Investors and economic experts have praised the decisions of His Excellency Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani, Prime Minister and Minister of Interior, in implementation of the directives of His Highness Sheikh Tamim bin Hamad Al Thani, Emir of the country, “may God protect him” to support and provide financial and economic incentives of 75 billion Qatari riyals to the private sector Those affected by the precautionary measures to deal with the Covid-9 pandemic, and to overcome all difficulties and obstacles facing the private sector, which included the continued exemption of food and medical goods from customs duties for an additional three months, provided that this is reflected in the selling price to the consumer, and the following sectors continue to be exempted from Electricity and water charges for an additional three months:The hospitality and tourism sector, the retail sector, the small and medium industries sector, the commercial complexes in exchange for providing services and exemptions to the tenants, the logistical areas, the continuation of the exemption from rents for the logistical areas and small and medium industries for a period of three months, and the raising of the ceiling of the national guarantee program that is managed by Qatar Development Bank from 3 billion to 5 billion riyals, in addition to extending the program for an additional three months, and Qatar Development Bank will issue the necessary controls and conditions for this, and the renewal of automatically expired licenses and commercial records will continue for an additional three months, provided that the fees due are settled later.
The experts met with the East noted the approval of the Cabinet’s draft of the Emiri Decision to establish the National Agency for Cybersecurity, as it is the appropriate and necessary mechanism at this particular time to unify visions and efforts to secure the country’s cyberspace and maintain national cyber security, in light of the plans and strategies for the digital transformation of the state and business sectors. And the shift that this transformation is witnessing after the Corona pandemic, and the focus of most projects on building a secure technological infrastructure.
private sector
Businessman Saeed Al Khayarin said: The previous directives of His Highness Sheikh Tamim bin Hamad Al Thani, Emir of the country, to support and provide financial and economic incentives in the amount of 75 billion riyals to the private sector affected by the precautionary measures to deal with the “Covid-19” pandemicIt has had a significant positive impact in alleviating the pressures produced by the pandemic, and has enabled the private sector to balance and take policies and remedies to curb losses and collapse that could have been exposed to many sectors and investments, appreciating the efforts and directives of His Excellency Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani The Prime Minister and Minister of the Interior that came to support the previous Emiri directives, including the continued exemption of food and medical goods from customs duties for an additional three months, and the continued exemption of the following sectors from electricity and water fees for the hospitality and tourism sector, the retail sector, the small and medium industries sector, the complexes Commercial in exchange for providing services and exemptions to tenants, logistical areas.
He said that the continued exemption from rentals for logistical areas and small and medium industries for the same period while raising the ceiling of the national security program that is managed by Qatar Development Bank from 3 billion riyals to 5 billion riyals, will be a catalyst for great achievements and additional projects by the private sector during the coming period. He praised the decision to continue renewing automatically expired licenses and commercial records for an additional three months. He called on the private sector to benefit from these incentives and support, and to raise the business ceiling and expand it.
Regarding the decision to approve the Emiri project to establish the National Agency for Cybersecurity, the investor stressed the importance of the agency in protecting Qatar from any electronic breaches, referring to the penetration that Qatar was exposed to some time ago, which led to unprecedented repercussions in the region. He said that the development it is witnessing in the field of e-government, which made it at the forefront of countries that achieve excellent indicators thanks to this technical development, requires the matter to accelerate the taking of steps to enhance the security fortifications in the cyber field of the state. In this regard, he called for expediting the establishment of the National Agency for Cybersecurity, and also called for strengthening the partnership with the sector, which was able during the last period to confirm its ability to serve the state’s programs and projects towards sustainable development.
The first shock
In this regard, the economic expert, Dr. Abdullah Al-Khater said: The decision to lift guarantees is an important decision to enable the economy to overcome the first shock that followed the emergence of the pandemic, and it was a sudden and violent shock. He pointed out that by following up the global economic situation, we find that the first support package was important and feasible for business stability, and we are now reaching a stage after the first stage, and there are some repercussions left by the pandemic, you need this support package so that the precautionary measures can achieve its goals, foremost of which is Return of the economy to normal, especially after the economic life began to take its course, but with a recovery and recovery that needs a catalytic support force.
