logo
PwC Middle East in Qatar accelerates SME momentum in support of NDS-3 priorities

PwC Middle East in Qatar accelerates SME momentum in support of NDS-3 priorities

Zawya06-05-2025

Doha, Qatar – As Qatar redefines growth under its third National Development Strategy (NDS-3), PwC Middle East brought together local CEOs and SME leaders to unlock new opportunities for SME innovation, resilience and long-term impact. The session underscored the critical role SMEs play in driving economic growth, and the importance of robust public-private partnerships (PPPs) in enabling the advancement of local businesses.
Held at PwC's Doha office, the exclusive gathering served as a platform for aligning private sector ambitions with national priorities, reinforcing the essential role of SMEs in achieving economic transformation. The event marked another milestone in PwC Middle East's long-term strategy to act as a catalyst for public-private collaboration and to drive value creation across key sectors.
PwC leaders shared forward-thinking insights, from market dynamics to digital reinvention, emphasising the critical role of data, AI, and strategic funding in unlocking SME potential. The discussion highlighted how resilient business models and bold digital shifts can help SMEs adapt and lead in a rapidly evolving economic landscape.
'SMEs are at the heart of Qatar's transformation', said Bassam Hajhamad, Qatar Country Senior Partner and Consulting Lead at PwC Middle East. 'We're here to fuel that momentum, bringing leaders together to spark bold ideas, share practical insights, and accelerate progress. By creating a space and platform for real dialogue and collaboration, we're helping business leaders turn ambition into impact, aligned with the goals of NDS-3.'
Rami Nazer, PwC Middle East's EMEA Government & Public Sector Leader, led a high-impact panel that tackled key growth levers, regulatory enablement, access to funding, digital transformation, and competitiveness, all core pillars of NDS-3. The discussion brought together influential voices from local private companies, global SME funds, and public sector representatives. They each offered perspectives on what it will take for Qatar's SMEs to lead the next wave of economic growth.
As a strategic partner of both public and private sectors in Qatar, PwC Middle East in Qatar is committed to helping SMEs adapt and lead. Through strong collaboration and deep expertise, we aim to accelerate progress so businesses can continue shaping the future with confidence.
About PwC
At PwC, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We're a tech-forward, people-empowered network with more than 370,000 people in 149 countries. Across audit and assurance, tax and legal, deals and consulting we help build, accelerate and sustain momentum.
Established in the Middle East for over 40 years, PwC Middle East has 30 offices across 12 countries in the region with 12,000 people.
PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

World Bank raises UAE growth forecast for 2025 and 2026
World Bank raises UAE growth forecast for 2025 and 2026

Khaleej Times

time2 hours ago

  • Khaleej Times

World Bank raises UAE growth forecast for 2025 and 2026

The World Bank has raised its economic growth forecasts for the UAE for 2025 and 2026, citing robust expansion in both hydrocarbon and non-oil sectors. This growth is expected to offset the negative impact of weakening global demand and lower oil prices. According to the World Bank's latest Global Economic Prospects report, released on Tuesday, the UAE's GDP growth forecast for 2025 has been revised upwards by 0.6 percentage points to 4.6 per cent, while the 2026 forecast was increased by 0.8 percentage points to 4.9 per cent. The Bank also projects a 4.9 per cent economic expansion in 2027. Growth across the GCC region is also expected to accelerate, reaching 3.2 per cent in 2025, 4.5 per cent in 2026, and 4.8 per cent in 2027. 'The phase-out of Opec+ oil production cuts starting in April 2025 is expected to lead to higher oil output, despite anticipated lower oil prices driven by weak global demand. Growth will also continue to be supported by expanding non-oil sectors — particularly manufacturing, construction, and services — in economies including Bahrain, Kuwait, Oman, and the UAE,' the World Bank stated. In April, Opec+ surprised markets by announcing a larger-than-expected increase in oil output for May, despite weak prices and subdued demand. The group's decision to extend the 411,000 barrels-per-day production increase into June raised concerns about a potential global supply surplus. In a separate projection released earlier this year, the International Monetary Fund (IMF) estimated the UAE's GDP would grow by four per cent in 2025 and five per cent in 2026. Meanwhile, UAE Minister of Economy Abdullah bin Touq Al Marri stated that he expects the economy to grow by 5-6 per cent in 2025, fuelled by strong performance in key sectors such as technology, renewable energy, trade, financial services, and infrastructure. Slowing but no recession Globally, the World Bank warned that escalating trade tensions and policy uncertainty are expected to slow growth in 2025 to its weakest pace since 2008 – excluding official recessions. Growth forecasts have been revised downward for nearly 70 per cent of countries worldwide, across all regions and income levels. The Bank now expects global GDP to grow by just 2.3 per cent in 2025 – almost half a percentage point lower than earlier projections. 'A global recession is not expected,' the report said. 'However, if these forecasts hold, average global growth during the first seven years of the 2020s will be the slowest of any decade since the 1960s.' Indermit Gill, chief economist at the World Bank, noted a concerning long-term trend for developing countries. 'Outside of Asia, the developing world is becoming a development-free zone. Growth in developing economies has declined steadily – from six per cent annually in the 2000s, to five per cent in the 2010s, and now to under four per cent in the 2020s.' This downward trend parallels a decline in global trade growth, which has slowed from an average of five per cent in the 2000s to below three per cent in the current decade. Investment growth has also weakened, while global debt levels have surged to record highs. In 2025, growth is expected to decelerate in nearly 60 per cent of developing economies, with average growth projected at 3.8 per cent. This figure is forecast to rise slightly to 3.9 pe cent in 2026 and 2027 – still more than a full percentage point below the average growth seen during the 2010s. For low-income countries, the World Bank projects a 5.3 per cent growth rate in 2025, marking a 0.4 percentage point downgrade from previous forecasts. At the same time, higher tariffs and tight labor markets are pushing global inflation upwards, with prices expected to rise by an average of 2.9 per cent – remaining above pre-pandemic levels. Nonetheless, the World Bank notes that global growth could rebound more quickly if leading economies successfully reduce trade tensions and navigate policy challenges.

