Stepping up • Spotlight feature: Strong response

Every sector in Qatar has stepped up in response to the challenges in the global economy to emerge even stronger.

Though Qatar was no exception in feeling the impact of COVID-19 on the economy, it was able to apply the experience acquired from past trials and quickly adapt to the post-COVID era, while maintaining its commitment to Qatar National Vision 2030 and ensuring it remains a resilient, diversified, and globally connected economy. In logistics, Qatar stepped up efforts to improve its networks and facilitate international trade, ensuring a smooth flow of goods and services between countries. In financial services, the banking sector turned to digital financial transactions and other innovations to better serve customers and ensure efficiency, continuity, and safety. Similarly, in transportation, the authorities have continued to work hard ahead of the FIFA World Cup to provide a leading-class integrated transportation system and seamless mobility that is accessible and affordable for all while ensuring the safety of all visitors. Lastly, Qatar’s entire healthcare sector was a key player in the country’s strong response to COVID-19, enabling it to suppress the spread of the virus at its peak.

DESPITE THE SIGNIFICANT IMPACT of COVID-19 on the global economy, Qatar is confident that economies around the world will overcome this crisis, albeit in the context of new dynamics and parameters. Qatar is adapting to the post-COVID era, while maintaining its commitment to a multilateral trading system and facilitating international trade, to ensure the smooth flow of goods and services between countries. Qatar is also strengthening international cooperation frameworks to ensure trade safety and continuity as the engine for economic recovery. In fact, Qatar was able to rapidly diversify local and global supply chains over the past years and stepped up efforts to improve its logistics networks, which enabled the country to maintain a resilient, diversified, and globally connected economy. For example, in the past few years, Qatar has rapidly established the Free Zones Authority, home to one of the most advanced digital and logistical systems worldwide, providing companies with access to a variety of physical and digital entry points to connect to global supply chains, through advanced communications and transportation infrastructure. The country’s unique strategic location, with its international airport and port, also allows major companies to maintain their leadership in the field of logistics services, providing flexible and diversified solutions for firms looking to invest in Qatar. The free zones also provide a “landing stage” for companies looking to partner with major Qatari firms.