Investment professionals, financiers and economists gathered today at The St. Regis Doha for the opening of the Euromoney Qatar Conference. The two-day event will be focusing on the post blockade strategy for Qatar and its development as a sustainable economy.
A ‘Breakfast Workshop’ took place prior to the official launch, discussing the global macro-political outlook of Qatar’s economy. His Excellency Mr Ali Shareef Al -Emadi, theMinister of Finance, took to the stage for the official opening and commented on the performance of the Qatari economy post the blockade saying: “The data on the financial and economic sectors during the first six months of 2018 clearly point to a strong national economy, and prove, once more, that we have long overcome the repercussions of the unjust blockade. The GDP has already increased by more than 5% the first half of 2018 compared to the same period in 2017.
The inflation has continued at reasonable rates, and Qatar’s stock market has fully recovered, with its performance rising among the best stock markets since the beginning of this year until now, which reflects investors’ confidence in the Qatari economy. The data provided, again, indicates successful State strategies and plans aimed at building a strong economy.
The Government continues to work and coordinate with the business and investment community to improve businesses and investments as well as to amend legislation and simplify procedures in line with the best international practices, which provides an opportunity to expand businesses across all sectors for local and international investors.
I am also happy to remind that the general budget for 2019, to be announced in the coming few days, will include a projected surplus, ensuring the stability and strength of the State’s financial situation as well as offering a future perspective that believes in our capacity to continue to grow and achieve a sustainable development by focusing on developing the Health and Education sectors and by completing infrastructure projects.”
Mr Al-Emadi, concluded his remarks, saying: “We also strongly support and encourage the private sector to build companies and joint projects with different countries in the world, thus enhancing bilateral relations and benefiting everyone.”
Dayone of the Euromoney Qatar Conference 2018 saw a series of keynote interviews and addresses given by senior government officials, academics and financiers. Abdulla Mubarak Al Khalifa, Acting Chief Executive Officer, QNB, Philippe Legrain, a critically acclaimed thinker and communicator with high-level policy experience, and Joseph Abraham, the Group Chief Executive Officer of Commercial Bank, who has extensive banking experience across both developed and emerging markets, all participated in the keynote sessions.
The day ended with a panel entitled Qatar’s economy – new direction, new opportunities that debated Qatar’s economy post blockade; the road to 2022; the future of Qatar’s natural resources; diversification and much more.
H.E. Sheikh Abdulla Bin Saoud Al-Thani, Governor of the Central Bank of Qatar spoke before the conference about Qatar’s economy after the blockade stating: “Around one and a half years now since the blockade and we have returned to a ‘business-as-usual’ mode in every aspect of our economy. There was no disruption in provisioning of financial services at any point following the blockade, and the response of the financial sector is praiseworthy.”
Day two of Euromoney Qatar will be opened by HE the Governor and will also feature a number of thematic panels discussing Qatar’s wealth management, the future of financial services in the country and sustainable finance.
This year’s Euromoney Conference was sponsored by Qatar National Bank as senior lead sponsor, Commercial Bank as lead sponsor, Qatar Development Bank as co-sponsor, and CFA Society, Qatar Finance and Business Academy and Qatar International Islamic Bank as exhibitors.
Commenting on the first day of the conference, Victoria Behn, Director, Middle East and Africa, Euromoney Conferences said: “We are pleased with the turnout and level of engagement from the private and public sector. Pertinent issues relating to Qatar’s economy and its financial sector were discussed making Euromoney Conference Qatar an important meeting point for senior government officials, financial institutions, investors, andQatari companies to convene and network around capital markets and finance. We look forward to welcoming our guests to day two tomorrow”.
Euromoney Conferences, the world’s leading organiser of events for capital markets and investment professionals, offers companies and governments a chance to connect with financial institutions by providing a vast and detailed overview on strategy and finances in a series of workshops, talks, interviews and panel discussions.
Credit: Press Release