Doha, November 01 (QNA) - Qatari daily newspaper Al-Raya praised in its Sunday editorial the State of Qatar's economic policy, which is based on a strong system, stressing that Qatar, which maintained the strength of its economy, was able to attract investors to it thanks to the wisdom of the leadership that attached great importance on the economic sector.

The newspaper further explained that Qatar strengthened its strategic relations with major and friendly countries in addition to strengthening its economy and increasing its self-sufficiency percentage.

Al-Raya highlighted the promising numbers shown in Qatar Chamber's monthly economic bulletin newsletter that the trade of private sector during August 2020 amounted to QR 929 million, which meant that the total value of private sector's exports during the first eight months of 2020 amounted to about QR 10.02 billion.

The newspaper said that these figures confirm the success of the incentive initiatives provided by Qatar to private sector companies to confront the coronavirus (COVID-19) crisis. These initiatives had a great impact on the State's economic sector, especially as they came at a time when the global economy is suffering from the consequences of the coronavirus pandemic, which has halted production in many countries and caused the emergence of economic crises in many of them, which reflects the stability and flexibility of economic policies and the improvement of investment rates, the paper noted.

Qatar has been able to increase the volume of its exports abroad strongly, Al-Raya pointed out, adding that destinations of Qatari exports to most countries of the world have also increased in new evidence that economic reforms have begun to bear fruit through figures that confirm that the State's economy is moving ahead with confidence.

It is likely that Qatar's economy will continue to grow and achieve record rates surpassing neighboring countries, according to organizations estimates, and experts confirm that Qatar is continuously succeeding after expanding support for new sectors in the economy in order to increase its contribution to achieving sustainable economic growth, Al-Raya underlined.

The paper emphasized that Qatar spared no effort in providing the legislative and institutional environment required to encourage investment and strengthen the economy, as it worked to develop cooperation between the public and private sectors by providing support to the private sector to increase its role in various economic sectors, opening the way for local and foreign investments and increasing its participation in the implementation of major development projects.

Qatar realizes that supporting and encouraging the private sector leads to an increase in its contribution to the sustainable development process in a way that serves the development of the country and the economy by increasing the percentage of the private sectors contribution to Qatars GDP, the newspaper said.

Al-Raya concluded its editorial by saying that the State encouraged the marketing of local product and presented large and effective initiatives to support local production, which empowered Qataris economically and encouraged them to enter the business sector in the country. These exemplary opportunities available to them are thanks to the increasing interest from the government in encouraging legislation to revitalize the State's economically, as the State has already begun to reap its distinct plans and initiatives, Al-Raya ended. (QNA)