Under the patronage of His Highness the Amir Sheikh Tamim bin Hamad al-Thani, the second annual Qatar Economic Forum, Powered by Bloomberg will get under way on Monday, bringing together global business leaders and heads of state, to tackle some of the world’s most pressing challenges through the lens of the Middle East.
This year's version will seek to address some of the most pressing global challenges such as supply chain issues, hardening inflation, rising interest rates and fears of economic slowdown. The discussions aim to lay a clear roadmap for the next phase of global economic growth.
The three-day forum will shed light on achieving equality in the long-term global economic recovery, the future of global markets and prospects for globalisation, transformations in the energy sector and the green economy, and mechanisms to reduce carbon emissions.
"Making conscientious decisions about the future of the global economy is a priority for governments and businesses, who are navigating a shifting financial landscape, new technologies, and a progressive focus on energy security,” HE the Minister of Commerce and Industry HE Sheikh Mohamed bin Hamad bin Qassim al-Thani said ahead of the forum.
He said the forum is an opportunity for dialogue that supports the country's strategic directive to produce impactful growth, while encouraging forward-looking economic co-operation, with a view to the upcoming FIFA World Cup 2022. The forum includes a tour to Al Thumama Stadium, one of the World Cup venues, today.
The event will also discuss the economic strategies adopted to diversify sources of income in a way that contributes to reducing climate change, eliminating poverty, reducing inflation, protecting the environment, in addition to investment opportunities in the sports sector, preparations to host the FIFA World Cup Qatar 2022, future technology prospects, and ways to support the renaissance of the African continent in the 21st century.
Being held under the theme 'Equalising the Global Recovery', the forum is expected to draw over 75 main-stage Qatari, regional and international speakers, and more than 500 global attendees, from chief executive officers to influential entrepreneurs and leaders of disruptive businesses.
Prominent speakers include HE the Minister of Finance Ali bin Ahmed al-Kuwari; HE the Minister of State for Energy Affairs Saad Sherida al-Kaabi; HE the Qatar Central Bank Governor Sheikh Bandar bin Mohamed bin Saoud al-Thani; Prime Minister of Georgia Irakli Garibashvili; First Lady of Namibia Monica Geingos; Minister of Finance of Egypt Dr Mohamed Ahmed Maait; Cabinet Secretary, Ministry of Interior and Co-ordination of National Government, Kenya, Dr Fred Matiang’i; Executive Secretary of the Economic Commission for Africa, United Nations, Vera Songwe; former US Secretary of Treasury Steven T Mnuchin; and FIFA President Gianni Infantino.
Qatar Economic Forum provides an important platform to highlight Qatar as a leading investment destination in the region and the world, and the incentives and investment opportunities that the State offers to investors, entrepreneurs and major international companies in the non-oil and value-added sectors, especially in areas that serve Qatar National Vision 2030 and the National Development Strategy 2018-2022, which aims to establish a diversified and competitive knowledge-based economy, Qatar News Agency (QNA) reports.
During the forum, progress made in the implementation of major development projects aimed at achieving the National Vision and the achievements made in preparation for hosting the FIFA World Cup Qatar 2022 will be reviewed.
QEF provides the opportunity to review the efforts of Qatar to consolidate its commitment to the global multilateral trading system, enhance its economic openness and strengthen cooperation with various trading partners around the world.
CEO of Bloomberg Media Scott Havens had said earlier that in the light of the global economic downturn caused by the Covid-19 pandemic, world leaders must take responsibility for achieving a comprehensive and sustainable economic recovery, adding that Bloomberg Media is proud to manage this important dialogue in Doha, which brings together policy innovators, thought leaders and industry experts to determine the course of the coming decades.
The importance of holding the forum in Doha lies in its strategic location linking Asia with Africa and beyond, and in its position as a major international diplomatic centre, the world's largest producer and export of liquefied natural gas, and hosts of the FIFA World Cup Qatar 2022.
The first edition of Qatar Economic Forum was held from June 21-23 last year, with the participation of more than 2,500 business leaders, heads of state and policy makers from all over the world, in addition to 100 speakers, including influential voices in the fields of business, banking and economic policies, who enriched the discussion on diverse topics addressed by the forum, such as leadership in a post-pandemic world, advance technology, sustainable world, markets and investment, energy and trade flows, changing consumer, the power of sports and a more inclusive world.
His Highness the Amir Sheikh Tamim bin Hamad al-Thani had inaugurated the first edition of QEF and delivered a speech in which he reviewed the reality of the global economy and future prospects and opportunities.
In his speech, His Highness the Amir stressed that the pandemic had re-posed major questions concerning the relation of modern societies to nature, the society's expectations from the State regarding public health policies, the State's relationship with the economy, and global co-operation in facing the challenges.
He also addressed the efforts made by the State to confront serious repercussions of the pandemic, saying "we have issued directives for adopting a strategy based on three main axes, which are protecting all members of the society by strengthening the medical sector; especially the public health sector, in addition to providing the necessary support to the economy in order to reduce the negative impacts of the pandemic, and by contributing to the international efforts against the virus by providing assistance to relevant countries and international organisations."
