Resilient economy, investment efficiency placed Qatar in global competitive position: Prime Minister

Doha, Qatar: Prime Minister and Minister of Foreign Affairs HE Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani affirmed that under the leadership...

Doha, Qatar: Prime Minister and Minister of Foreign Affairs HE Sheikh Mohammed bin Abdulrahman bin Jassim Al-Thani affirmed that under the leadership and wisdom of the Amir HH Sheikh Tamim bin Hamad Al-Thani, embodied in the Qatar National Vision 2030, the State of Qatar has successfully navigated significant challenges, leading to the flexibility that characterizes its economy and positioning it competitively on the global stage, with efficient investment in natural resources and human energies.

Addressing the fourth edition of the Qatar Economic Forum under the theme "A World Remade: Navigating the Year of Uncertainty," His Excellency stated that the Qatari economy continues to achieve indicators reflecting its stability and prosperity, adding that the gross domestic product at constant prices until the third quarter of 2023 recorded growth of about 1.6 percent and this growth coincided with improvements in financial stability indicators, with the government adopting a flexible financial plan in response to fluctuations in energy prices. He added that Qatar is on its way towards the final stages of Qatar National Vision 2030, with the government continuing to work on completing and enhancing Qatar's diverse economic infrastructure, driven by initiatives from both the local and foreign private sectors, supported by a series of regulatory reforms and investment incentives, qualifying it to occupy an advanced position among the top 10 countries in terms of business environment.

His Excellency further highlighted Qatar's transition towards comprehensive digital transformation through increased investment in technology, innovation, and artificial intelligence. To achieve this, Qatar has allocated a package of incentives worth QR 9 billion, and the country is hosting several sessions of the "Web Summit" conference for the first time in the Middle East and Africa to enhance partnerships with major investors and exchange expertise with technology leaders worldwide. Alongside this summit, the "Startup Qatar" project was launched, with more than 250 startups registered.

His Excellency also announced the launch of the "Al Fanar" Arabic Artificial Intelligence project, which will primarily focus on collecting quality data in the Arabic language, contributing to enriching large linguistic models and preserving the Arab identity. He pointed out that the government will continue its investment in the energy sector, with Qatar expected to complete its expansion in natural gas production by 2030 through the North Field Expansion project, increasing total production to 142 million tons annually.

His Excellency expressed his pride that Qatar has become a beacon of economic opportunities for many, attracting investors from around the world, due to the foundations it provides for economic success that helps uplift the region, allowing everyone to enjoy this prosperity.