World Economic Forum: Doha to Build a More Flexible Economic Model

A report by the World Economic Forum confirmed that Qatar has built a strong economy by taking advantage of its natural resources as the second-largest exporter of gas in the world.

And it has created a competitive market with strong global business relationships, seamless connectivity with international partners, and ambitious leadership, Doha seeks to build a more flexible economic model for the future through a model based on a knowledge-based economy and the decarbonization of industry.

The report highlighted that Qatar's long-term future requires a new model of resilience that relies on a knowledge-based economy and decarbonizes strategic industries in the country. Thus, Qatar's future depends on talent and innovation, which is a key lever to open a new era of growth.

The report said: Three young Qatari leaders believe that sustainable investing, building governance frameworks, and empowering women will be essential to Qatar's future.

Ahmed Ali Al Hammadi, chief investment officer for Europe, Russia and Turkey at the Qatar Investment Authority, Qatar's sovereign wealth fund said, “We have looked inward to build our vision and shape the role we will play as agents for future generations in Qatar,” describing the Qatar Investment Authority’s approach to sustainable investment, as its ambition to reach universality.

“I must lead and inspire our employees to incorporate environmental and social governance into their thinking and behavior,” said Abdulrahman Issa Al-Mannai, CEO of Milaha Group, one of the largest shipping and logistics companies in the Middle East.

Al-Mannai added, "The high standards of corporate governance and transparency start from the top and permeate all levels of the company."

For Sheikha Al-Anoud bint Hamad Al-Thani, she is the Executive Vice President and Executive Director of Business at the Qatar Financial Centre, Its most satisfying achievement is the increased representation of women in the workforce, which it considers an integral part of good governance.

 Sheikha Al-Anoud said, "According to 2019 data, 13.5% of senior positions in QFC firms are held by women—compared to 8.5% in Qatar's financial sector as a whole. This number continues to grow, and at the same time, these companies are posting record profits."

When asked about their expectations for the coming months, the three young leaders expressed optimism for the future. “In 2022, I hope that the progression of the Qatar Investment Authority will make us a global leader in the field of sustainability,” Al Hammadi said. He also expressed his happiness that Qatar will host the first carbon-neutral soccer World Cup later this year.

As for Sheikha Al-Anoud, she is happy that the QFC companies have emerged from the Covid-19 pandemic stronger and better.

And she said, "I look forward to strengthening our interconnection with other financial and innovation centers to drive the development of the QFC into leading professional services and financial authority for Qatar and the world,"