His Highness the Amir stressed that the next phase will not be easy economically and financially for any country, adding that everyone must cooperate in order to narrow the gap between the developed and the developing countries, especially in obtaining the vaccine and countering the repercussions of the pandemic. He called upon the leaders of countries, especially major industrialised nations, for more co-operation within the framework of the international system, sharing the responsibility in a manner that would pave the way for establishing an integrated global social and economic system in line with the sustainable global development goals to achieve wellbeing and stability of people.
Bloomberg founder Michael Bloomberg also spoke at the forum along with the presidents of South Africa, Rwanda, Armenia, Turkey and Senegal, in addition to the prime ministers of the United Kingdom, Cote d'Ivoire, Bangladesh and Georgia, as well as the president of the World Trade Organisation and head of the World Health Organisation.
One of the important sessions in the first forum was the one that discussed the developments taking place in the US economy as a result of the Covid-19 crisis, which the former Secretary of the Treasury Lawrence Summers and US businessman and founder of Bridgewater Associates Ray Dalio participated in. The participants agreed that the increase in inflation rate, the lack of labour in the American market, the attempt to hastily offer bonds, and the fluctuation in the price of the dollar herald a major crisis that will not harm the United States alone, but the whole world.
The former secretary of the Treasury stressed the need to make major changes in the labour market in order to absorb large employment rates, raise the minimum wage, and improve working conditions, as a first step to eliminate the high rate of inflation in the economy, noting that liquidity poses a major threat to the American economy. He added that there must be a systematic program of supply and demand, while increasing tax rates and reducing cash transfer rates.
The forum aims to prepare plans that support the growth of the global economy during the post-pandemic stage, in addition to rethink the prospects for the global economy through the perspective of the Middle East and North Africa region, and to take advantage of the current situation to create a new platform for innovation and dialogue between countries in order to chart a new path and build a better future for the next generations.
It also aims to identify opportunities, provide solutions and rethink the global economic landscape from the perspective of the Middle East. This forum comes in conjunction with the start of the world's exit from the economic shock caused by the Covid-19 pandemic, and at a time when there is an urgent need to provide opportunities for enlightened voices to meet and draw the features of next stage, give way to innovative thinking, establish new relationships, and adopt new approaches. The forum was successful in providing a vital platform for holding these important discussions.
The Qatar Economic Forum aims to prepare plans that support the growth of the global economy and benefit from the strategic location of Qatar, in addition to discussing ways to enhance international cooperation and communication in order to develop and support economic opportunities. It further aims to shed light on Qatar's efforts in leading economic growth, achieving comprehensive development goals, and consolidating its leading position as one of the most important investment destinations regionally and globally. (With inputs from QNA)
The three-day forum will shed light on achieving equality in the long-term global economic recovery, the future of global markets and prospects for globalisation, transformations in the energy sector and the green economy, and mechanisms to reduce carbon emissions.
"Making conscientious decisions about the future of the global economy is a priority for governments and businesses, who are navigating a shifting financial landscape, new technologies, and a progressive focus on energy security,” HE the Minister of Commerce and Industry HE Sheikh Mohamed bin Hamad bin Qassim al-Thani said ahead of the forum.
He said the forum is an opportunity for dialogue that supports the country's strategic directive to produce impactful growth, while encouraging forward-looking economic co-operation, with a view to the upcoming FIFA World Cup 2022. The forum includes a tour to Al Thumama Stadium, one of the World Cup venues, today.
The event will also discuss the economic strategies adopted to diversify sources of income in a way that contributes to reducing climate change, eliminating poverty, reducing inflation, protecting the environment, in addition to investment opportunities in the sports sector, preparations to host the FIFA World Cup Qatar 2022, future technology prospects, and ways to support the renaissance of the African continent in the 21st century.
Being held under the theme 'Equalising the Global Recovery', the forum is expected to draw over 75 main-stage Qatari, regional and international speakers, and more than 500 global attendees, from chief executive officers to influential entrepreneurs and leaders of disruptive businesses.
Prominent speakers include HE the Minister of Finance Ali bin Ahmed al-Kuwari; HE the Minister of State for Energy Affairs Saad Sherida al-Kaabi; HE the Qatar Central Bank Governor Sheikh Bandar bin Mohamed bin Saoud al-Thani; Prime Minister of Georgia Irakli Garibashvili; First Lady of Namibia Monica Geingos; Minister of Finance of Egypt Dr Mohamed Ahmed Maait; Cabinet Secretary, Ministry of Interior and Co-ordination of National Government, Kenya, Dr Fred Matiang’i; Executive Secretary of the Economic Commission for Africa, United Nations, Vera Songwe; former US Secretary of Treasury Steven T Mnuchin; and FIFA President Gianni Infantino.
Qatar Economic Forum provides an important platform to highlight Qatar as a leading investment destination in the region and the world, and the incentives and investment opportunities that the State offers to investors, entrepreneurs and major international companies in the non-oil and value-added sectors, especially in areas that serve Qatar National Vision 2030 and the National Development Strategy 2018-2022, which aims to establish a diversified and competitive knowledge-based economy, Qatar News Agency (QNA) reports.
