Innovation key to diversifying Qatar economy: QDB executive

An entrepreneurship culture with growing SME sector could help Qatar lessen the dependence on oil and gas, says al-Mannai:

As falling oil prices continue to impact global economies, innovative non-hydrocarbon businesses play a significant role in diversifying Qatar’s economy, an official of Qatar Development Bank (QDB) said.

QDB capability development manager Ibrahim Abdulaziz al-Mannai said developing a culture of entrepreneurship and expanding Qatar’s small and medium-sized enterprise (SME) sector could help lessen the country’s dependence on the oil and gas industry.

Asked what types of non-hydrocarbon businesses could help drive Qatar’s economy, al-Mannai said, “Looking at Qatar and where we are now in light of the recent drop in oil prices, anything innovative in the fields of IT, ICT, environment, renewable energies, could become successful businesses and will help diversify the economy. These sectors are grounds for entrepreneurs to build their businesses.”

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Source News: Gulf Times
Photo: Anas Khalid