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Qatar Economic Forum… A Dialogue For World’s Future

In June 2021, the world witnessed the birth of the Qatar Economic Forum, Powered by Bloomberg to constitute a global economic event and a dialogue platform for leaders, decision-makers, experts, and international actors to shed light on the reality of the global economy and its future in a dynamic, rapidly changing world.

The forum’s launch came to consolidate the State of Qatar’s location and strategic position, enhance its active and influential role in the global economy, and its keenness to open space for dynamic global discussions on the importance of cooperation and communication to enhance economic opportunities and face global challenges.

What distinguishes this international forum is that it launched as the world was racing to contain the COVID-19 pandemic, which paralyzed the global economy, forced countries to resort to policies of complete closure, preventing travel and movement, which affected production and chain supply, and skyrocketed unemployment rates to unprecedented levels.

In light of this reality, the State of Qatar, based on its vision, pivotal role, and experience in global efforts, adopted, powered by Bloomberg, this economic forum to meet the new challenge and discuss strategic issues related to the global economy.

During the inauguration of the first edition, HH the Amir Sheikh Tamim bin Hamad Al-Thani referred to the challenges posed by COVID-19, saying, “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…” “We are confident that the first edition of this forum will constitute a qualitative addition to the joint efforts of our countries and societies, and the cooperation between them and the business sector, in facing various challenges and building a better future for all of our peoples,” His Highness added.

In light of the global interaction with the forum, the first edition, held remotely, witnessed the participation of many leaders and Heads of States and governments including President of the Republic of Ghana Nana Akufo-Addo, President of the Republic of Rwanda Paul Kagame, President of South Africa Cyril Ramaphosa and President of the Republic of Senegal Macky Sall and President of Armenia Armen Sarkissian, in addition to more than 100 speakers from around the world.

A global elite of more than 200 CEOs, inspiring personalities, and decision-makers in the finance, economy, investment, technology, energy, education, sports, and climate fields participated in the forum.

For three days, the participants tried to identify challenges and opportunities, propose solutions, and rethink the global economic landscape from a Middle Eastern perspective to solve global issues.

The forum focused on six main pillars, “Technology Advanced” took a closer look at permanent changes to the human-technology nexus; “A Sustainable World” explored the intersection of capitalism and climate; “Markets and Investing” posed the question of whether investors, in their inexorable pursuit of growth opportunities, can shape a more resilient global economy; “Power and Trade Flows” gathered global power brokers to share their vision of the road ahead; “The Changing Consumer” examined the future of commerce; and “A More Inclusive World” offered ideas for healing fissures in a post-pandemic society.

While the first forum’s slogan was “New Horizons for Tomorrow,” the second forum, hosted in June 2022, came under the slogan “Equalizing Global Recovery,” with a mission to search for new visions and foundations for a global economy capable of facing the dynamic transformations and complex challenges of today’s world.

A number of state leaders and heads of government participated in the forum, including HE President of the Republic of Kazakhstan Kassym-Jomart Tokayev, HE President of the Republic of Namibia Hage Geingob, HE President of the Togolese Republic Faure Essozimna Gnassingbe, HE President of the Republic of Sierra Leone Dr. Julius Maada Bio, HE Prime Minister of Georgia Irakli Garibashvili, ministers and officials from brotherly and friendly countries, as well as more than 500 international business leaders, and more than 75 keynote speakers.

The forum highlighted a number of global topics and issues, including achieving equality in the long-term global economic recovery, the future of global markets and prospects for globalization, ways of supporting global supply chains, and the transformations being witnessed by the energy sector, in addition to the green economy, and mechanisms dedicated to reducing carbon emissions.

It also discussed economic strategies adopted to diversify sources of income, thus contributing to reducing climate change, eliminating poverty, reducing inflation, and protecting the environment, investment opportunities in the sports sector, future technology prospects, and ways to support the renaissance of the African continent in the 21st century.

Qatar’s preparations to host the FIFA World Cup Qatar 2022 were also at the heart of the forum’s work, highlighting the State of Qatar as a leading regional and global investment destination with the investment incentives and opportunities offered to investors, entrepreneurs, and major international companies in the non-oil and value-added sectors, especially areas that serve Qatar National Vision 2030 (QNV 2030) and Qatar Second National Development Strategy 2018- 2022, which aims to lead a competitive and knowledge-based economy.

The forum reviewed the developments made in the implementation of major development projects aimed to achieve QNV 2030 and the achievements made in preparation for hosting the FIFA World Cup Qatar 2022.

The current challenges dominated the Forum, starting with the challenge of recovering from COVID-19, the repercussions of the war in Ukraine, crises in the Middle East, and the repercussions of climate change and its resulting crises in energy and food, which have become real challenges that require international cooperation and wise decisions to confront.

In this context, HE Minister of Commerce and Industry Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al-Thani said, on the occasion of the forum, that making informed decisions about the future of the global economy is a priority for governments and companies in light of the transformations taking place in the financial and technological sector and the constant interest in securing energy.

In a similar statement about the challenges discussed in the second forum, HE stressed that the forum will work to mobilize efforts and consolidate international cooperation and solidarity to devise effective solutions to these issues and bridge the gaps and bridges to recovery in a way that establishes the building of an integrated global social and economic system that achieves the Sustainable Development Goals 2030.

Commenting on the second forum, CEO of Bloomberg Media Scott Havens said that with the global economic recession caused by COVID-19, we must take responsibility for achieving a comprehensive and sustainable economic recovery. Bloomberg Media Group is proud to moderate this important dialogue in Doha, which brings together policy innovators, thought leaders, and industry experts, to determine the decades ahead.

The forum continues to diagnose the reality of the global economy and anticipate its future in its third edition scheduled to be May 23 to 25 to chart the course of the future of global economic growth by focusing on global challenges that affect societies and economies.

A group of influential business leaders, academics, and heads of government will participate in the third edition, highlighting the innovations necessary to move the global economy forward.

The broad international participation in all of the forum’s editions demonstrates its importance as a global platform for dialogue on the challenges facing the global economy and solutions, especially as the forum covers all pillars of the economy, whether in trade, energy, investment, technology, consumers, or the geopolitical turmoil and its complex effects.

In a previous interview with Qatar News Agency , HE Chairperson of the Supreme Committee Organizing the Qatar Economic Forum and CEO of Media City Sheikh Ali bin Abdullah bin Khalifa Al-Thani confirmed the success of the previous two editions of the forum saying, Qatar Economic Forum serves as a media platform with a diverse agenda that brings together global business leaders to formulate actionable steps towards achieving economic growth, which it has been able to in each edition.

“We have together launched this forum and planned for its success in the midst of an unprecedented global turmoil. We are working on acquiring solutions that would address the challenges facing human development, inspired by the pillars of Qatar National Vision 2030. Our commitment to global dialogue is a contribution to achieving the economic and social aspirations set by Qatar’s economic growth policies over the years,” His Excellency continued.

Source: Qatar News Agency