The Qatar Chamber has made efforts over the past several years to meet a goal of economic diversification by encouraging the private sector to develop a larger role in the region’s economy, Qatar Chamber President Sheikh Khalifa bin Jassim Al Thani said recently.
During the chamber’s General Assembly meeting on May 19, Al Thani said that supporting the private sector has led to an increase in contribution to the GDP, which was a main concern of the chamber.
Al Thani said that during 2015, the chamber held more than 70 meetings with trade delegations from different countries. In an effort to promote the private industries, the chamber held many meetings with trade delegations and continuously supported the private businesses in an effort to build the value offered by those companies within Qatar.
In addition, the Qatar Chamber hosted a variety of exhibitions and conferences that resulted in positive movement for the private sector businesses. Some events to note included the fourth Made in Qatar Exhibition, the first Gulf Economic Forum, GCC Businesswomen Forum and Made in China Exhibition, all of which brought in a large number of visitors and businesses.
The decline in oil prices has sparked a global economic crisis, which is only magnified by the decline in global growth rates, Al Thani said. The Qatar Chamber also showed concern for volatility in the Arab region and fear that has grown within the GCC economies.