The Emir of the State of Qatar, Sheikh Tamim bin Hamad Al Thani, affirmed that the Qatar Economic Forum represents the start of a series of forums aimed at enriching the dialogue on the global economy and moving to a stage after “Covid 19”, expressing his confidence that the first edition of the forum will constitute a qualitative addition to the joint efforts between countries. societies, and cooperation between them and the business sector in facing all challenges and building a better future for the people.
Sheikh Tamim said – in his speech before the opening session of the forum, which is held via video conference in cooperation with Bloomberg – that today’s meeting is being held in the midst of the confrontation with the “Covid-19” pandemic, which posed a serious and unprecedented challenge to all humanity at all levels, “including the economic field.” There were endless discussions about the illusory trade-off between the health of the people and the health of the economy, and uncertainty overshadowed the expectations of international institutions regarding the future prospects of the global economy. Read also Experts: Qatar Economic Forum is a new global platform for exchanging ideas and solutions The Emir of Qatar at the Saint Petersburg Forum: Our gas production will increase by 40% by 2026 With the participation of a global elite of more than 2,000 people.. Qatar Economic Forum opens its sessions today Qatari Prime Minister: Preparations for hosting the World Cup in Qatar are progressing at an accelerated pace
The prince indicated that despite this, the International Monetary Fund had made it clear in its report issued in April 2021 that the global economy will achieve a growth of 6% this year and 4.4% in 2022, pointing out that this optimism is attributed to the relative recovery. For a number of vital economic sectors during the current year as a result of the financial stimulus plans adopted by many countries to support their economies, driven by the development of vaccination campaigns around the world, with reference to the inequality in the distribution of the vaccine.
Sheikh Tamim explained that the adaptation of societies to the conditions of the pandemic has led to a great development in digital technology, including the provision of job opportunities and distance education in an unprecedented manner, noting that this will have an impact in the post-pandemic economies as well.
The Emir of the State of Qatar added that the pandemic has re-posed major questions related to the relationship of modern societies to nature, society’s expectations of the state regarding public health policies, the state’s relationship with the economy, and global cooperation in facing challenges that cross borders of states, nationalities and cultures, such as epidemics, climate change, poverty and refugee issues.
Sheikh Tamim Al Thani explained that these questions proved once again that the role of the state is indispensable after many experts mourned it in the era of globalization, as in the case of the last financial crisis in the years 2008 and 2009, it was found that the expectations of societies in the event of a pandemic are directed towards the state, “and that The role of the state is indispensable.
He added that it has been proven that such challenges cannot be overcome by relying only on the efforts of the national state, as efforts to confront must include civil society and the business sector, and must be coordinated globally, as well as investing in research, anticipating upcoming epidemics, and producing and distributing vaccines.
The Emir stressed that the State of Qatar has spared no effort in responding quickly to the serious repercussions of the pandemic, as a strategy based on 3 main axes has been adopted, which is to protect all members of society by strengthening the medical sector, especially the public health sector, and providing the necessary support to the economy to reduce negative effects. to the pandemic, and to contribute to international efforts to address the virus by providing assistance to relevant countries and international organizations.
Sheikh Tamim bin Hamad added that, based on this strategy, “we have adopted a national program for vaccination against the virus, and the program has recently exceeded the number of two million and 800 thousand doses, as the vaccine has been obtained, to date, approximately 65% of the population, and all necessary measures have been taken. To reduce the economic consequences of the pandemic and provide support to the affected private sector, amounting to 75 billion Qatari riyals.
He added that Qatar adopted a flexible and non-extremist policy in the opening and closing procedures, to be a major approach in dealing with the current situation “based on our previous experiences” in facing crises, where proactive thinking and speed of adaptation to various variables constituted a fundamental pillar for achieving progress in development plans and programmes, especially By promoting self-reliance as much as possible in vital areas, adopting economic diversification, supporting the private sector, and stimulating investment to achieve the national vision.
The prince indicated that his country has prepared for the next stage by ensuring a balanced economic policy by continuing to expand the gas project in the North Field with the aim of increasing the production of liquefied natural gas by 40% by 2026, the proceeds of which will be used to boost investments for the benefit of future generations, which will contribute to diversifying sources of energy. Income, pointing to the support of the non-oil sectors, whose contribution to the GDP exceeded 61% at constant prices in 2020.
Sheikh Tamim explained that Qatar supports the development of environmentally friendly industries and the establishment of legislative frameworks that support the attractiveness of the business environment, such as the issuance of a law regulating the investment of non-Qatari capital in economic activity, and a law regulating partnership between the public and private sectors, in addition to investing in vital and important sectors, including health and technology. Developing free zones and continuing the expansion of Hamad International Airport and Hamad Port in a way that consolidates the economic openness of the country.
He added that despite the fact that the country is an exporter of natural gas, which is a low-carbon energy and the least dangerous to the environment, it is investing in research related to green and alternative and sustainable energy, and plans to move Qatar to it, as well as contributing to global efforts to combat climate change.
The Emir of Qatar called for cooperation between all countries to narrow the gap between developed and developing countries, especially in obtaining a vaccine and facing the repercussions of the epidemic, noting that his country has taken great steps in this path by providing the necessary assistance to more than 80 countries and international organizations.
Sheikh Tamim bin Hamad Al Thani called on the leaders of the world’s countries, especially the major industrialized countries, for more cooperation within the framework of the international system, sharing responsibilities and working together for a just and comprehensive distribution of the vaccine in a way that lays the foundations for building an integrated global social and economic system, pointing out that reaching vaccines To confront the “Covid-19” virus is a commendable humanitarian effort, but the race and competition of some countries to obtain quantities that exceed their needs will contribute to the faltering of international efforts aimed at controlling the epidemic globally.
The forum’s agenda includes 6 main themes: “Advanced Technology”, which will highlight the permanent changes in the relationship between humans and technology, and “Sustainable World”, which will explore the intersection of capitalism and the climate. As for “Markets and Investment”, it will discuss the ability of investors, in their relentless pursuit of growth opportunities, to shape a more resilient global economy.
The “Energy Flows and Trade” axis brings together global energy brokers to share their future vision, while the “Changing Consumer” axis deals with the future of trade and a more inclusive world to provide ideas on the recovery of societies after the Corona pandemic.
The Qatar Economic Forum aims to prepare plans that support the growth of the global economy during the post-pandemic phase, and to highlight the efforts of the State of Qatar to lead economic growth, achieve comprehensive development goals, and consolidate its position as one of the most important investment destinations regionally and globally