SENIOR Qatari leaders have taken to the stage of The Euromoney Qatar Conference 2013 to present the launch of a new stage of sustainable development for the Qatari economy, and outline what the rise of Qatar means for the global economy. Abdullah bin Nasser bin Khalifa Al-Thani, Prime Minister, Qatar, said the event was taking place during a key period of transition for Qatar and the wider world economy. Qatar has seen the smooth and effective transfer of power during 2013, while the international economy has taken tentative steps towards recovery. The Euromoney Qatar Conference is co-hosted by Qatar Central Bank and runs until today (Wednesday) at The Ritz-Carlton, Doha. “Qatar took effective action during the global economic crisis to ensure stability and sustainable development, and we are now embarking on a new phase of sustainable development,” the prime minister said. “The focus of this new phase requires government support to diversify the national economy, and support the expansion of non-oil and gas sectors. It also requires the active participation of the private sector, to encourage positive competition and to support the employment, training and development of young people.” Ali Shareef Al-Emadi, Minister of Finance, Qatar, spoke on the role of the financial sector in supporting stability and ensuring the achievement of the Qatar National Vision 2030. In particular, he focused upon the role of both local and international financial institutions in reducing risk, without reducing opportunities for economic development. “Financial stability requires sound fiscal policies and the development of a financial system that can cope with risks and boost the capacity of the national economic system to absorb risks. The next phase of development in Qatar will be driven by large-scale infrastructure projects, which will require the input and support of the private sector, and which will deliver a major contribution to the welfare of the citizens of Qatar,” he said. Sheikh Abdullah bin Saud Al Thani, Governor of the Qatar Central Bank, highlighted the measures taken by the bank to date, and also indicated the strong plans in place to ensure long-term sustainable development. “Qatar Central Bank has launched initiatives to promote the effectiveness of the finance sector in reducing risk, developing capital markets, and increasing the stability of financial processes. Just recently, we have launched a strategy for the development of capital markets with other ministries, based on the Qatar National Vision 2030,” he said. — SG
