Qatar Economic Forum: An Important Annual Event to Discuss the State of Global Economy

Doha, May 13 (QNA) - Qatar Economic Forum, Powered by Bloomberg, is an important annual event to discuss the state of the global economy, its growth prospects and challenges, and how to address them.

Under the generous patronage of HH the Amir Sheikh Tamim bin Hamad Al-Thani, the first edition of the forum was held virtually in Doha in June 2021 under the theme "Reimagining the World." It saw the participation of many heads of state and government and an elite group of CEOs of major international companies, inspiring figures, and decision-makers in the fields of finance, economics, investment, technology, energy, education, sports, and climate, in addition to more than 100 speakers from all over the world.

Opening the first edition of the forum, HH the Amir pointed to the challenge presented by the Coronavirus (Covid-19), and said, "our meeting today comes while we are in the midst of a confrontation with the Covid-19 pandemic, which has posed a serious and unprecedented challenge to all humanity in all spheres, including the economic field, where endless discussions took place about the fallacious trade-off between people's health and economic health; and where a blurriness overshadowed the expectations of international institutions regarding the future prospects of the global economy, especially that the world has not yet moved to a post-pandemic phase in the shadow of the waves of renewed variants and mutations of the virus that underlined a state of uncertainty."

Over the course of three days, the forums participants discussed the agenda which included six main sessions: "Technology Advanced" which highlighted permanent changes to the human-technology nexus; "A Sustainable World" which explored the intersection of capitalism and climate; and "Markets and Investing" which discussed the ability of investors in their hunt for growth to help shape a more resilient global economy.

Other sessions covered "Power and Trade Flows" which gathered major international power brokers to share their vision for a new way forward; "The Changing Consumer" which dealt with the future of commerce; and "A More Inclusive World" which presented ideas on the post-pandemic recovery.

The forum shed light on the business environment provided by the country and the investment opportunities available and reviewed the developments that have been made in implementing major development projects, especially projects related to hosting the FIFA World Cup Qatar 2022 and the efforts of the State of Qatar to consolidate commitment to the global multilateral trading system, enhance economic openness, and consolidate strong cooperation with various trading partners around the world.

As for the second edition of the forum, it was held on June 21, 2022, while the world was going through a critical juncture as a result of the repercussions of the Coronavirus (Covid-19) pandemic, the war in Ukraine, and fears of recession and food shortages.

This edition was held under the slogan: "Achieving Equality in Global Economic Recovery," with the participation of many heads of state and government, senior policymakers, parliamentarians, thinkers, economists, businessmen, media, and representatives of regional and international organizations.

Throughout the days and sessions of the forum, participants exchanged views and highlighted the future of the global economy and the responsibility towards achieving a comprehensive and sustainable recovery. Qatars preparations to host the FIFA World Cup Qatar 2022 were also at the core of the forums work, within the framework of highlighting the State of Qatar as a leading investment destination in the region and the world as well as the incentives and investment opportunities provided by the State to investors, entrepreneurs, and major international companies in the non-oil and value-added sectors, especially the areas that serve the Qatar National Vision 2030 and the Second National Development Strategy 2018-2022 that aims to establish a diversified and competitive economy based on knowledge.

In May 2023, Doha hosted the third edition of the Qatar Economic Forum, Powered by Bloomberg, under the slogan "A New Global Growth Story."

The wider, prestigious international participation in the third edition of the forum, which reached 130 countries, reflected the importance of this global platform for dialogue on the challenges facing the global economy, especially as the forum tries to cover all aspects of the economy, whether in terms of trade and linking it to energy, investment, modern technology, or general mood of consumers, as well as geopolitical turmoil and its complex impacts.

The three-day forum was full of in-depth and serious discussions and aimed to put the global economy back on the track to growth and anticipate its future in a rapidly changing world. Through 7 main sessions that included more than 50 sub-sessions, the forum discussed strengthening international economic partnerships, consolidating bridges of communication and dialogue between different peoples, and how to maximize the global competitiveness of the Gulf Cooperation Council countries in a changing and dynamic economic system.

The forum also discussed the future of foreign direct investment in challenging economic times and the extent to which it is affected by the risks and challenges facing the global economy, the impact of geopolitical tensions on these investments, the radical changes taking place in the region’s markets, the best ways to manage inflation, enhance long-term productivity and economic growth, and ways to raise workers’ salaries and allowances without causing a deep and long-term recession, in addition to how to develop direct trade between the countries of the South, ways to direct the global transition to green energy and sustainable business efforts, and the right direction by avoiding the worst climate change scenarios. Other topics such as tourism, sports, artificial intelligence and other modern technologies were also discussed in the third forum, which witnessed the signing of 8 agreements and memorandums of understanding.

Through its fourth edition, the forum is expected to continue its role in diagnosing the reality of the global economy, anticipating its future, and attempting to chart the course of the future stages of global economic growth by focusing on global challenges that affect societies and economies around the world.

The Qatar Economic Forum, Powered by Bloomberg, is an important part of the country’s efforts towards consolidating its position as a pivotal commercial center for the business sector in the world. It represents an annual international platform that brings together heads of states and government and experts from various parts of the world to develop innovative and new visions for issues of concern to the global economy.

The forum is also a beacon of economic dialogue, not only for the State of Qatar but for the entire region. In a strategic partnership between Bloomberg Media and Media City Qatar, the forum has become one of the most influential business forums in the region.

The forum is an opportunity to promote the Qatari economy globally by highlighting the provided incentives and facilities that contribute to attracting more investments and businesses to the country as well as increasing confidence in the Qatari economy, which leads to stimulating economic growth and accelerating its pace.

The geographical location of the State of Qatar plays an important role in strengthening its economic ties with various countries of the world, and at the same time helps it develop its foreign trade system, as it has a coastline of 563 kilometers along the western coast of the Arabian Gulf, an advanced infrastructure, road network, airport and port. This development strengthened its quest to be at the forefront in this field regionally and globally, until it became a link between East and West, Asia and Europe, and made it a destination for conference tourism and major events, including the Qatar Economic Forum, which also contributed to promoting the national economy and investment opportunities.

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