اخبار قطر اليوم – وطن نيوز
اخر اخبار قطر – اخبار قطر العاجلة
W6nnews.com ==== وطن === تاريخ النشر – 2024-10-09 13:05:00
Mohammed bin Towar Al Kuwari, First Vice Chairman of the Board of Directors of the Qatar Chamber, told Lusail: Transcript of interview – Salah Bidawi. His Excellency Mr. Mohammed bin Ahmed Towar Al Kuwari, First Vice Chairman of the Board of Directors of the Qatar Chamber, said that there are more than 12 major challenges facing companies and small and medium enterprises, and that overcoming these challenges requires government support by offering business opportunities and projects to the private sector, indicating that the government is the main driver of the business sectors, and therefore it is required to offer opportunities and projects to the private sector in order to The pace of business remains accelerating and economic activity continues to grow. Bin Towar pointed out in an interview with Lusail newspaper that the agricultural sector, for example, faces the challenge of continuity in the absence of a clear vision to support food industries. He called for the need to support workers in the food security sector by official bodies by setting a vision that supports their work, including purchasing their products and creating a plan to absorb them by establishing a food industry that absorbs their products. He also called for creating a generation of industrial investors, especially in the petrochemical industry, by establishing a support mechanism that enables them to establish various projects in this field, which Qatar is distinguished by as an oil and gas producing country. Bin Towar explained that there are other challenges facing companies in Qatar, the most prominent of which are weak financing, the complexity of bank guarantees, high rents, multiple licenses, and high investment costs, stressing the need for small and medium enterprises to have a clear and effective contribution to the major projects that are being established in the country, by giving them the opportunity to enter into these projects, and by providing support packages and additional investment incentives for this group that enables them to continue, grow and develop. Bin Towar appreciated the Ministry of Commerce and Industry’s decision to reduce service fees, considering it a step on the right path, adding: What is also required is support for private sector companies, greater facilities for companies, and reduction of fees for various other parties related to the private sector. The Qatari private sector is looking forward to more facilities and investment incentives that will benefit the national economy. The following is the text of the interview: What is the role of the Chamber in confronting the challenges that hinder the growth of small and medium enterprises? There is no doubt that small and medium enterprises are considered the backbone of any strong and diversified economy. They contribute significantly to creating job opportunities and introducing new products to the local market. Entrepreneurs and owners of small and emerging projects also have a leading role in the national economy. However, this sector faces some challenges that require concerted efforts to solve them so that these projects can continue and grow and become able to contribute to the comprehensive development process that the country is witnessing in various sectors. We believe that the most prominent of these challenges are weak financing, the complexity of bank guarantees, high rents, multiple licenses, high investment costs, exaggerated requirements from some parties, in addition to small investors’ lack of knowledge of the new laws that regulate entrepreneurship, and the inability to conduct feasibility studies capable of reading market requirements. This is in addition to the lack of planning, and the similarity of projects that provide the same product or service, most of which are limited to cafes and restaurants, in addition to the high operational costs of recruiting workers, rents, housing, and health insurance, not to mention the lack of experience among small investors, lack of knowledge, and lack of training. For its part, the Chamber seeks to enhance cooperation with the relevant authorities in the country to address these challenges and provide appropriate support to entrepreneurs and owners of emerging projects, by adopting initiatives and organizing events supporting this category and helping them promote their products through exhibitions in which they participate or organized by the Chamber. We also believe that small and medium-sized enterprises should have a clear and effective contribution to the major projects undertaken in the country, by providing support packages and additional investment incentives to this category that enable them to continue, grow and develop. The government is also required to work on offering more opportunities for the private sector, supported by facilities and a strategic plan to stimulate the economy, in addition to presenting major projects in which the private sector invests and supported by official authorities to stimulate the economy and stimulate various economic sectors. Greater facilities for companies. The Ministry of Commerce and Industry reduced its fees by a rate ranging from 30 to 90% on a large part of its services… What are the implications of this reduction on the development and investment environment during the past and future period? Firstly, we would like to appreciate the decision of the Ministry of Trade and Industry to reduce fees for the services it provides to the industry, trade and business development sectors, which in some sectors have reached 90%. We would also like to express our thanks, on behalf of the Qatar Chamber and the business community, to the esteemed government for its continued support for the private sector and its tireless endeavor to make room for it as a true partner of the public sector in the comprehensive development process in the country. We believe that this step will reflect positively on the country’s business sectors, in terms of contributing to enhancing the investment climate and opening broader opportunities for the private sector to invest in various economic sectors, but this requires other steps from official bodies such as supporting private sector companies, having greater facilities for companies, and reducing fees for various other parties related to the private sector. The Qatari private sector is looking forward to more facilities and investment incentives that will benefit the national economy in general, increase the attractiveness of investment in the country, increase reliance on the national product, and increase Qatari exports. The value of rents and investments. Does the rise in rents affect the development momentum in light of the recent reductions in service fees? Certainly, rental fees are still high and constitute an obstacle for small investors, but they are subject to the supply and demand equation, and we believe that they will decrease gradually and over time as there is abundance in the market. We believe that there is a need to allocate more