Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar - Call to ease barriers in setting up businesses  Join our daily free Newsletter

MENAFN - The Peninsula - 28/01/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - The Peninsula) Easing some of the barriers in setting up profitable businesses and a vibrant legal system that is more market responsive will help enhance the pace of economic diversification in Qatar, an expert has said.



"Qatar does most of the things quite right. However, if there are certain areas where it can improve is the ease with which companies are established," said Dr S Thomas Emerson, Distinguished Career Professor of Entrepreneurship at Carnegie Mellon University-Qatar (CMU-Q)



Dr Emerson, while speaking with The Peninsula recently, said: "The restriction of having minimum 51 percent Qatari ownership is one of the barriers to the creation of profitable business and investment. By focusing on lowering those impediments would be helpful spurring the development and diversification of the economy.



He said that Qatar, while maintaining a careful control on the energy sector - "the lifeblood of the economy" - can allow competition and investments in businesses outside the hydrocarbons industry.



Emerson has served in various organisations. He was the President and CEO at Arizona Technology Incubator, Xantel Corporation and also the Chairman of Syntellect



Speaking on Qatar's efforts in achieving industrial diversification by establishing vibrant small and mid-size enterprises by promoting local entrepreneurship, he said: "Entrepreneurs can always do impossible things.



He continued saying that the Middle East, including Qatar, offers some particular challenges because entrepreneurship has always been a part of the Middle Eastern culture.



However, it has not been able to maintain the same degree of contribution to the world economy as compared to its energy sector, but the accomplishments the National Vision 2030 is expected to bridge the gap



Referring to the evolution of digital music, which has replaced the traditional music industry, he said: "It is often said that capitalism is the process of creative destruction, and it is the very element that keeps it vital. New things are constantly evolving through innovation. Industries that were, 30-40 years ago, considered as lucrative businesses are now out of fashion.



He cited the example of Apple and Steve Jobs, who turned it as the world's largest business entity.



"Things have changed the way the world works. I absolutely see no reason why that kind of creativity and revolutionary innovations can't come from this culture. After all, Jobs was an Arab descendent whose ancestors were Jordanians," he said



He also noted that Qatar has many competitive advantages, such as low energy cost, probably the lowest in the world, strategic geographical location, huge area of undeveloped land and relatively easy access to the inexpensive labour market.



"Qatar has a lot of opportunities to exploit these competitive advantages. The enormous level of investments in education and human capital is an experiment which has never been tried on this scale by any other country. I expect that it would pay huge dividends to create a modern society.



"The government needs to modernise its legal system to make it more market responsive. It will have great positive outcome," he said.



Qatar remains one of the three top markets for companies doing business in the Middle East region with more than 200bn worth of major projects due to be awarded in the years to 2030


 


The Peninsula




  MENA News Headlines
 Jul 2 2015 - Jordan's Zarqa exports hit USD42.17m in MayMENAFN
(MENAFN) Jordan' exports, certified from the Zarqa Chamber of Commerce at the Free Zone in Zarqa, reached an overall value of about USD42.17 million in May, Jordan News Agency reported.Vehicles and ...

 Jul 2 2015 - Saudi Al-Haramain Train project worth USD2.502b, largest in MideastMENAFN
(MENAFN) Saudi Arabia's Al-Haramain Train project, considered as the largest transportation scheme to ever be developed in the Middle East, surpassed a total value of USD2.502 billion for its four ...

 Jul 2 2015 - UAE condemns terrorist attacks in North SinaiThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) The Ministry of Foreign Affairs has condemned the terrorist attacks which took place in North Sinai today and resulted in martyrdom of several Egyptian army ...

 Jul 2 2015 - UAE grants USD9.79b for infrastructure in developing countriesMENAFN
(MENAFN) The United Arab Emirates is set to offer a total of USD9.79 billion for infrastructure in certain developing countries, according to the Minister of International Cooperation and Development ...

 Jul 2 2015 - Abdullah bin Zayed meets with Scotland's former First MinisterThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) H.H. Sheikh Abdullah bin Zayed Al Nahyan, Foreign Minister, today met with Scotland's former First Minister, Alex Salmond. During the meeting, they reviewed ...

 Jul 2 2015 - Human Appeal International prepares thousands of food parcels in PalestineThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Human Appeal International (HAI) has begun the implementation of food parcels project for the underprivileged families in the Palestinian Governorates, as ...

 Jul 2 2015 - Another world's first from Dubai: paperThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) A UAE paper has said that Dubai has a penchant for breaking world records and has hit the Number One slot in varied fields."The Emirate's latest plans to ...

 Jul 2 2015 - UAE- Mattar Al Tayer receives Japanese Consul-GeneralThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Mattar Al Tayer, Director-General and Chairman of the Board of Executive Directors of the Roads and Transport Authority, RTA, has received Hisashi Michigami, ...

 Jul 2 2015 - Saudi Prince Vows to Give Away $32 BillionThe Arabian Post
(MENAFN - The Arabian Post) A Saudi prince pledged on Wednesday to give away his entire $32 billion fortune to charitable causes in Saudi Arabia and elsewhere in the world.The prince, Alwaleed bin ...

 Jul 2 2015 - Dispute With China Is Over: KuwaitArab Times
(MENAFN - Arab Times) The Kuwaiti oil minister said on Wednesday that a dispute over a refinery project with China revolves around differences over how to sell oil products and pricing. "The ...

more...


 






Google

Click to Apply

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help