HH the Amir’s speech highlights commitment to Qatar’s economic development, says Qatar Chamber chairman

Qatar Chamber Chairman Sheikh Khalifa bin Jassim al-Thani.

Qatar Chamber Chairman Sheikh Khalifa bin Jassim al-Thani lauded the speech of His Highness the Amir Sheikh Tamim bin Hamad al-Thani during the opening of the 53rd annual session of the Shura Council, underscoring that it addressed all important issues in terms of the state’s economic development and its domestic and foreign policies.

Sheikh Khalifa noted that HH the Amir began his speech by addressing the national economy, emphasising his commitment to its development and support for economic sectors in line with the Third National Development Strategy.

This strategy focuses on supporting the sectors of commerce, industry, research and tourism, digital transformation, and information technology, developing financial and administrative systems and enhancing human development to achieve economic diversification and sustainability.

Sheikh Khalifa said HH the Amir’s speech underscored the strength of the Qatari economy, which has continued to grow over the past year despite the anticipated decline following the completion of 2022 FIFA World Cup projects and the achievement of key infrastructure projects.

He noted that estimates indicate that the GDP at constant prices has grown by 1.2%, supported by the growth of the hydrocarbon sector by 1.4% and the non-hydrocarbon sector by 1.1%, affirming the private sector’s essential role in supporting economic development.

In this context, Sheikh Khalifa emphasised that the chamber is sparing no effort in stimulating the business sectors and addressing any obstacles that may hinder their expansion and development. He pointed to HH the Amir’s consistent commitment to enhancing the partnership between the public and private sectors and fostering the private sector’s role in the national economy.

He said HH the Amir’s speech addressed enhancing local production and opportunities available to the private sector, indicating that following the implementation of the in-county value programme (ICV) in government procurement in August 2022, a directive was issued to target a growth rate of no less than 10% annually of the in-country value.

This includes developing plans to localise various economic sectors and establishing mechanisms, such as mandatory procurement lists and long-term contracts, while also considering the quality of the local products and their competitiveness against imported products. The state has acted to support the private sector through Qatar Development Bank (QDB) and partnerships in private agricultural projects.

Sheikh Khalifa also praised the emphasis in HH the Amir’s speech on national unity and equal citizenship in terms of rights and duties, which requires the preparation of constitutional and legislative amendments, including a return to the system for appointing members of the Shura Council.

He also underscored that these amendments aim to serve the supreme interests of the state and promote the values of justice and equality in rights and duties among members of society. He affirmed that these constitutional amendments will be put to a popular referendum, which reflects His Highness’s confidence in his loyal people.