industrial lands at nominal prices, as this will contribute to reducing the rise in rental prices. What is the value of investments that the State of Qatar attracted during the last year in various fields? There is no doubt that the country has succeeded in attracting major companies and major projects, but the business environment still needs government support that encourages the entry of foreign and local investors as well. It is true that the State of Qatar ranked first, according to annual data issued by FDI Intelligence, as the most attractive country for foreign projects in 2023, ahead of many countries. During the past year, the country attracted foreign investments estimated at US$23.7 billion, strengthening its position as a leading global investment destination. But where is the private sector regarding these investments? This is the question that must be answered. We believe that the private sector needs facilities and support from the state by increasing financing opportunities and encouraging the entry of Qatari companies as partners with international companies that come to invest in Qatar so that these international companies are attracted to the local market through their contracts with Qatari companies, especially in the industrial sector and industries that require high technologies, to achieve the state’s goals in localizing industries that depend on modern technology. What is the contribution of SMEs to non-oil GDP? We believe that the contribution rate of small and medium-sized companies to the non-oil GDP is still below the level of our ambitions, as it does not exceed 20%. We believe that increasing this percentage requires state support for small and medium-sized companies. For example, but not limited to, in recent years we have seen many local investments in the food security sector, and Qatari businessmen have defied climate and environmental factors and pumped money into agricultural and food projects. However, they need state support to be able to continue. What is required is a clear vision to support industries. Food… This applies to other sectors, as small and medium-sized companies need state support to have an important role in economic activity. Reducing commercial bank fees. The role of banks in providing suitable solutions for entrepreneurs seeking to expand their businesses or create new projects? Banks play a vital and pioneering role in supporting entrepreneurship and helping entrepreneurs establish, develop and expand their businesses, through financing projects and creating financing programs that support entrepreneurs’ projects, in addition to the role played by Qatar Development Bank in supporting entrepreneurs and providing training and consulting services and supporting business incubators and growth accelerators. However, we believe that there is a need to increase the capital of Qatar Development Bank to enable it to expand in corporate financing. As for commercial banks, there is an urgent need to reduce fees for banking services provided by these banks to companies and the business sector, in line with the recent ministerial decisions of reducing fees for services provided by the Ministry of Commerce and Industry, and reducing the rental value of lands in the industrial zone affiliated with the Ministry of Municipality, and in a way that supports the investment and business climate in Qatar. We believe that reducing banking services fees can help reduce the burden on companies and the business sector, for example commercial loan fees, financing and refinancing fees, financing facility fees and commissions, project contract financing fees, mortgage financing, import financing, letters of credit fees, account and commercial card services fees, exports, and many other services that banks provide to business sectors. The role of Qatar Chamber in supporting small and medium enterprises? The Qatar Chamber attaches great importance to small and medium-sized companies based on their vital role in the national economy. In this context, the Chamber cooperates with the relevant authorities in the country to support this category, solve all the obstacles it faces, adopt initiatives that support it, and organize competitions that support the innovative ideas of entrepreneurs. It also hosts conferences, forums and workshops that discuss ways to develop these projects, the most prominent of which is the Small and Medium Enterprises Conference, which reviewed in three versions successful experiences in a number of foreign countries. The Chamber also helps entrepreneurs and owners of startup companies promote their products through exhibitions organized or participated in by the Chamber, most notably the Made in Qatar exhibition. Economic diversification What are the most prominent sectors that will accelerate the economic diversification process in Qatar? The economic diversification strategy is one of the most important goals of the Qatar National Vision 2030, and the state is striving to achieve this strategic goal. We believe that there are many sectors that constitute the basic pillars for diversifying sources of income away from dependence on the oil and gas sector. These sectors include technology, innovation, renewable energy, logistics, tourism, hospitality, agriculture, food security, industry of all kinds, especially petrochemicals, education, health care, and others. In general, Qatar has tremendous potential to achieve successful economic diversification, while continuing to invest in infrastructure, developing legislation, and enhancing technology and innovation, but we also emphasize that achieving economic diversification requires providing government support to the private sector by creating investment opportunities for the private sector, and contracting with foreign companies through local companies. In addition, there are many Qatari companies that have experience in the global market, but they need government support in order to become global companies. There are viable investment opportunities in many countries, but Qatari companies need support in order to invest in them and become global. The importance of focusing on governance, environment and social development standards? There is a close relationship between governance, environment and social development (ESG) standards, achieving sustainable development and promoting economic growth. Therefore, these standards have become an integral part of corporate strategies in the business community. Applying these standards contributes to achieving several goals, including improving the reputation of companies, attracting investments, reducing risks, business sustainability, promoting innovation and development, and contributing to achieving Qatar Vision 2030, which focuses on achieving sustainability in all fields. In this regard, in 2020, Qatar Chamber joined the United Nations Global Compact, which is considered the largest global initiative for corporate sustainability, as the Chamber raises awareness of the private sector about this initiative and pushes it to participate in implementing the ten principles of the United Nations Global Compact.