Qatar Islamic finance assets hit $188bn
Qatar Islamic finance assets hit $188bn

Arabian Business

time2 hours ago

  • Arabian Business

Qatar Islamic finance assets hit $188bn

Islamic finance assets in Qatar grew by 4.1 per cent to reach QR683bn ($187.6bn) in 2024, according to a report by Bait Al Mashura Financial Consulting. The report, which monitors the business results of Islamic finance institutions for 2024, showed that Islamic banks accounted for 87.4 per cent of these assets, while Islamic sukuk accounted for 11.2 per cent, Takaful insurance companies accounted for 0.7 per cent, and the remaining shares were distributed among investment funds and other Islamic financial institutions. It also noted that Islamic banks' assets grew by 3.9 per cent in 2024, reaching QR585.5bn ($160.8bn). Islamic finance in Qatar Deposits also rose by 8.2 per cent to QR 339.1bn ($93.2bn), with private sector deposits accounting for 57 per cent. Financing reached QR401.5bn ($110.3bn), a 4.9 per cent increase, primarily directed towards the real estate and government sectors, followed by personal financing. Revenues grew by 12.6 per cent to QR29.5bn ($8.1bn), and profits reached QR8.7bn ($2.4bn), a 6 per cent growth rate. As for Takaful insurance sector, the report stated that Takaful insurance companies' assets grew by 7.1 per cent year-on-year, reaching QR5.1bn ($1.5bn) in 2024. Policyholder assets also grew by 6.3 per cent, reaching QR2.6bn ($714m), while insurance subscriptions increased by 18.6 per cent, exceeding QR1.9bn ($522m). Takaful insurance companies' operating results varied between achieving insurance surpluses and recording insurance deficits. Regarding Islamic finance companies, the report stated that their assets reached QR2.53bn ($695m), a marginal increase of 0.8 per cent year-on-year in 2024. Financing provided by these companies increased by 5.7 per cent to QR1.9bn ($522m), and their revenues reached QR277.2m ($76m), a 14.7 per cent increase. Revenues from financing and investment activities represented 84 per cent of the total revenues. The operating results of Islamic finance companies varied between achieving profits totalling more than QR178.5m ($49m) and incurring losses of approximately QR12m ($3.3m). Regarding Islamic investment companies, the report indicated that the assets of the two Islamic investment companies grew by 5.2 per cent, reaching QR549.5m ($151m), while their revenues reached QR59.7m ($16.4m), a growth of 44.1 per cent. Their operating results varied between achieving profits and incurring losses, with profits amounting to QR17.5m ($4.8m). In the field of Islamic Sukuk, Islamic Sukuk issuances increased by 161 per cent. Islamic banks issued Sukuk worth QR9.5bn ($2.6bn) in 2024, a 300 per cent increase. Qatar Central Bank issued Sukuk worth QR16.9bn ($4.6bn) in 2024, a 118.5 per cent increase compared to 2023. Regarding Islamic investment funds, the report noted that assets of these funds amounted to QR944.6m ($259.5m), a 1 per cent increase, and their performance varied during 2024. On the Qatar Stock Exchange, the Al Rayan Islamic Index closed up 2.23 per cent, while the performance of listed Islamic finance companies varied between increases of 2.3 per cent and decreases of 19.6 per cent. According to the report, the Islamic financial sector in the State of Qatar is divided into four main sectors: Islamic banks Takaful insurance companies Islamic finance companies Islamic investment companies In addition, there are Islamic finance products such as Sukuk, investment funds, and Islamic indices. Dr. Khalid bin Ibrahim Al Sulaiti, Vice Chairman of Bait Al Mashura Financial Consulting, said: 'The Islamic Finance in Qatar Report monitors the performance of Islamic finance institutions in the country, including Islamic banks, Takaful insurance companies, and Islamic finance and investment companies. 'It also reviews the performance of Islamic financial products, such as investment funds and Islamic sukuk, tracks the movement of the Islamic financial market, and provides an analysis of the overall performance of the Qatari economy.' He added that Qatar is consolidating its position as a major centre for the Islamic finance industry globally, and growth prospects appear promising. Meanwhile, the sector itself witnessed significant transformations and qualitative developments in performance, expansion, and supporting technologies over the past year. This reinforces the need to keep pace with these changes through data analysis and trend monitoring, in order to provide a more comprehensive and accurate vision of the present and future prospects, striving to achieve a balance between Sharia dimensions, development goals, and economic and social sustainability.

