Tuesday, May 21, 2019
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'Qatar beats siege with array of economic legislations'

'Qatar beats siege with array of economic legislations'

Hisham Aljundi
QATAR has worked hard at several levels to combat the effects of the unjust siege imposed on the country by its neighbours a year ago, and passing new legislations have been one vital area among them.
Speaking to Qatar Tribune, Qatari lawyer Rashid al Saad explained how the wise leadership of Qatar passed one law after another to overcome the effects of the blockade.
According to him, an array of economic legislations boosted Qatar's position in the region and internationally.
"The recent legislations contributed to opening up of Qatar to the world and motivated investors to come to the country to explore opportunities," he said.
He pointed out that with the help of these economic legislations Qatar proved to the world that it can overcome the effects of the siege.
Lawyer Saad said that from day 1 of the unjust siege, Qatar realised that the blockade countries wanted to subjugate it politically through economic pressure and they tried in all ways to push the local economy to collapse.
"One of the most significant legislations that helped reduce the economic impact of the blockade was that non-Qataris could now own property100 percent instead of 49 percent in real estate or business activities", he added.
According to him, this has drawn into the country many new investors in the private sector.
He, however, added that the new legislations have also provided motivations for the local industry to boost production.
"For instance, the Amir His Highness Sheikh Tamim bin Hamad al Thani directed last year to amend Law no 34 of 2005, which is related to investment in the free zones, and that was a big boost to the local economy," Saad said.
He added that the Government also issued a new law to exempt citizens of 80 countries from obtaining visa for Qatar, which contributed to boosting the country's tourism.
Moreover, Saad said that the other legislation Qatar has made to combat the siege related to the formation of the compensations committee."Qatar has formed the compensations committee to compensate to individuals and organisations, public and private, incurring losses because of the blockade," he remarked.


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