Thursday, 24 January 2019 09:04 GMT

Qatar- National Day/ Ministry of Economy and Trade .. Leading Projects and Initiatives

(MENAFN - Qatar News Agency) The economy of the State of Qatar succeed in 2015 in achieving good growth rates thanks to its reliance on policies, plans and legislation that translate the keenness of the country's leadership to raise the status of Qatar to the ranks of developed countries and to achieve sustainable development as well as to ensure a decent living for all citizens in line with Qatar National Vision 2030.

The National Day came this year and the initiatives launched by the Ministry have already formed a main tributary on the way of achieving these successes, on the basis of its role in the development of the national economy.

As part of its efforts to promote economic diversification, the ministry has sought to encourage the sports sector in coordination with the competent authorities. It works on a sports investment project, which aims to achieve optimum utilization of the available opportunities in the sports sector, manage and operate current and future sports facilities for the benefit of GDP and economic diversity and to promote Qatar regionally and internationally as a center of excellence and innovation in the sports business.

The Ministry of Economy and Trade puts the issue of consumer protection as one of the top priorities of its work and considers it a key pillar that contributes to strengthening the state's economy. In this sense, the ministry sought in 2015 to continue its efforts to consolidate consumer rights through the adoption of a number of initiatives to regulate the relationship between the merchant and the consumer and to prevent illegal monopolistic practices, as well as to enhance consumer rights and support the stability of the business environment in the country which would enhance the competitiveness of the national economy and thus to achieve the Qatar National Vision 2030.

Out of the ministry's efforts to establish a competitive and diverse economic environment and to create of a regular investment environment to attract domestic capitals and provide foundations for the establishment of partnership between the public sector and the private sector as well as to achieve the principle of equal opportunity and justice in line with the goals of Qatar National Vision 2030, the Logistics Committee launched projects of storage and logistics areas with an area of ??nearly 9 million square meters in 2015 in order to solve the deficit problem facing the domestic market in the field of storage and warehouses.

In 2015, the economic zone was launched in Umm Al Haul, after the launch of the economic zone in Abu Fontas in November 2014.

The partnership between the public and private sectors is an important tool to encourage the private sector to participate in development projects and increase investment to serve the economic and social development in the State of Qatar.

In this context, the Ministry of Economy and Trade is working on the development of a regulatory and legislative framework to promote partnership between the two sectors, and is currently promoting economic and trade sectors able to embrace advanced industries and services in the framework of programs and measures taken by the ministry to support the creation of productive and service base capable of competition and sustainability and capable as well of providing quality opportunities for Qataris.

In line with these efforts, allocation of lands for the establishment of private hospitals, schools and tourist facilities projects was approved.

In the same context, the Technical Committee encouraged the private sector to participate in the Ministry's Food Security projects by launching initiatives within a framework that enshrines the principle of competitiveness and reduces monopoly and bureaucratic obstacles.

During this year, the Ministry launched the macroeconomic project and program "economic planning, forecasting and scenarios," which is the fruit of cooperation with the various sectors of the State in the Ministry of Development Planning and Statistics, the Ministry of Finance, the Central Bank of Qatar and Qatar Petroleum to build and design an integrated model macroeconomic.

Believing on the importance of providing and bring goods and services to citizens and residents in the country at affordable prices, the Ministry has launched the three central markets project, aiming at meeting the increasing consumer demand for vegetables, fruits, meat and fish.

Ministry of Economy and Commerce has also launched Al Furjan Markets project, to bring together different commercial entities like in one place. There will be 645 shops in 44 different markets, in addition to ATM machines and post offices.

As part of efforts to achieve development goals of Qatar National Vision 2030 to build a national economy characterized by diversity and competitiveness through encouraging young people to contribute to the growth of the national economy, the Ministry of Economy has launched the Economic Empowerment of the Youth Forum, which aims to open prospects for young people to enable them to lead the national effort to build a real partnership with the business sector.

Through this initiative, the Ministry seeks to strengthen communication channels with youth and enhance its contribution to the achievement of sustainable economic growth away from oil and gas dependency.

The State of Qatar sought to strengthen bilateral relations with friendly countries and the global economic groups in various economic and trade fields, so the Ministry of Economy and Trade was keen to activate its participation in various local and international economic forums in order to encourage and attract foreign investment and capitals to Qatar.

Qatar- National Day/ Ministry of Economy and Trade .. Leading Projects and Initiatives

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