Qatar: Digital infrastructure set to power new waves of economic activity
Qatar: Digital infrastructure set to power new waves of economic activity

Zawya

time5 hours ago

  • Zawya

Qatar: Digital infrastructure set to power new waves of economic activity

Doha, Qatar: As Qatar steadily advances toward the goals outlined in its National Vision 2030, the country's expanding digital infrastructure is poised to become a major catalyst for economic diversification, innovation, and long-term growth. Over the past two years, Qatar has made significant strides in building a robust technological foundation that supports not just government modernization, but also private sector transformation, an official said. From AI-enabled platforms and smart services to local data centers and cybersecurity frameworks, the nation is equipping itself to thrive in a rapidly digitising global economy. 'The technology market in Qatar is experiencing remarkable growth and is a critical enabler of the Qatar National Vision 2030,' Ghassan Kosta, Regional General Manager for Google Cloud in Qatar, Oman, Bahrain, and Iraq, told The Peninsula. 'There's a clear commitment from the government and businesses to leverage technology for economic diversification, innovation, and enhanced public services.' Much of this progress has been driven by strategic investments in cloud computing, artificial intelligence, machine learning, and secure digital infrastructure. These advancements are already yielding tangible benefits: enabling faster service delivery, supporting data sovereignty, and opening up opportunities for local innovation. 'Our approach is to respond to market needs and invest where it makes sense to support our customers' growth and innovation. The launch of our Doha cloud region was a significant investment and a testament to our commitment to Qatar and the Middle East,' Kosta noted. The Doha cloud region has played a key role in accelerating digital transformation across sectors. 'It has enabled organisations to modernise their IT infrastructure, improve agility, and scale their operations efficiently,' he said. 'It also supports enhanced data residency and security — critical requirements for Qatari institutions.' Cybersecurity has emerged as a central pillar of this infrastructure growth. 'Security is a core tenet of Google Cloud. We provide a secure-by-design infrastructure and a comprehensive suite of cybersecurity solutions to help Qatari organizations protect their data and assets,' Kosta emphasised. Training and skill development are also a major focus. 'Our Center of Excellence in Qatar aims to foster local innovation and research on cloud-based solutions. Through initiatives like this and various training programs, we are helping to build a skilled local talent pool capable of driving Qatar's digital future,' he said. The economic impact of these developments is expected to be substantial. Kosta stated, 'Research we commissioned indicated that the Doha cloud region is expected to drive significant economic activity and support job creation in Qatar. 'We are proud to be a trusted partner in Qatar's digital journey, providing the 'new way to the cloud' with our AI-powered solutions and planet-scale infrastructure,' he added. With technology now viewed as both a tool and an engine of growth, Qatar is firmly positioning itself as a regional leader in digital innovation — ready to power new waves of economic activity and shape a more connected, knowledge-based future. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store