DOHA: Sheikh Faisal bin Qassim Al Thani, the Chairman of the Qatari Businessmen Association (QBA) in press conference said that Qatar’s economy is moving in the right direction and will move higher in the Global Competitiveness Index in coming years. He said that the association wishes to see Qatar in the top ten in near future.
Qatar has moved up two places to occupy 14 position globally in the latest Global Competitiveness Index as compared to its last rankings, in the World Economic Forum’s (WEF) 2015-2016 Global Competitiveness Report, released recently. The report said Qatar occupied the first position globally in terms of ease of access to loans and placed its stable macroeconomic environment in the second position, adding that businesses and individuals use latest technologies, including the Internet, widely.
Responding to a query on the impact of falling oil prices, the chairman said Qatar has enough experience about adjusting to the changing oil market dynamics. He added that the association is working closely with the World Economic Forum in the field economic studies. The cooperation enables Qatar to get information about neigbhouring economies which helps in comparative analysis.
Dr Darwish Al Emadi, Director of Social and Economic Survey Research Institute (SESRI) at Qatar University said that there is high likelihood of improvement in Qatar’s rank in the Global Competitiveness Index in coming years. Qatar should focus on infrastructure development to improve its rank in the index. The improvement in rank will help Qatar to attract foreign investment, he added.
