(MENAFN- Qatar News Agency) The State of Qatar's GDP is projected to achieve stable growth of about 4.3 percent during this year, HE Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohammed Al-Thani.
Speaking at the opening of the Enriching the Middle East's Economic Future Conference today, His Excellency praised the conference's role in providing an opportunity for participants to exchange views and discuss issues of interest to the peoples and countries of the Middle East.
Given the present circumstances in the global economy and in light of fluctuations in oil prices along with declining growth rates in world's major economies concerted efforts are required to establish a knowledge-based and dedicated culture of innovation in the Middle East, HE the Minister said, adding that knowledge-based creativity and innovation have become the main value of the communities in developed countries and an essential tool to achieve comprehensive and sustainable development.
HE the Minister of Economy and Commerce said, under the wise guidance of HH the Emir Sheikh Tamim bin Hamad Al-Thani, the State of Qatar has been working on the consolidation of imparting knowledge in various areas, and in economic sector in particular, by pursuing flexible policies to diversify the sources of income and to keep pace with Qatar National Vision 2030.
His Excellency highlighted that Qatar placed the private sector and innovation at the forefront of strategic priorities by implementing a set of programs and policies to strengthen integration between various state authorities and enshrine the principle of meaningful and constructive partnership with the private sector.
HE Sheikh Ahmed bin Jassim bin Mohammed Al-Thani said that these efforts reflected the State of Qatar's ranking in international reports and indicators as the 2015-2016 Global Competitiveness Report issued by the World Economic Forum ranked the State of Qatar first among Arab countries and 14th globally.
He added that the Qatar occupied the first position globally in terms of ease of access to loans and placed its stable macroeconomic environment in the second position, along with a very high level of physical security as it ranked 4th. All these indicators are the best proof of the successful economic policies and contributed directly to the promotion of Qatar's competitive economy, he said.
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