DOHA: Qatar Chamber (QC) Chairman Sheikh Khalifa bin Jassim bin Mohamed Al Thani on Wednesday said around 32,000 new companies have been established in the country since the blockade was enforced two years ago. This is an increase of around 34 per cent over the previous two years.
In a statement on Wednesday, Sheikh Khalifa stressed the local private sector “proved its great ability in dealing with big challenges, as they adapted quickly to the blockade, in no small part thanks to the rapid steps adopted by the government”.
He said a number of factors 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. He noted the blockade had no impact on Qatar’s economy.
Sheikh Khalifa said the number of factories increased by around 17 per cent to reach 823 in 2019, compared to 707 in 2016. The number of permits for establishing factories reached 613 with total investments of QR34bn, compared to 466 permits in 2016 with investments of QR31bn.
He said all 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 already existed in one of the GCC member-countries.
He said the blockade provided a strong impetus towards 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. It also included providing more incentives to the private sector for promoting local industries, increasing production, enhancing relations with friendly countries and activating trade with countries around the world.
Highlighting QC’s role during the blockade, he said it had sought to remove all obstacles faced by the private sector. Sheikh Khalifa said QC urged merchants and businessmen to urgently find alternative means to import goods, especially food. He said Qatar’s non-oil exports increased by 35.1 per cent in 2018 according to certificates of origin issued by QC. The total value of these exports amounted to QR24.4bn compared to QR18.05bn in 2017.