The issuance of the law regulating partnership between public and private sectors was a crucial step in providing an appropriate legislative framework for ensuring the private sector participation in Qatar’s major development projects, Minister of Commerce & Industry H E Ali bin Ahmed Al Kuwari stated yesterday.
Addressing a video conference, hosted by Qatar Chamber, on ‘Developing Partnership between Public and Private Sectors’ yesterday, the Minister said that the PPP law will help boost the engagements and complementary relationship between the public and private sectors. It will provide a regulatory framework for the contractual relationships between both parties, he said.
The minister thanked the Amir HH Sheikh Tamim bin Hamad Al Thani for his interest and confidence in the private sector and issuance the law No. 12 of the year 2020. He also thanked the Prime Minister H E Sheikh Khalid bin Khlaifa bin Abdul Aziz for extending his unwavering support to the country’s private sector. This conference is being held under exceptional circumstances due to the spread of the COVID-19 pandemic, which has affected the global economy and its key productive sectors.
The economic consequences of this pandemic have constituted a strong motive for many countries to take precautionary measures to curb the current crisis and protect the private sector, he said.
The Minister said Qatar has established an integrated strategy based on the concerted efforts of all government agencies to provide a comprehensive package of support for Qatari companies and allocate QR75bn as financial and economic incentives for the private sector, including SMEs.
“The stimulus package contributed to mitigating burdens on SMEs and encouraging them to proceed in a way that supports the national economy to continue the march of prosperity toward the implementation of Qatar National Vision 2030,” the Minister added.
Delivering his speech, Qatar Chamber Chairman Sheikh Khalifa bin Jassim Al Thani said that the issuance of PPP law reflects the government’s confidence in the private sector that it would play a lead role in the State’s sustainable development.
Stressing the role of the new law, Sheikh Khalifa noted that it constituted a strong push for the private sector to implement its role as a genuine partner to the public sector in the development march.
Sheikh Khalifa noted that the Chamber played a key role in highlighting the idea of issuing a law regulating the PPP, pointing out that it held a conference on this issue in 2009, which recommended the need for legislation governing partnership between the two sectors.
The law provides the opportunity for offering more joint projects in various economic sectors, affirming that partnerships projects contribute to enhancing economic development and attracting more investment, especially that the private sector has become able to play a greater role in economic development, which is one of the key pillars of Qatar National Vision 2030.
QC Chairman noted that the PPP law would have a significant impact on activating the private sector and accelerating the initiation and implementation of projects.
The Public Works Authority (Ashghal) President Dr. Saad bin Ahmad Al Muhannadi said that the Authority has prepared a list of projects in which the private sector can participate within the requirements of the PPP law.
Al Muhannadi also noted that Ashghal has started to tender for some projects, especially in construction projects and sewage treatment, pointing out that other projects are under study and will be introduced after completing feasibility studies.
CEO of Qatar Financial Center (QFC) Yousuf Mohamed Al Jaida said that the conference aims to bring together institutions of both sectors under one umbrella to examine opportunities and exchange experience.
He noted that partnership between both sectors is essential for supporting the march of the state’s economic development, especially under the current circumstances of coronavirus pandemic.
“According to the International Monetary Fund (IMF) report, Qatar is expected to be the only country in the region to achieve 5 percent of GDP growth and 2.4 percent growth in the consumer index during 2021.” he added.
Head of the conference’s organizing committee Dr. Sheikh Thani bin Ali Al Thani said that the conference reviewed the most important regulatory and legal aspects of the PPP system and highlighted the new administrative frameworks that are necessary for the success of these joint projects. Sheikh Thani also said that the partnership projects would contribute to achieving the strategic objectives of the state, defined in Qatar National Vision 2030.