HE Economy Minister Stresses Commitment to Diversification

Doha, May 24 (QNA) - HE Minister of Economy and Commerce Sheikh Ahmed bin Jassim bin Mohammed Al-Thani gave Sunday a speech at Joaan Bin Jassim Joint Command College where His Excellency stressed Qatar's keenness on economic diversification. Commander of Joaan bin Jassim Joint Command and Staff College Brigadier Nasser Abdullah al-Sulaiti attended the speech, as did a number of officers in the college. The speech of HE the Minister discussed developments of the Qatari economy and its achievements over the past few years. The speech also discussed the challenges ahead as well as regional and foreign developments. HE the Minister began the speech by reviewing Qatar National Vision 2030, particularly in terms of economic development which His Excellency described as the road map for the ministry's policies. Then, HE the Minister listed some of the achievements made in recent years. Firstly the continuous growth of GDP which was apparent across all economic sectors. That growth led to Qatar becoming one of the leading providers of energy in the World, His Excellency added. His Excellency then moved to discuss achievements made locally such as the success in enhancing competitiveness in the market and the protection of consumers among others. HE the Minister then discussed the challenges facing economies of the region and Qatar in particular. The first one that His Excellency mentioned was that economic diversification needed more depth. His Excellency noted that the critical point was to lessen the reliance on the oil sector and not just increase the number of non-oil sectors contributing to the GDP. Another challenge is the increasing population in the GCC. HE the Minister said that such an increase placed more pressure on the region's infra-structure and increased the market. That requires the state to satisfy the demands of the increasing population in cooperation with the private sector, HE the Minister added. His Excellency stressed in that regard that the Ministry of Economy and Trade has been working with other state authorities on enhancing the partnership with the private sector and supporting small and medium enterprises. After concluding the speech HE the Minister responded to questions from the officers who listened the speech. (QNA)