Qatar aspires to be a diversified, prosperous knowledge-based economy: Prime minister

Qatar Tribune

20-05-2025

DOHA: Prime Minister and Minister of Foreign Affairs HE Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani has said that the State of Qatar aspires to be a diversified and prosperous economy based on knowledge and innovation, emulating the technological revolution, and characterised by flexibility and adaptability.
In his opening remarks at the fifth edition of the Qatar Economic Forum, held in partnership with Bloomberg, which kicked off on Tuesday under the theme 'The Road to 2030: Transforming the Global Economy', the prime ministeradded that Qatar aspires to be a beacon of technological advancement and a global hub for investment and business, built on trust and to remain a reliable partner, whether in energy or investment, as well as in diplomacy.
He continued: "From this perspective, we are working to translate this vision into a tangible reality by diversifying our foreign investments in a way that enhances strategic balance and contributes to building a sustainable, long-term economy."
In this context, the Prime Minister and Minister of Foreign Affairs noted that the Qatar Investment Authority continues to implement its vision through long-term strategic partnerships around the world, continuing this year with significant investments from the United States to Africa and even China.
He added, "These initiatives reflect our firm confidence in the dynamism of markets, particularly emerging ones, and their future potential."
On the local level, the Prime Minister and Minister of Foreign Affairs explained that the Qatari economy continued its positive performance, recording real growth of 2.4 percent in 2024, bringing the GDP to QR713 billion.
He added, "This growth is attributed to the remarkable progress in the non-oil sectors, which grew by 3.4 percent annually, a clear indication of steady progress toward achieving the goals of the Third National Development Strategy."
He pointed out that by the end of 2024, the volume of new foreign direct investment will reach QR9.9 billion, "which confirms the growing confidence of international investors in the Qatari economy and its strength."
He emphasized that the State of Qatar, to keep pace with this momentum, continues to develop its legislative and administrative framework to make Qatar's business environment more efficient and attractive to investors.
In this context, the Prime Minister and Minister of Foreign Affairs announced the launch of the first package of incentives for all investors, targeting strategic sectors including advanced manufacturing, modern technology, and logistics services. He stated that this package represents a qualitative step towards enhancing growth in sectors that constitute a fundamental pillar of the future of the national economy.
He noted that, in addition to industrial expansion, this year witnessed the launch of the 'Simaisma Tourism Project', one of the largest entertainment projects in the region. It is also a major driver of the real estate and tourism sectors and an effective engine for integrated development.
In the field of innovation and digital transformation, he stated that the State of Qatar has established itself as an emerging technology hub, noting in this context that Doha will host the second edition of the Web Summit in February 2025, with the participation of more than 25,000 people from 124 countries.
Sheikh Mohammed affirmed that the summit succeeded in creating exceptional communication between emerging technology hubs in Asia and Africa on the one hand, and major international companies and sovereign funds on the other, strengthening Qatar's position as a global hub for digital intersectionality.
He added, "In confirmation of this trend, the State of Qatar recently won the bid to host the Mobile World Congress (MWC) for five years, with the first edition to be held next November, a move that firmly places Qatar on the map of the global digital economy.
The Prime Minister and Minister of Foreign Affairs revealed that, in order to keep pace with this development and actively participate in it, the State of Qatar will launch a new project that aspires to global status, which will be unveiled this year. He emphasized in this context that these combined achievements reflect the State of Qatar's commitment to consolidating its position as a global economic and investment hub, and reinforce its seriousness in building a future based on diversity, innovation, and sustainability.
He stressed that the State of Qatar seeks to consolidate its role in building a more balanced global economy that promotes partnership and places people at the heart of development. He also expressed the State of Qatar's aspiration to be a platform where ideas converge and interests intersect in an environment fostered by peace and investment.
In his speech, the Prime Minister and Minister of Foreign Affairs called for an integrated approach that combines security, development, diplomacy, and growth, placing human dignity at the heart of the prosperity equation.
He began his speech by welcoming the forum participants, noting that Qatar has today become a destination for active international and diplomatic forums, and a global hub that brings together decision-makers and thinkers to build bridges of dialogue and cooperation.
He pointed out that the Qatar Economic Forum is being held this year amid major political and economic transformations, "which underscores the urgent need for dialogue platforms that bring together decision-makers, entrepreneurs, innovators, and thought leaders to chart the course for future investment opportunities and formulate a collective stance on the challenges we face, most notably international stability and sustainable growth".
He addressed the ongoing unprecedented humanitarian catastrophe in Gaza, noting that "despite Qatar's efforts, alongside its partners in the sisterly Arab Republic of Egypt and the United States of America, to bring an end to this tragic war, we unfortunately repeatedly witness the failure of any prospects for a ceasefire".
He added, "When the Israeli-American soldier Idan Alexander was released, we thought that moment would open the door to ending this tragedy. However, the response was an even more violent wave of bombing that claimed the lives of hundreds of innocent people. This irresponsible, aggressive behavior undermines every possible chance for peace."
He stressed that, despite this, the State of Qatar is committed to continuing its diplomatic efforts with its partners "until we stop this war, release all hostages and detainees, alleviate the suffering of our people in Gaza, and remove the region from the ongoing, imminent danger".
Regarding the Syrian issue, the Prime Minister and Minister of Foreign Affairs affirmed that "the decision to lift US sanctions on this brotherly country is an important step in the right direction," adding, "We look forward to similar steps following it. It is a clear message to the region and the world that the priority must be to give a real and full opportunity to people emerging from conflict to build a better future".
He considered that political stability and economic prosperity go hand in hand, and that neither can be achieved in isolation from the other.
He said, "From this standpoint, the State of Qatar pursues an effective diplomatic policy based on fair mediation and constructive action to resolve conflicts, recognizing that peace is the foundation for any sustainable development."
He continued, "We consider every diplomatic effort we make an investment in a more prosperous and secure future. When we see a young person in Gaza completing their education or a Syrian family returning home after displacement, we realize the profound impact stability has on people's lives and economies."
In conclusion, he wished the participants a fruitful forum and constructive discussions.
He also expressed his aspiration for a constructive and fruitful dialogue during the forum's sessions, and for new economic partnerships that would enhance the path of sustainable development in the region and the world.