Officials during the webinar on ‘Business Recovery and Resilience for Qatari Enterprises’ organised by QICCA.
Qatar International Center for Conciliation and Arbitration (QICCA) Board Member for International Relations, Sheikh Dr Thani bin Ali Al Thani said that Arab economies attach special importance to companies in the private sector as they play a pivotal role in advancing economic growth.
This came during a webinar titled ‘Business Recovery and Resilience for Qatari Enterprises’ held by QICCA in cooperation with Badael Business Solutions on Tuesday.
Sheikh Thani also said that the speed of the economic recovery depends mainly on the ability of companies to resume their usual activities and to establish programs to enhance productivity and promote competitiveness and involve them in the development plans developed by the State. He noted that companies and business institutions faced during the crisis of COVID-19 pandemic a sharp decline of revenues and activities, pointing out that this prompted governments to issue decisions to help companies overcome the negative impacts of crisis.
“In view of the interest of countries to monitor the activity of emerging companies as a key driver of sustainable economic diversification, many companies sought to survive during the crisis by providing fast e-commerce solutions or setting up quick communication platforms with their customers, but some of them stumbled as a result of changing circumstances and inability to fulfill of their obligations,” he added.
Sheikh Thani also highlighted the legal challenges facing companies, stressing that the pandemic has caused great difficulties for companies to implement their contractual obligations as a case of force majeure or an emergency accident.
To solve these legal difficulties, he said that it is necessary to establish mechanisms that allow contractors to negotiate and review contract terms or suspend the implementation of obligations for a specific period.
For his part, Executive Director of Badeal for Business Solutions, Dr. Ahmed Alfaqeeh said that the webinar is an extension of the guideline that was launched in October 2020, which dealt with the most important issues related to recovery and resilience of businesses, noting that the webinar aims to raise corporate awareness of companies that may contribute to recovery, stability, and sustainability of businesses.
Alfaqeeh also noted that Badael in cooperation with QICCA would introduce the ‘Business Resilience Index’ to concerned entities in the State, affirming that it would be beneficial for all institutions, especially SMEs.
The panelists included Minas Khatchadourian, Legal Counsel of the Qatar International Center for Conciliation and Arbitration (QICCA), who outlined avoiding commercial disputes by using alternative means, while Khalid Al-Mana, Executive Director of Business Finance of Qatar Development Bank (QDB), delivered a presentation on ‘Current Business Models and the Future of SMEs’.
CEO of Gamar Leadership Group and Teacher of Adaptive Leadership at Harvard Adel Gamar explored the role of adaptive leadership and capacity building in business recovery and resilience.
