November 22, 2024

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PM: Government Committed to Implementing HH the Emir’s Directives to Push Economy Movement Effectively

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Sheikh Abdullah bin Nasser bin Khalifa Al-Thani, Prime Minister and Minister of Interior
Sheikh Abdullah bin Nasser bin Khalifa Al-Thani, Prime Minister and Minister of Interior

HE the Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa Al-Thani has confirmed the government’s commitment to implementing the directives of HH the Emir Sheikh Tamim bin Hamad Al -Thani in his speech during the opening of the third ordinary session of the Advisory (Shura Council) , in which His Highness stressed the importance of government’s role in creating a climate appropriate to push the economy movement effectively by adopting specific actions, and in a practical, effective manners in order to achieve results to be felt by the Qatari citizens, merchants and investors as well as commitment to HH the Emir’s vision that expresses the hopes and aspirations of the Qatari people.

Speaking at the consultative meeting held this evening with businessmen and Qatar Chamber of Commerce and industry at the Ritz Carlton Hotel, HE the Prime Minister and Minister of Interior noted that the national economy is expected to grow between 5 to 6 percent during 2015, despite the current big drop in oil prices, and that the GDP of the State of Qatar will achieve a growth rate of 6.2 percent This year, the same rate of what had been achieved during the past two years. “, HE the Premier and Interior Minister added He noted that the non-oil sector achieved a growth rate of 11 percent in 2013, and is expected to achieve a growth of 12 percent during this year, adding that growth rates in the non-oil sector would remain strong in the coming years to increase its share of the GDP to reach (50%) In 2014.

HE the Prime Minister and Interior Minister stressed that the Government was working to strengthen the role of the non-oil sector in economic activity, through a set of guidelines and procedures to support the private sector, focusing on specific priorities in the State budget, and also focus on investment in infrastructure projects for requirements of growth in non-oil sectors, in addition to investing in projects related to the football World Cup 2022, which will support the growth of the private sector.

He also explained that various ministries and Government departments had been instructed to review all processes, systems and procedures which have an impact on business development, and strengthening national and foreign investments in the State, in order to reduce the obstacles and difficulties, as well as review the legislative and legal framework for business and economic development in the State. He added the Ministers had been tasked with work study to determine land requirements, covering the next five years, and meet the needs of the society and economy of land earmarked for housing, business, industry, education, health, food security project and all other services.

The Minister noted that the substantial decline in oil prices in recent weeks poses a significant challenge for the economy of Qatar, as well as the surrounding countries, despite the country’s economy is solid, and can handle the big changes that may strain the economies of other countries, noting that we must recognize that the high volatility of oil prices is a constant warning to the importance of achieving greater diversification of the economy, and the importance of the role of the private sector, and focus on Qatar economy competitiveness and its ability to attract more domestic and international investments.

The Government is seriously committed to the Qatar National Vision 2030, and is working to maximize the financial returns to Qatar including natural wealth, local and foreign investment as well as maintaining good governance, sustainable development and effective accountability, said HE the Premier and Interior Minister. He also noted that the government is keen to make good use of the national youth and potential human resources in Qatar by integrating them into production and development system.

Source : Qatar News Agency

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