citizens and residents contributed, following the example of wise leadership and commitment, which was circulated to everyone, and no one was excluded.

Sheikh Khalifa bin Jassim Al Thani, Chairman of Qatar Chamber

Qatar Chamber Chairman, Sheikh Khalifa bin Jassim Al Thani, said that Qatar has succeeded in protecting the health of the citizen and the resident and also preserving the strength of economy. The keenness of H H the Amir to support the private sector has helped it to overcome this pandemic. The QR75bn financial package provided by the government, under the guidance of H H the Amir, to the private sector gave a great impetus to the private sector and enabled it to withstand the economic repercussions.

The President of the Chamber praised the affirmation of H H the Amir on the need to accelerate the reduction of dependence on oil and gas revenues through economic diversification, noting that the Qatar Chamber supports this trend and works with all its energy to encourage businessmen to enter new projects and investment sectors that contribute to achieving economic diversification.

The Chamber continuously organises exhibitions, conferences and foreign visits for business owners and seminars that contribute to introducing the business climate in Qatar and introducing Qatari investors to the opportunities available in friendly countries as well as promoting Qatari products, as the Chamber supports the country’s strategy of economic diversification.

Sheikh Khalifa bin Jassim also praised the contents of the speech of H H the Amir’s announcement that the state’s general budget will continue to focus spending on health, education and infrastructure projects.

President of Qatar Indonesia Business Council, Farhan Al Sheikh Al Sayed

President of Qatar Indonesia Business Council, Farhan Al Sheikh Al Sayed, said that Qatar will continue to remain the fastest growing economy in the GCC, thanks to the wise leadership of  H H the Amir.

“Amir H H Sheikh Tamim bin Hamad Al Thani’s wise leadership during the critical time of the pandemic, is going to lead Qatar into a strong post-pandemic economy. And the country will remain the fastest growing economy in the GCC. Every promise has been delivered. Qatar still has the Vision 2030, and the World Cup projects are being delivered. The global pandemic has affected all countries, but Qatar continued attracting direct foreign investments. The country’s recent labour reforms including the abolishment of the no-objection certificate, has been praised by the international community including the ILO and UN.

 

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