The new plan focuses on economic diversification and strengthening of Qatar’s financial and economic sectors.
A new financial strategy plan for 2020-2022 was presented by the finance ministry at a cabinet meeting on Wednesday, with the aim of accelerating the progress of the Qatari economy during a test period.
The plan comprises three main sectors – financial, economic and common service – each comprising a number of programs and projects under their umbrella, in line with the Qatar National Vision 2030, which provides a framework within which national strategies and implementation plans. can be developed. .
The main objective of the financial sector is to create modern public sector institutions that provide exceptional public services and ensure financial sustainability, according to a statement by Minister of Justice and Acting Minister of State for Cabinet Affairs, Dr Issa Saad al-Jafali al-Nuaimi.
This includes securing stable revenues for the state, fiscal policies that maintain economic stability and prosperity, and effective management of state projects and quality capital assets.
Programs under the financial sector include state government fee review and regulation projects and the capital expenditure management program.
The new strategy aims to encourage entrepreneurship and new business opportunities and constitute and develop a portfolio of investment projects for partnership projects between the public and private sectors.
The statement said that the main objective of the economic sector is a more competitive, productive and diversified economy, as well as a more dynamic private sector that contributes to the national economy.
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At the same time, the common services sector is designed to improve administrative performance by improving and securing infrastructure. The plan focuses on a complete digital transformation as well as the installation of cybersecurity systems projects.
Qatar Vision 2030
The Qatar National Vision 2030 is a long-term plan for Qatar that aims to move the country forward by diversifying its economy to make it more self-sufficient and less dependent on gas and other natural resources.
The vision focuses on four key areas: human development, social development, economic development and environmental development.
Qatar has shown its commitment to diversification in recent years by investing in education, finance, foreign investment and by offering various programs and funds to local entrepreneurs and businesses.