The Qatari Businessmen Association (QBA) has once again expressed its strong backing for Qatar's economy and its dedicated effort to maintain economic stability at a meeting held recently.
It emphasized that all its economic entities and related businesses, both domestic and international, are completely dedicated to serving the country's best interests.
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QBA highlighted the unity of Qatari businessmen in support of the Amir of Qatar, Sheikh Tamim bin Hamad Al Thani, and promised to assist all parts of the economy in tackling regional obstacles.
The organization restated its dedication to carrying out the nation's economic strategies and cooperating closely with government officials to maintain market stability and the smooth flow of economic operations.
The organization emphasized its continuous communication with foreign companies and international business councils in Qatar, who have reiterated their dedication to keeping their operations running and upholding Qatar as a top choice for investment and business endeavors.
QBA thanked the Prime Minister and Minister of Foreign Affairs HE Sheikh Mohammed bin Abdulrahman Al Thani and all relevant ministries for their significant contribution to ensuring the stability and security of the country during these challenging times.
The organization also expressed gratitude towards the Ministry of Commerce and Industry, the Ministry of Municipality, and the Ministry of Public Health for consistently monitoring markets and making sure essential goods are available.
QBA mentioned that specialized task forces and monitoring committees are working non-stop to uphold market stability throughout the holy month. The organization commended private sector businesses and community farms for backing national initiatives through the provision of food items, dairy products, water, and fresh poultry at various retail locations.
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It verified that there have been no major shortages in markets, which has contributed to maintaining price stability in the local economy. QBA emphasized that the economy of Qatar is established on strong footing, backed by cautious economic strategies, significant financial assets, modern infrastructure, and diversified strategic ventures.
These advantages allow the country's economy to handle regional and global changes with assurance. In this situation, members of QBA and related companies reconfirmed their strong dedication to maintaining market stability and ensuring economic activity continues without interruption. The group emphasized that the private sector will persist in working closely with government officials to enhance supply chains and guarantee essential goods and services are readily available for the public.
QBA assured local and international investors, as well as foreign business councils, that Qatar has enough strategic reserves of vital goods, especially in the food and pharmaceutical industries. They emphasized that advanced logistic capabilities and diverse supply networks ensure a smooth and constant flow of products to domestic markets.
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QBA stated that the Qatari economy's strong financial foundation enhances its resilience. The banking sector in the country demonstrates a high level of stability, surpassing international standards in terms of capital adequacy and liquidity ratios.
Additionally, Qatar's strong sovereign credit ratings from prominent global rating agencies, supported by substantial financial reserves and prudent fiscal policies, further bolster confidence in the economy. The organization pointed out that Qatar is still considered as one of the most secure and appealing locations for investments in the region, which is evident in global reports, such as those showcased at the World Economic Forum in Davos.
Significant economic ventures and key investments are progressing as per agreed upon strategies, backed by sophisticated laws and top-notch infrastructure. QBA confirmed that foreign investors can confidently conduct business in Qatar as the country's business environment is stable and favorable for investment, thanks to its modern regulatory framework and proactive economic policies.
QBA emphasized its strong dedication to the national economy, guaranteeing market stability, and backing Qatar's ongoing economic growth and resilience through these actions.