The Qatar Financial Centre (QFC) Authority on Saturday stressed that the current Gulf crisis, which caused the siege by three GCC states on the State of Qatar, will not deter it from achieving its growth objectives and plans.
QFC Authority Chief Executive Officer,Yousuf Mohamed Al-Jaida, stated: “Current regional developments do not deter us from our growth objectives and plans. We will continue to carry on our operations as usual and remain committed to our mandate to diversify the economy in line with Qatar National Vision 2030.”
He added: “There are a host of opportunities for various local and international businesses to expand their operations and take part in Qatars over USD200 billion mega-projects. We remain just as confident in our capabilities to attract FDI and enable our local firms to continue to prosper and grow not only here in Qatar, but across the MENA region as well.”
Al-Jaida went on to elaborate that fluctuating market conditions are a short-term reaction to recent regional developments, which he explains is “a normal temporary reaction given the unexpected circumstances.” He added: “In fact, the stock market has recently stabilised and this is further proof that Qatars fundamentals remain strong.”
“On a global level, Qatar which is one of the safest countries to live in and is the worlds richest country, ranks amongst the top 20 most competitive economies and remains the leading exporter of LNG. This, coupled with our drive and determination, enables us to defend our economy as we have the right tools and buoyant reserves in place. The QFC, like Qatar remains open for business,” he concluded.