Dr. Al-Khater added that the business sector will now move more optimistically, and this is what we see in the economic indicators in terms of stock market movement, real estate, hospitality and contracting sectors, and these sectors needed this package to overcome the stage of concerns and caution that was still characterizing its recovery in the economy. This package gives the economy another push to overcome the rest of the repercussions of the previous phase, and it came at a sensitive and important stage to raise the level of confidence and optimism in various sectors, as it is expected that if the health conditions continue to improve, we will see the economy return to its usual levels within three months.
Regarding the Cybersecurity Agency, Dr. Al-Khater stresses the importance of the decision, given the importance of cybersecurity for the next stage, its place in the Qatar National Vision 2030, the shift from the traditional economy to the digital economy, the knowledge economy, state security, the security of institutions, companies, individuals, consumers and the financial sector in general, protection against penetration, in particular. We have seen the seriousness of this matter with the unjust blockade, the entrance to which was electronic piracy. Therefore, it is important today for all proactive and innovative countries and companies to take great care at the outset to provide cybersecurity because it is the guarantee for the continued work of the state, companies and institutions.
Dr. Al-Khater added that crime evolves with the development of cybersecurity and the development of its tools, so it is important to rely on development and research projects through specialized agencies, national institutions, universities and research centers in order to create awareness of the importance of cybersecurity and direct youth to enter this important field for the state, companies and the business sector, especially companies. Major companies such as oil and gas companies and airlines, all of which depend on cyberspace and software in general, so it is important for this agency to be the nucleus for these efforts and to organize this field and institutions at home, set procedures and undertake awareness of institutions and companies, and thus it is a useful step that expresses the leadership’s awareness of this The aspect and its role in protecting and fortifying the economy and society.
Supporting the economy
In an interview with Al-Sharq, businessman Mr. Ahmed Al-Khalaf affirmed: The business sector is satisfied with these decisions, adding that it left a great deal of satisfaction with businessmen and investors and provided evidence of the government’s commitment to protecting and supporting the national economy. It also sent positive messages to investors and the business sector that the Qatari economy is safe. And it is stable, and maintains creditworthiness that enables it to face challenges and shocks.
Al-Khalaf said that the industries sector, especially the manufacturing and food industries, will benefit from this trend, and we will see faster growth than what was expected in these sectors. He added that the local companies generally maintained the continuation of their business and the continuation of their production, but some of these industries needed these incentives that would give him the credit facilities required for the growth of projects.
Al-Khalaf said: The Cabinet is fully aware of the importance of the current stage and proves that the Covid pandemic will not affect the economic movement in the country and its strategic projects. Al-Khalaf stressed the continuity of the company’s global projects for the development of projects, whether related to food industries or related to agricultural production, and expressed his satisfaction with the expected results of this decision to support the local business sector and its expansion in the next stage.
Investment catalysts
called the businessman d. Mohammed Al-Qahtani, the Qatari private sector, to invest in the incentives directed by His Excellency Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani, Prime Minister and Minister of Interior, which comes in support of previous Emirati directives, and said that they contribute to the expansion of the business sector. He said that the government interest is unprecedented. The Corona pandemic, which cast a dark shadow over all global economies and private sectors. He said that the directives of His Excellency the Prime Minister and the Minister of Interior to continue exempting food and medical goods from customs duties for an additional three months, to be reflected in the selling price to the consumer, is a big step that supports the economy and trade.
He said that the continued exemption of the hospitality and tourism sector, the retail sector, the small and medium industries sector, commercial complexes in exchange for providing services and exemptions to tenants, and logistical areas from electricity and water fees for a period of three months reinforces these trends and policies. The price of continuing exemption from rents for logistical areas and small and medium industries for a period of three months. He said that this would enable it to rise again and completely get rid of the secretions left by the pandemic, noting the importance of logistical areas and their role in supporting the economy and its growth.
He pointed to the need to manage the National Insurance Program after raising its ceiling from 3 billion riyals to 5 billion riyals, in line with the next stage, praising the efforts made by Qatar Development Bank, which confirmed that it will issue the necessary controls and conditions. He called on shop owners to also benefit from the decision to continue renewing automatically expired licenses and commercial records for an additional three months, which includes settling fees due later. He said that delaying the renewal of licenses affects commercial and economic activity, as it can hinder the investor’s movement.
He called for speeding up the establishment of the National Agency for Cybersecurity. He said that Qatar’s cyberspace, and its preservation, has become an urgent necessity in light of the gigantic development renaissance that Qatar is witnessing, and we have gone through an experience in which the state succeeded to an excellent degree in confronting it. He stressed the need to expand this field and involve the private sector in implementing projects related to it.
