QC Chairman: HH the Amir’s Speech Highlights Commitment to Qatari Economic Development

HE Chairman of Qatar Chamber (QC) Sheikh Khalifa bin Jassim Al-Thani praised the speech of HH 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. In press remarks, His Excellency noted that HH the Amir began his speech by addressing the national economy, emphasizing the 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 with the aim of achieving economic diversification and sustainability. HE QC Chairman also indicated that HH the Amir's speech underscored the strength of the Qatari economy, which has continued to grow over the pas t year despite the anticipated decline following the completion of 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 percent, supported by the growth of the hydrocarbon sector by 1.4 percent and the non-hydrocarbon sector by 1.1 percent, affirming the private sector's essential role in supporting economic development. In this context, HE Sheikh Khalifa bin Jassim Al-Thani emphasized that QC spares 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 sectors role in the national economy. He pointed out that 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 program (ICV) in government procurement in August 2022, a directive was issued to target a growth rate of no less than 10 percent annually of the in-country value. This includes developing plans to localize 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 the Qatar Development Bank (QDB) and partnerships in private agricultural projects. HE QC Chairman 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 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 societ y. He affirmed that these constitutional amendments will be put to a popular referendum, which reflects HH the Amir's confidence in his loyal people. Source: Qatar News Agency