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Doha Time & Temperature

 
 
 
 
Minister hails Qatar’s economic model
2008-03-10
3/10/2008 7:7:40
Source ::: The Peninsula
Minister of Finance and Acting Minister of Economy and Commerce H E Yousuf Hussain Kamal speaks at the conference. Minister of Finance and Acting Minister of Economy and Commerce H E Yousuf Hussain Kamal speaks at the conference. Minister of Finance and Acting Minister of Economy and Commerce H E Yousuf Hussain Kamal speaks at the conference.
Doha • Qatar’s economic model is based on providing appropriate environment for investments, Minister of Finance and Acting Minister of Economy and Commerce, H E Yousuf Hussain Kamal said here yesterday.

Speaking at the opening dinner and reception for the third edition of ‘Enriching the Middle East’s Economic Future Conference’, Kamal said: “We have been trying to do this by updating our legislations, establishing a Financial Centre as well as research centres,” he said. “What we are thinking of is to utilize the income generated by industrial activities and create the right environment for education and diversification of our economy. This can be achieved through a knowledge based economy which we think will provide for us the kind of sustainable development.”

He also said the Gulf region is witnessing huge economic growth resulting from the increase in the energy price, specifically oil and gas. This has been followed by a flow of investments that are contributing to this development, but also inflation.

Referring to the conference, Kamal said: “This time round I hope that we can discuss and draw conclusions and ideas that can enlighten our way and provide us with the kind of dignified future for our people, the future of opportunities and interaction with other people everywhere in the world. The question now is when and how will we have such an opportunity.”

Qatar devotes 2.8 percent of its national income to education and is committed to find ways to promote creativity and innovation, the minister said.

Representatives from 47 countries will be taking part in the three-day conference which is being held from March 9 to 11 compared to 32 countries last year.

UCLA Centre for Middle East, Professor Steven L. Spielberg who delivered the welcoming address said: “We hope to continue our work on enriching the Middle East’s economic future.”

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