Qatar Conference emphasises sustainable development
In a succession plan that would be a credit to any global corporation the Qatari royal family have transitioned to the next generation, and the new ruler has wasted no time in ringing the changes. The new Emir of Qatar His Highness Sheikh Tamim bin Hamad Al Thani, held high level meetings at the 34th GCC Summit in Kuwait shortly after the Qatar Euromoney Conference sponsored by Jersey Finance. A signal that the youngest of the GCC leaders is already seen as a key player in the Gulf Arab family.12 December 2013
Senior Qatari leaders were at the Jersey Finance sponsored Euromoney Qatar Conference 2013 to present a new stage of sustainable development for the Qatari economy.
His Excellency Abdullah bin Nasser bin Khalifa Al-Thani, Prime Minister, State of Qatar, in his introductory address outlined the transition that both Qatar and the global economy are going through.
"Qatar took effective action during the global economic crisis to ensure stability and sustainable development, and we are now embarking on a new phase of sustainable development,"
"The focus of this new phase requires government support to diversify the national economy, and support the expansion of non-oil and gas sectors. It also requires the active participation of the private sector, to encourage positive competition and to support the employment, training and development of young people."
His Excellency Ali Shareef Al-Emadi, Minister of Finance, State of Qatar, spoke on the role of the financial sector in the context of the Qatar National Vision 2030.
"Financial stability requires sound fiscal policies and the development of a financial system that can cope with risks and boost the capacity of the national economic system to absorb risks. The next phase of development in Qatar will be driven by large-scale infrastructure projects, which will require the input and support of the private sector, and which will deliver a major contribution to the welfare of the citizens of Qatar," said H.E. Ali Shareef Al-Emadi
His Excellency Sheikh Abdullah bin Saud Al Thani, Governor of the Qatar Central Bank, highlighted the strength and stability of the Qatar financial system.
" Qatar Central Bank has launched initiatives to promote the effectiveness of the finance sector in reducing risk, developing capital markets, and increasing the stability of financial processes. Just recently, we have launched a strategy for the development of capital markets with other ministries, based on the Qatar National Vision 2030"
Qatar Central Bank (QCB), the Qatar Financial Centre Regulatory Authority (QFCRA) and the Qatar Financial Markets Authority (QFMA) have jointly launched a strategic plan for the future of financial sector regulation in the country just this week. The plan establishes a framework for regulating the financial sector across the state, setting out a road map of strategic priorities for the next three years (2014-2016).
A later session in the conference focused on the role of Jersey in the gulf by way of an interview with Senator Ozouf which was well received in the Hall, further cementing the already excellent profile and reputation of Jersey in the region.