Qatar’s limited liability companies register year-on-year growth of 12%

Limited liability companies (LLCs), which represent 82% of Qatar’s total trade activity, registered year-on-year growth of 12% in 2016, according to Minister of Economy and Commerce HE Sheikh Ahmed bin Jassim Al Thani.

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Speaking at the opening of the ‘4th International Conference on Entrepreneurship in Economic Development’, he said the private sector is playing a bigger role in the national economy, noting that SMEs have become a main partner in sustainable development.

Sheikh Ahmed said Qatar managed gradually to move from an economy relying on oil to a diversified one where non-oil sectors contributed 61% to GDP, up from 21% in previous years. He called on entrepreneurs to establish innovative projects that would provide added value to the national economy in order to contribute to raising non-oil exports and realizing Qatar National Vision 2030.

The minister touched on the main initiatives launched in support of entrepreneurs, such as the launch of the single-window system to serve investors, in addition to the facilitation of procedures of construction licenses for business centers and the launch of the logistic areas project. He highlighted the service of completely establishing a company through the ministry’s mobile application.

Conference focus

The conference focuses on the importance of introducing entrepreneurship to younger generations and the subsequent role in building capacities and skills for entrepreneurs, besides learning about the experiences of developed countries in this regard.

The conference reviews the efforts of Qatar and regional countries in teaching entrepreneurship at schools and universities as well as to interested individuals, besides showcasing global experiences in the field.

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