The Emir H H Sheikh Tamim bin Hamad Al Thani said yesterday that Qatar is determined to proceed with its development plans, despite the sharp decline in oil prices, through a number of measures including improving the efficiency of public spending and promoting the role of private sector in development projects.
The Emir was addressing the 45th ordinary session of the Advisory Council at its premises, which he inaugurated yesterday morning. Father Emir H H Sheikh Hamad bin Khalifa Al Thani also attended the opening.
Deputy Emir H H Sheikh Abdullah bin Hamad Al Thani, H E Sheikh Abdulaziz bin Khalifa Al Thani, Special Representative of the Emir, H H Sheikh Jassim bin Hamad Al Thani, H H Sheikh Abdullah bin Khalifa Al Thani, H E Sheikh Jassim bin Khalifa Al Thani, Prime Minister and Interior Minister H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani were also present, along with a number of ministers, members of the diplomatic corps and other dignitaries.
The Emir said that in spite of the sharp decline in oil and gas prices Qatar’s Gross Domestic Product (GDP) at constant-prices posted an annual growth rate of around 3.6% in 2015, in comparison with the average 1.9% growth rates in oil exporting countries in the Middle East, according to the IMF.
Qatar has maintained its credit rating, which is one of the highest in the world. It has also continued to assume top positions in the indices of Global Competitiveness.
"By presenting these figures we do not mean to underestimate the negative repercussions of the energy markets’ current crisis on our economy, but we want to illustrate by figures an actual reality, namely that our economy is still robust and credited with a high level of confidence by the global rating agencies. This is an accomplishment per se against the backdrop of the current circumstances,” said the Emir.
The Emir said Qatar is now in the process of launching the Second National Development Strategy 2017-2022 and highlighted the salient features of the new five-year plan, which include eliminating bureaucratic impediments facing investments.
The government has pledged to implement the standardisation of transactions procedures and the "single window" by the end of this year.
The priorities of the new strategy also include stimulating the private sector and directing it towards the most productive sectors, or service-cum-production ones that are compatible with the National Vision trends.
"We have taken advantage of the drop in prices to explore the potential for rationalising spending, and distinguishing necessary from unnecessary as well as beneficial from non-beneficial. Work will continue on increasing the efficiency of public spending and enhancing transparency and control through a close follow-up of all government projects and programs and focusing on major development projects. The synergy between fiscal and monetary policies to fight inflation, tackle liquidity pressures and strengthen the banking sector has been promoted," said the Emir.
The state has taken various measures to boost private sector participation such as: implementation of the new government tenders’ law; updating trade laws and legislations to liberalize certain goods and services from the commercial agents’ monopoly and permit non-agents to import them; updating corporate laws and legislations and method of drafting financial statements of companies so as to comply with the international standards; acting on finalizing a law on partnership between the public and private sectors which will enable awarding government projects to the private sector as well as ensuring their high-quality and low cost implementation; developing huge housing complexes for workers at the Industrial Area as well as in the economic and logistical zones.
In the area of infrastructure, the Emir said activities for developing projects for express ways network have been intensified across the country.
"Seven projects have been completed and the implementation of 15 projects is under way. Six other projects will be implemented at an estimated total cost of QR60bn. All these projects are due to be completed ahead of 2022," said the Emir.
Emir's speech praised
Ministers, Advisory Council Speaker and diplomatic circles have lauded the speech of the Emir describing it as a clear roadmap for the future of Qatar.
Minister of Public Health H E Dr Hanan Mohamed Al Kuwari said the speech clearly draws the features of the coming phase of the country's path.
The speech embodies the wise vision and leadership of H H the Emir towards more progress based on solid foundations and firm approach and lays the foundation for comprehensive and sustainable development on all fronts.
Speaker of the Advisory Council H E Mohamed bin Mubarak Al Khulaifi commended the Emir’s speech and said it outlined the key features of the nation's public policy, internally and externally, particularly the economical component of it, in the light of the current situations and the variables in both of the regional and international arenas.
Secretary-General of the Advisory Council H E Fahad bin Mubarak Al Khayareen said that the speech of the Emir has outlined the numerous achievements of the government in various sectors of the state, and developed the future plans to continue the economic and social prosperity to keep pace with the aspirations of the people in the light of unstable economic conditions.
He stressed the Advisory Council has been enjoying special patronage from H H the Emir and H H the Father Emir, who spared no effort in providing every assistance and care, and in appreciating the council's role by accepting its recommendations and issuing all the legislations though it.
The British Ambassador, Ajay Sharma, said: "For everyone living in Qatar – Qataris and foreigners alike – H H the Emir’s remarks at the opening session of the Shura Council are a key moment of the year. Qatar is a strategic partner of the UK, and the UK is committed to working with Qatar on the priorities outlined in His Highnesse’s speech."
