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Satyendra Pathak
Doha
Qatar has emerged as one of the most resilient, diverse and competitive economies in the region despite the challenges at the regional and global levels, Ministry of Commerce and Industry Trade Affairs Deputy Undersecretary Yahya bin Saeed al Nuaimi said on Tuesday.
Speaking at the second Business Continuity and Resilience Conference in Doha, Nuaimi said that Qatar has successfully implemented various measures aimed at maintaining its economic growth and launched initiatives that enhance the continuity of the business in the country.
"The wise economic policies of Qatar have helped support the private sector in becoming an active partner in the national economy. These policies have emanated from a belief in the vital role of the private sector in protecting the country from various geopolitical and economic changes," he said.
The state supported private sector institutions in many ways like promoting national products, developing local manufacturing companies and providing them with advanced industrial zones that meet all their needs.
"The state has also been keen to develop the business environment and implement a number of decisions supporting local investors, reducing the import of goods by obliging all ministries and government agencies to increase the usage of local products from 30 percent to 100 percent to stimulate national companies," he said.
The Ministry of Commerce and Industry, he said, seeks to bolster institutional practices to guarantee business continuity and enable Qatar-based companies to manage the various risks associated with changes taking place in the global economy.
He expressed hope that the conference will come up with practical recommendations that will contribute to enhancing the flexibility of the private sector and its ability to overcome the various risks and challenges that will lead Qatar towards achieving its 2030 national vision.
Held under the theme 'Towards a Reliable Economy', the conference was held under the patronage of the Ministry of Commerce and Industry and in strategic partnership with the Qatari Businessmen Association (QBA).
In a statement released on the occasion, QBA Chairman Sheikh Faisal bin Qassim al Thani said,"Walking in the footsteps of the country's wise leadership, QBA provides every possible support to Qatari companies to be fully prepared to confront any crisis. QBA achieves this by urging companies to adopt international standards, at the forefront of which is the establishment of effective risk management, business continuity and resilience programmes."
Undoubtedly, he said, economic flexibility is highly dependent on the extent to which businesses adopt effective continuity and resilience programmes in their strategic plans.
Sheikh Faisal, who is also the chairman of Al Faisal Holding, said that the conference will be important in helping companies explore new business models in coping with ongoing global changes.
"It is worth mentioning that the siege imposed Qatar had a role in alerting to this matter and highlighted the importance of joint cooperation and coordination between the government and employers to overcome the challenges. As a well-established and innovative company, Al Faisal Holding is committed to applying best practices in everything we do and under all circumstances," he said.
Earlier speaking at the opening session of the conference, Conference President and Business Continuity Institute (BCI) Qatar Forum Chairman Abdullatif Ali al Yafei expressed hope that the current edition of the conference will establish a new and serious dialogue between the participating economic institutions.
He pointed out that risk management and business continuity, especially in recent years, has become an integral part of the policy of companies operating in Qatar.
"Companies in Qatar have shown their great willingness to leverage one another's expertise in this area and present recommendations that are poised to make business continuity and resilience a mainstay at the strategic discussion table when planning for business," Yafei said.
During the conference, a number of companies and individuals were honoured with awards which included five categories: the Continuity and Resilience
Professional award (Public Sector) was won by Ooredoo Qatar's ERM Director Deniz Ozkaya; the Continuity and Resilience
Professional award (Private Sector) was won by Qatar Islamic Bank (QIB)'s Business Continuity Head Syed Abdus Salam; the best newcomer award was won by Aaroh Smart Business Solutions Associate Consultant Noor Hussan; the most resilient service-provider award was won by Milaha, and the award for the most effective recovery was won by Vodafone Qatar.
"We are very proud to have won the BCI Award for Continuity and Resilience Provider category. Milaha has always been a key enabler of Qatari trade and economy, and we have further proven our capability when our clients needed us most at the time of the blockade. Our wide range of services and operations have ensured continuity of business to our partners and clients who, in turn, are significant contributors to the Qatari economy. We thank the BCI for this recognition, and we congratulate the other winners for their well-deserved awards," Milaha
