Qatar Financial Center Authority reaffirms its commitment to business and diversification. The Qatar Financial Centre Authority (QFCA) reaffirmed yesterday its commitment to business and diversification in response to regional developments.
Echoing HE the Minister of Finance and QFC Authority chairman Ali Sherif al-Emadi, QFCA CEO Yousuf Mohamed al-Jaida said, “Current regional developments do not deter us from our growth objectives and plans. We will continue to carry on our operations as usual and remain committed to our mandate to diversify the economy in line with the Qatar National Vision 2030.”
He added, “There are a host of opportunities for various local and international businesses to expand their operations and take part in Qatar’s over $200bn mega-projects. We remain just as confident in our capabilities to attract foreign direct investments and enable our local firms to continue to prosper and grow not only here in Qatar, but across the Mena (Middle East and North Africa) region as well.”
Al-Jaida went on to elaborate that fluctuating market conditions are a short-term reaction to recent regional developments, which, according to him, is “a normal, temporary reaction given the unexpected circumstances.”
“In fact, the stock market has recently stabilised and this is further proof that Qatar’s fundamentals remain strong,” he noted. He added, “On a global level, Qatar, which is one of the safest countries to live in and is the world’s richest country, ranks amongst the top 20 most competitive economies and remains the leading exporter of LNG.
“This, coupled with our drive and determination, enables us to defend our economy as we have the right tools and buoyant reserves in place. The QFC, like Qatar, remains open for business.”