Chairman of Qatar Chamber: 32,000 Companies Established During Blockade

Doha, May 29 (QNA) - Qatar Chambers (QC) Chairman HE Sheikh Khalifa bin Jassim bin Mohammed Al-Thani stressed Wednesday that the local private sector proved its great ability in dealing with big challenges, as they adapted quickly to the blockade, in no small parts thanks to the rapid steps adopted by the government. His Excellency said that 32,000 new companies were formed in the State of Qatar since the unjust blockade was enforced two years ago, compared to 24,000 established in the two previous years, representing a growth of 34 percent. The year 2017 saw the formation of 15,000 companies, with the number accelerating to 17,000 in 2018. The new companies were in a wide variety of sectors such as agriculture, transport, and manufacturing. The years 2016 and 2015 saw the formation of 13,000 and 11,000 companies respectively. His Excellency said in a statement today that there were a number of factors that helped the country defeat the blockade, including the economic and legislative environment, sound strategic plans as well as cooperation among all bodies, and trade relations with friendly countries. The chairman highlighted that the blockade had no impact on Qatar’s economy, affirming that the shock factor of the blockade was swiftly absorbed thanks to cooperation among all actors and to the resilience of the economy. His Excellency noted that the number of factories has increased by 17 percent to reach 823 factories in 2019, compared to 707 factories in 2016 (116 new factories established). The number of permits for establishing factories reached 613 with total investments of QR34 billion, compared to 466 permits in 2016 (QR31 billion). The chairman of Qatar Chamber said that all these achievements were a result of the blockade, as it allowed the establishment of factories with no restrictions. Previously, the principles of GCC economic integration prevented a country from expanding in a certain industry if it was already existing in one of the GCC members. QC Chairman HE Sheikh Khalifa bin Jassim bin Mohammed Al-Thani stressed that the blockade was a strong impetus toward achieving many significant accomplishments including accelerating the country's economic strategies, expanding agricultural and industrial projects, increasing outward investments, promoting local investment and attracting more foreign investments to the local market. They include also providing more incentives to the private sector for promoting local industries, increasing production, enhancing relations with friendly countries and activating trade with world countries. Stressing the chamber's role during blockade, His Excellency noted that it has sought since the very beginning of the blockade to solve all obstacles facing the private sector, which was achieved by its cooperation relations it holds with related entities in the State and other chambers around the world. His Excellency said the chamber urged merchants and businessmen, from the first day of the blockade, to urgently find alternative means to import goods, especially food. The chamber also coordinated with various government agencies concerned to form specialized committees to address all obstacles, to ensure the continued flow of goods from abroad without interruption and launched several initiatives to support national products. During the blockade Qatar Chamber held meetings with more than 200 trade delegations to discuss mutual investment opportunities and the possibility of establishing economic partnerships and alliances in light of the incentives, facilities and benefits for investment proposed by Qatar and the governments of those countries. HE Sheikh Khalifa bin Jassim bin Mohammed Al-Thani affirmed the role played by the chamber as an important part of the self-sufficiency strategy, noting that the private sector proved it is a real partner in the economic process. The private sector has become an active partner in the overall development process, especially in light of the considerable confidence and concrete support of the government for this sector, which has enabled it to contribute strongly to food security projects and to meet the needs of the local market for food products, especially poultry and milk. His Excellency said Qatar's non-oil exports increased by 35.1 percent in 2018 according to certificates of origin issued by Qatar Chamber. The total value of these exports amounted to QR24.4 billion compared to QR18.05 billion in 2017. (QNA)