Qatar has gradually managed to move from oil- based economy to a diversified economy and the contribution of non-oil sectors has increased despite the decline in oil prices, the Minister of Economy and Commerce, H E Sheikh Ahmed bin Jassim Al Thani (pictured), said yesterday. The growth of non-oil sectors has jumped from 21 percent in the previous years to 61 percent, he added.
Addressing the opening session of the 4th International Conference on Entrepreneurship in Economic Development 2017 at Qatar University (QU), the Minister said small and medium enterprises have become main partner in the comprehensive development, where limited liability companies representing 82 percent of the total commercial activities in the country witnessed a growth by 12 percent in 2016 comparing to 2015.
The two-day conference is organised by Qatar University College of Business and Economics (QU-CBE) in partnership with Qatar Development Bank (QDB).
The Minister highlighted the importance of “entrepreneurship education”, and role of entrepreneurship business in economic development.
The Minister said: “The purpose of the conference is to motivate entrepreneurs to develop their projects, which will have a positive impact on the economic growth in Qatar. The private institutions are key drivers of economic development. Hence, entrepreneurship has become a cornerstone of economic growth and diversity. In Qatar, the private and the public sectors play a pivotal role. The government implemented many programmes that contribute to economic growth. In this regard, the Ministry of Economy and Commerce launched many services using mobiles and applications that help entrepreneurs to fulfil their dreams and establish their own business." He concluded with thanks to QU for hosting this international conference which reflects its position as a key partner of economic growth in Qatar.”
The Minister was joined by QU President Dr Hassan Al Derham, CBE Dean Dr Khalid Shams M A Al Abdulqader, QDB CEO Abdulaziz Al Khalifa, and International Council for Small Business (ICSB) Executive Director and Associate Professor at The George Washington University Dr Ayman Al Tarabishy, as well as CBE faculty, students and staff.
The event featured four panel discussions entitled “Economic Changes and Entrepreneurship Education”, “Fostering Entrepreneurship Education in Schools”, “Education, Innovation and Creativity”, and “Practical Education and Effective Industrial Collaboration”. Speakers were from Australia, Canada, Kuwait, Qatar, Saudi Arabia, UAE, and the USA.
Dr Derham, QU President outlined that entrepreneurship education contributes to economic diversification which leads to economic sustainability, one of the pillars of Qatar National Vision 2030. This requires the creation of various curricula that prepare students to become entrepreneurs. "To achieve this goal, CBE has established collaborations with many institutions from all over the world to boost its curriculum."
Al Khalifa said: “The research studies conducted around the world have shown that entrepreneurship education and SMEs are the cornerstone of economic growth. Hence, merging practice with theory helps us to diversify the economy and to enrich the knowledge of the community members. At QDB, we are committed to train new entrepreneurs through many workshops, facilities and services.”
