By Raynald C Rivera
DOHA: Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim Al Thani yesterday exhorted Qatari youth to be entrepreneurs to diversify the economy in light of the decline in oil prices.
He was delivering keynote speech at the opening ceremony of the eighth annual Empower youth conference organised by Reach Out To Asia (ROTA) under the theme ‘Innovation in Youth Social Entrepreneurship.’
The three-day forum, attended by over 450 youth from around the world, was inaugurated by H E Sheikha Al Mayassa bint Hamad bin Khalifa Al Thani, Chairperson, ROTA.
The Minister stressed that entrepreneurship is not a choice but a must and urged youth to be entrepreneurs rather than work in the public sector.
“Ninety-three percent of our labour force is in the public sector, while the remaining seven percent is in the private sector as entrepreneurs. We have to reverse the figures.
“We want the biggest number of Qataris to be entrepreneurs, exporters and businessmen and here we rely on you.
“Since Qatar believes in the importance of innovation as a key factor in the success of small and medium enterprises, the government is supporting youth to create their entrepreneurial projects to diversify our sources of income away from the oil and gas sector, especially with the decline in oil prices,” he said.
To show its keenness to help small and medium enterprises, the government has enhanced services, easing the process in opening businesses.
“We have tried to facilitate everything that has to do with this sector. Earlier, to establish a company, the process was very lengthy.
“We have 128 services at the ministry and we have re-engineered 45 through a new application, therefore, you don’t have to come to the ministry to avail of the services, such as registering your company. All these are to facilitate entrepreneurship.
“The state has established Qatar Development Bank and other sources of support for entrepreneurs. All these are at your disposal to help you translate your innovative ideas into reality,” the Minister added.
The Minister noted the crucial role the non-hydrocarbon sector plays in the national economy which has significantly improved. The sector’s contribution to the GDP increased from 45 percent in 2008 to 49 percent in 2014.
“Investment in infrastructure is important, however we have other important sectors such as tourism, logistics, services and industries which are emerging and very promising.”
He encouraged youth to be innovative entrepreneurs to have a market that does not rely on the state budget but one that exports goods and services abroad.
“This is how we will create an alternative economy and all these will depend on your creativity and innovation.”
The Minister praised the success of the conference since its inception in 2009, with the launch of several youth initiatives and gaining global reputation for empowering youth to innovate and unlock their potential.
The Peninsula
