Speech by His Excellency the Prime Minister and Minister of Foreign Affairs On the occasion of opening the fourth edition of the Qatar Economic Forum Under the theme "A Changing World: Navigating the Unknown"
In the name of Allah, the most Gracious, the most Merciful
Your Highness Sheikh Tamim bin Hamad Al Thani,
Your Excellencies,
Distinguished guests,
May peace, mercy and blessings of Allah be upon you
I welcome you to the fourth edition of the Qatar Economic Forum, held under the theme "A Changing World: Navigating the Unknown", during which we share ideas and search together for a better tomorrow for future generations, through potential economic opportunities between our region and the rest of the world.
Ladies and gentlemen,
We meet today while our world is facing challenges and crises. We had hardly recovered from the Covid-19 pandemic before, when we found ourselves facing wars that cast a dark shadow on the details of our lives. These wars are taking place around the world, including the Russian-Ukrainian war in Europe, the Sudanese crisis in Africa, and the most recent is currently taking place in the Gaza Strip, where the humanitarian crisis has worsened and the war has claimed the lives of thousands of innocent victims, including children, women and the elderly.
And although the State of Qatar was among the first who warned of the danger of this war spreading to other places in the region, the whole world failed to prevent this. The confrontations spread to the Red Sea, which threatened international navigation and increased the difficulties that global trade was already suffering from.
The multiple challenges resulting from these successive crises compel countries to work to improve economic conditions, as this contributes to the creation of havens of stability.
This is what the State of Qatar was able to achieve under the wise leadership of His Highness Sheikh Tamim bin Hamad Al Thani, as embodied in Qatar National Vision 2030, which enabled the country to overcome many challenges, reaching the flexibility that characterizes the Qatari economy and places it in a competitive position at the global level, and the efficient investment in natural and human resources.
The Qatari economy continued to achieve indicators of stability and prosperity. The gross domestic product at constant prices until the third quarter of 2023 grew by about 1.6%. This growth coincided with the improvement of financial stability indicators, with the government adopting a flexible financial plan in the face of fluctuations in energy prices.
Distinguished guests,
On the road to the final stages of Qatar National Vision 2030, the government will continue to work to complete and strengthen the structures of a diversified Qatari economy, driven by local and foreign private sector initiatives, supported by a series of regulatory reforms and investment incentives, and qualify to rank among the top 10 countries in terms of business environment.
Ladies and gentlemen,
Qatar is moving towards a comprehensive digital transformation by investing more in the fields of technology, innovation and artificial intelligence. For this purpose, the state has allocated an incentive package worth QR 9 billion.
To achieve this, the State of Qatar is hosting, for the first time in the Middle East and Africa, the “Web Summit” to strengthen partnerships with major investors and exchange experiences with technology pioneers from around the world. On the sidelines of this summit, the "Start in Qatar" project was launched, where more than 250 startups were registered.
I am also pleased to announce, on this occasion, the launch of the Arab artificial intelligence project "Al-Fanar", which will rely mainly on collecting high quality data in the Arabic language, which in turn will contribute to enriching the large linguistic models and to preserving the Arab identity.
The government also continues its investment in the energy sector, and by 2030, thanks to the North Field expansion project, Qatar will have completed its expansion in liquefied natural gas (LNG) production, which will bring the total production to 142 million tons annually.
Ladies and gentlemen,
We are all proud that the State of Qatar has become a beacon of economic opportunities for many, and is sought by investors from all over the world. It provides the economic foundation for success that can advance the region, so that everyone can enjoy prosperity.
We have hope that our peoples [of the region] will be able to overcome the challenges we are facing. In Qatar, we are determined to bring about change to establish a better future for us all. We look forward to seeing new investment opportunities through this forum.
Thank you, and welcome to Doha