Balanced economic policies and its robust relations with various countries across the globe have helped Qatar to tackle the ongoing diplomatic embargo by the Saudi-led quartet. The siege has no impact on projects related to 2022 FIFA World Cup, which are progressing ahead of schedule, according to a top official of Qatar Chamber (QC).
“The siege did not affect the major construction and infrastructure projects in Qatar, as all the construction projects related to the 2022 World Cup and infrastructure projects are proceeding well ahead of schedule,” QC first vice chairman Mohamed bin Towar al-Kuwari told an international conference organised by the Ministry of Commerce and Industry and China-based Global Economic Development Forum.
A recent International Monetary Fund report said Qatar has contained the effect of the unjust siege, thus enabling it to grow faster this year and helping the overall Gulf Co-operation Council economies to expand faster.
Appreciative of the role played by the private sector amidst the siege, al-Kuwari said Qatari businessmen have made great efforts to find alternative sources to ensure the continued flow of goods without interruption.
Highlighting that the siege was a catalyst for growing investments in the industrial sector, he said new factories have been established in various sectors, which led to 14% growth of the number of factories that started production during the first year of the siege. He added that industrial investment opportunities have been offered in many sectors.
Recently, QC chairman Sheikh Khalifa bin Jassim al-Thani said the number of new companies registered with the chamber since the beginning of the siege until the end of August 2018 reached about 21,000.
Al-Kuwari said Qatar has dealt with the crisis with high professionalism by establishing new direct maritime lines linking Hamad Port to many ports across the world to keep the movement of exports and imports intact so as not to affect the local market, which led to the containment of the unjust siege in a short time.