The Ministerial Group, for Stimulating and Cooperating with the Private Sector in the Economic Development Projects, chaired by HE the Prime Minister and Minister of Interior Sheikh Abdullah bin Nasser bin Khalifa Al -Thani, has signed an agreement with the World Bank Group to conduct an Investment Climate Assessment and an Evaluation on the Business Regulation Environment in Qatar, aimed towards promoting and expanding growth driven by the private sector.

Commenting on the agreement, Khamis Al-Mohannadi, Head of the Technical Committee for Stimulating and Motivating the Private Sector, said: "In the last 20 years Qatar has made outstanding socio-economic achievements, one of which is having a 10.5% average growth rate.

The achievements of the economic growth resulted from the reform policies that Qatar has undertaken in the context of the rapid globalism process.

This bilateral agreement aims to keep improving the investment environment in Qatar and attracting FDI".

Deputy Undersecretary for Economic Affairs at the Ministry of Finance, Saud bin Abdullah Al-Attiyah welcomed the agreement and said: "The agreement signed today is part of Qatars on-going initiatives to continuously improve its business environment and support local and international firms alike to grow and expand. We are confident that this agreement will further support our efforts to position Qatar as the regions preferred business and financial hub."

Issam Abousleiman, Regional Director for the GCC at the World Bank Group said: "We continue to work with Qatar in its effort to improve its attractiveness for international and local investors building on our support to broader private sector development and diversification under the National Development Strategy. Today's agreement marks a new phase of enhanced cooperation working with many ministries, public entities, and the private sector to contribute to the same goal".

The agreement will run for two years and is expected to conclude in April 2021.

Source: QNA

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Sumaica Asad

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