Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Qatar - Call to ease barriers in setting up businesses  Join our daily free Newsletter

MENAFN - The Peninsula - 28/01/2014
No. of Ratings : 0
Add to Mixx!


(MENAFN - The Peninsula) Easing some of the barriers in setting up profitable businesses and a vibrant legal system that is more market responsive will help enhance the pace of economic diversification in Qatar, an expert has said.



"Qatar does most of the things quite right. However, if there are certain areas where it can improve is the ease with which companies are established," said Dr S Thomas Emerson, Distinguished Career Professor of Entrepreneurship at Carnegie Mellon University-Qatar (CMU-Q)



Dr Emerson, while speaking with The Peninsula recently, said: "The restriction of having minimum 51 percent Qatari ownership is one of the barriers to the creation of profitable business and investment. By focusing on lowering those impediments would be helpful spurring the development and diversification of the economy.



He said that Qatar, while maintaining a careful control on the energy sector - "the lifeblood of the economy" - can allow competition and investments in businesses outside the hydrocarbons industry.



Emerson has served in various organisations. He was the President and CEO at Arizona Technology Incubator, Xantel Corporation and also the Chairman of Syntellect



Speaking on Qatar's efforts in achieving industrial diversification by establishing vibrant small and mid-size enterprises by promoting local entrepreneurship, he said: "Entrepreneurs can always do impossible things.



He continued saying that the Middle East, including Qatar, offers some particular challenges because entrepreneurship has always been a part of the Middle Eastern culture.



However, it has not been able to maintain the same degree of contribution to the world economy as compared o its energy sector, but the accomplishments the National Vision 2030 is expected to bridge the gap




Referring to the evolution of digital music, which has replaced the traditional music industry, he said: "It is often said that capitalism is the process of creative destruction, and it is the very element that keeps it vital. New things are constantly evolving through innovation. Industries that were, 30-40 years ago, considered as lucrative businesses are now out of fashion.



He cited the example of Apple and Steve Jobs, who turned it as the world's largest business entity.



"Things have changed the way the world works. I absolutely see no reason why that kind of creativity and revolutionary innovations can't come from this culture. After all, Jobs was an Arab descendent whose ancestors were Jordanians," he said



He also noted that Qatar has many competitive advantages, such as low energy cost, probably the lowest in the world, strategic geographical location, huge area of undeveloped land and relatively easy access to the inexpensive labour market.



"Qatar has a lot of opportunities to exploit these competitive advantages. The enormous level of investments in education and human capital is an experiment which has never been tried on this scale by any other country. I expect that it would pay huge dividends to create a modern society.



"The government needs to modernise its legal system to make it more market responsive. It will have great positive outcome," he said.



Qatar remains one of the three top markets for companies doing business in the Middle East region with more than 200bn worth of major projects due to be awarded in the years to 2030

MENAFN2801201400630000ID1093761648

 


The Peninsula




  MENA News Headlines
 Jan 19 2017 - Food services market in GCC to hit USD28bn by 2020MENAFN
(MENAFN) Saudi Arabia and the UAE were the major food consumption centers in the GCC region, while both sides combined were home to 77pct of the whole GCC population in 2015.Additionally, food ...

 Jan 19 2017 - Dubai continues to attract GCC investorsMENAFN
(MENAFN) The GCC investors did not let local economic concerns weaken their interest in Dubai residential property, which is still seen as offering long-term fiscal security.Furthermore, Dubai market ...

 Jan 19 2017 - General Elect secures USD1.4bn deal from IraqMENAFN
(MENAFN) General Elect (GE) has secured more than USD1.4bn in orders from Iraq's Ministry of Elect to launch power plants as well as offer tech upgrades and maintain services.Additionally, the new ...

 Jan 19 2017 - Saudi Zain Telecom Q4 net loss narrows, beating estimatesMENAFN
(MENAFN) Telecom Zain Saudi reported a narrower fourth-quarter loss, beating estimates as revenue increased.Moreover, the firm has to make a quarterly profit since launching services in 2008 and has ...

 Jan 19 2017 - Arab Palestinian Co. pumps USD35mn bondsMENAFN
(MENAFN) Arab Palestinian Investment Co. has issued new five-year bonds with a nominal value of USD35mn in a private subscription with the collaboration of 9 banks and firms from Palestine, JO and ...

 Jan 19 2017 - Egypt's economy to increase by 3.9pctMENAFN
(MENAFN) Egypt's economy will grow by 3.9 percent in the fiscal year ending in June, missing the government's target of almost 5 percent and falling below last year's growth rate.Accordingly, ...

 Jan 19 2017 - UAE to achieve 44pct of its clean energy targets by 2050MENAFN
(MENAFN) The UAE is confident of achieving 44 percent of clean energy targets by 2050 due to the technological advancements in the renewable energy sector.Furthermore, the country will invest in ...

 Jan 19 2017 - Valerus VMS Configuration is Incredibly EasyMENAFN Press
(MENAFN Press) Valerus VMS Configuration is Incredibly Easy Wizard for quick configuration Average deployment in under 5 minutes HAUPPAUGE, NY, USA, January 18, 2017 /EINPresswire.com/ ...

 Jan 19 2017 - TEXAS PREMIER PLUMBING FOR ALL YOUR PLUMBING NEEDSMENAFN Press
(MENAFN Press) TEXAS PREMIER PLUMBING FOR ALL YOUR PLUMBING NEEDS Texas Premier Plumbing Texas Premier Plumbing is Part of your community Since 1989 Backed by 20 Years of experience. Texas ...

 Jan 19 2017 - Global Energy Efficient Elevators Market 2017 Share, Trend, Segmentation and Forecast to 2021MENAFN Press
(MENAFN Press) Global Energy Efficient Elevators Market 2017 Share, Trend, Segmentation and Forecast to 2021 Energy Efficient Elevators -Market Demand, Growth, Opportunities and analysis of Top Key ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Search News
Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help