Qatar Chamber’s Chairman Sheikh Khalifa bin Jassim al Thani said Qatar has managed to overcome the repercussions of siege in a very short time due to the rapid steps adopted by the government and the strength of private sector.
In press statement issued by the Chamber on the occasion of the second anniversary of the SAudi-led siege of Qatar, he said there are many factors that helped the country defeat the siege and transform its repositions into benefits including the economic and legislative environment, sound strategic plans as well as cooperation among all bodies and trade relations with friendly countries.
He noted that siege has no impact on Qatar’s economy, affirming that there existed light impact in the beginning of siege but they are disappeared because of synergy of efforts and resilience of economy.
Sheikh Khalifa stressed that the siege was a strong impetus toward achieving many significant accomplishments including accelerating the Country’s economic strategies, expanding agricultural and industrial projects, increasing outward investments, promoting local investment and attracting more foreign investments to the local market.
They include also providing more incentives to the private sector for promoting local industries, increasing production, enhancing relations with friendly countries and activating trade with world countries.
Stressing the Chamber’s role during siege, HE noted that it has sought since the very beginning of the siege to solve all obstacles facing the private sector.
He outlined the measures taken by the Chamber in co-ordination and co-operation with the competent authorities in the State to face the consequences of the siege, where the Chamber worked with importers of food to find new alternatives and overcome all the obstacles facing companies operating in this sector in order to ensure continuity of flow of those goods to the State.
During the siege Qatar Chamber held meetings with more than 200 trade delegations to discuss mutual investment opportunities and the possibility of establishing economic partnerships and alliances in light of the incentives, facilities and benefits for investment proposed by Qatar and the governments of those countries.
Sheikh Khalifa said that the number of companies established during siege reached 32000 companies registering a 34% growth compared to the two years before imposing the siege.
He also noted that the number of factories has increased by 17% reaching 823 in 2019 compared to 707 factories in 2016 (116 new factories established).
Number of permits for establishing factories reached 613 with total investments of QR 34 billion compared to 466 permits in 2016 (QR 31 billion ).
Total number of factories including existent and those under construction 1436 factories to 2019 compared to 1173 in 2016, with an increase of 23% (263 factories up).
New factories started production during the siege which contributed to achieving self-sufficiency in many sectors especially foodstuffs.
QC Chairman affirmed the role played by the chamber as an important part of the self-sufficiency strategy, noting that the private sector proved it is a real partner in the economic process.
Sheikh Khalifa also noted that Qatar non-oil exports grew 35% from QR 18.05 billion in 2017 to QR 24.4 billion in 2018.
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