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Qatar’s business confidence on the rise one year after blockade

  • 11 June 2018
  • Author: Tony
  • Number of views: 9515
Qatar’s business confidence on the rise one year after blockade

Tribune News Network - Doha : 

According to The Business Year’s preliminary market research, business sentiment in Qatar is positive. Food security, tourism, and the upcoming 2022 FIFA World Cup are helping to maintain the dynamism of Qatar’s economy.

International media group The Business Year (TBY) is currently working on its fifth annual publication on the Qatari business climate, bringing its C-level readership the latest developments in Qatar’s economy. Interviewing top business people in all major companies, TBY is able to pinpoint trends as they happen in the market.

In an interview with TBY, Aysha Al-Mudahka, CEO of the Qatar Business Incubation Center (QBIC), stated “We saw a 200% increase in applications for our start-up programme after the embargo, and this demonstrated the strength and vitality of the Qatari economy. There were definitely certain issues regarding supply chains in the region, though with time we managed to source new partnerships.”

Another interviewee, Ettore Rodaro, Executive Vice President of Qatar Executive, the private jet company of Qatar Airways, stated: “With the blockade, we accelerated a strategy that we had put in place prior to the blockade. Traditionally, we flew our private jets back to Qatar empty, but we simply changed our strategy and ground planes in the destination city until we have another flight booked from the same region.” Additionally, Qatar Executive is planning on opening commercial offices in Shanghai, Moscow, New York, and London to capitalise on the outbound capacity of these markets. 

In another interview for TBY, Hossam Mostafa, CEO of Al Qamra Holding, provided some details about the first fish-farming project in Qatar. “We are going to have higher level of self-sufficiency in the Qatari market. Al Qamra Holding should be able to reach 85% of the Qatar market with this production, which will progressively increase so that we can reach 100% by the end of 2019,” Mostafa said.

“Overall, Qatar's business community is feeling confident about economic growth.  Obviously, companies were faced with many challenges just after the blockade, but being forced to think outside the box has created more opportunities.” added TBY CEO Ayse Valentin.”

Featuring over 150 face-to-face interviews with top business and political leaders, The Business Year: Qatar 2019 will be among the most comprehensive annual economic publications available internationally and reach a highly influential global audience through a full spectrum of interactive media platforms. To be published in January 2019, all the content will be also available in three other high-profile business platforms: Bloomberg Terminal, Thomson Reuters Eikon, and Dow Jones Factiva.

In Qatar TBY is working in partnership with the Ministry of Economy and Commerce to assess trends and developments in all major economic sectors of the country, including finance, energy, industry, ICT, transport, real estate and construction, agriculture, health and education, and tourism. They recently met with public officials from the Ministry to start preparations for the upcoming TBY Roundtable on Foreign Direct Investment in Qatar. 
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