Al-Raya Says Private Sector is Major Partner in Development Efforts in Qatar

Doha, July 14 (QNA) - Qatari daily newspaper Al-Raya stressed in its editorial the importance of the role played by the private sector in the State of Qatar as a major partner in the development and urban renaissance efforts in the country, noting the Business Promotion program launched by Qatar Development Bank (QDB) to help the private sector. The newspaper said that funding must be provided to Qatari entrepreneurs, in addition to integrated solutions and measures to support small and medium-sized companies in continuation of Qatar's development strategy to support the private sector and small and medium-sized companies against the coronavirus epidemic (Covid-19). The newspaper pointed out that the importance of the Business Promotion program also stems from the fact that it provides advisory services to help small and medium-sized companies in the country find successful solutions, plan for economic recovery, and contribute to overcoming the repercussions of the coronavirus epidemic (Covid-19). Additionally, it helps them reopen business safely in the context of new situations, launch and activate digital solutions, and improve manufacturing processes in order to increase commercial productivity and efficiency. The Al-Raya pointed out that this program launched by Qatar Development Bank represents a comprehensive strategy to respond to the effects of the coronavirus epidemic (Covid-19) on the business sector, and came after the launch of the National Guarantee Program to provide short-term payments facilities to support the private sector. Al-Raya newspaper indicated that the banks move was a continuation of the strategy set by the state to support the private sector, especially small and medium-sized companies, to face the coronavirus pandemic, and to enable Qatari business leaders to have all the necessary ways and tools to contribute to overcoming the challenges we face. This program will help private sector companies cope and grow in the new reality of the post-pandemic business world. The newspaper added that the launch of the Business Promotion program confirms the interest of the leadership in supporting the national economy and stimulating the private sector in order to achieve more production. Also, this program will lead to the stability of the conditions of these companies and will give them a great ability to face the economic effects associated with the repercussions of the coronavirus epidemic, and will ensure that they continue to work in a manner that does not affect the general course of their commercial operations, which will give it a greater ability to survive after the difficulties associated with the current situation and the return of things to normal. The newspaper pointed out that this program comes as a continuation of the state's efforts to provide all kinds of support to small and medium-sized companies and various components of the private sector in Qatar during the current circumstances. In conclusion, Al-Raya expressed its great optimism about the continued positive performance of the Qatari economy because of the states interest in supporting the private sector, pointing out that the private sector companies affected by the coronavirus pandemic will be greatly prepared to achieve good performance in light of the Business Promotion program, which will stabilize these companies with the Financial Guarantee incentives it provides. (QNA)