During the forum, progress made in the implementation of major development projects aimed at achieving the National Vision and the achievements made in preparation for hosting the FIFA World Cup Qatar 2022 will be reviewed.
QEF provides the opportunity to review the efforts of Qatar to consolidate its commitment to the global multilateral trading system, enhance its economic openness and strengthen cooperation with various trading partners around the world.
CEO of Bloomberg Media Scott Havens had said earlier that in the light of the global economic downturn caused by the Covid-19 pandemic, world leaders must take responsibility for achieving a comprehensive and sustainable economic recovery, adding that Bloomberg Media is proud to manage this important dialogue in Doha, which brings together policy innovators, thought leaders and industry experts to determine the course of the coming decades.
The importance of holding the forum in Doha lies in its strategic location linking Asia with Africa and beyond, and in its position as a major international diplomatic centre, the world's largest producer and export of liquefied natural gas, and hosts of the FIFA World Cup Qatar 2022.
The first edition of Qatar Economic Forum was held from June 21-23 last year, with the participation of more than 2,500 business leaders, heads of state and policy makers from all over the world, in addition to 100 speakers, including influential voices in the fields of business, banking and economic policies, who enriched the discussion on diverse topics addressed by the forum, such as leadership in a post-pandemic world, advance technology, sustainable world, markets and investment, energy and trade flows, changing consumer, the power of sports and a more inclusive world.
His Highness the Amir Sheikh Tamim bin Hamad al-Thani had inaugurated the first edition of QEF and delivered a speech in which he reviewed the reality of the global economy and future prospects and opportunities.
In his speech, His Highness the Amir stressed that the pandemic had re-posed major questions concerning the relation of modern societies to nature, the society's expectations from the State regarding public health policies, the State's relationship with the economy, and global co-operation in facing the challenges.
He also addressed the efforts made by the State to confront serious repercussions of the pandemic, saying "we have issued directives for adopting a strategy based on three main axes, which are protecting all members of the society by strengthening the medical sector; especially the public health sector, in addition to providing the necessary support to the economy in order to reduce the negative impacts of the pandemic, and by contributing to the international efforts against the virus by providing assistance to relevant countries and international organisations."
His Highness the Amir stressed that the next phase will not be easy economically and financially for any country, adding that everyone must cooperate in order to narrow the gap between the developed and the developing countries, especially in obtaining the vaccine and countering the repercussions of the pandemic. He called upon the leaders of countries, especially major industrialised nations, for more co-operation within the framework of the international system, sharing the responsibility in a manner that would pave the way for establishing an integrated global social and economic system in line with the sustainable global development goals to achieve wellbeing and stability of people.
Bloomberg founder Michael Bloomberg also spoke at the forum along with the presidents of South Africa, Rwanda, Armenia, Turkey and Senegal, in addition to the prime ministers of the United Kingdom, Cote d'Ivoire, Bangladesh and Georgia, as well as the president of the World Trade Organisation and head of the World Health Organisation.
One of the important sessions in the first forum was the one that discussed the developments taking place in the US economy as a result of the Covid-19 crisis, which the former Secretary of the Treasury Lawrence Summers and US businessman and founder of Bridgewater Associates Ray Dalio participated in. The participants agreed that the increase in inflation rate, the lack of labour in the American market, the attempt to hastily offer bonds, and the fluctuation in the price of the dollar herald a major crisis that will not harm the United States alone, but the whole world.
The former secretary of the Treasury stressed the need to make major changes in the labour market in order to absorb large employment rates, raise the minimum wage, and improve working conditions, as a first step to eliminate the high rate of inflation in the economy, noting that liquidity poses a major threat to the American economy. He added that there must be a systematic program of supply and demand, while increasing tax rates and reducing cash transfer rates.
The forum aims to prepare plans that support the growth of the global economy during the post-pandemic stage, in addition to rethink the prospects for the global economy through the perspective of the Middle East and North Africa region, and to take advantage of the current situation to create a new platform for innovation and dialogue between countries in order to chart a new path and build a better future for the next generations.
It also aims to identify opportunities, provide solutions and rethink the global economic landscape from the perspective of the Middle East. This forum comes in conjunction with the start of the world's exit from the economic shock caused by the Covid-19 pandemic, and at a time when there is an urgent need to provide opportunities for enlightened voices to meet and draw the features of next stage, give way to innovative thinking, establish new relationships, and adopt new approaches. The forum was successful in providing a vital platform for holding these important discussions.
The Qatar Economic Forum aims to prepare plans that support the growth of the global economy and benefit from the strategic location of Qatar, in addition to discussing ways to enhance international cooperation and communication in order to develop and support economic opportunities. It further aims to shed light on Qatar's efforts in leading economic growth, achieving comprehensive development goals, and consolidating its leading position as one of the most important investment destinations regionally and globally. (With inputs from QNA)
