His Excellency Sheikh Mohammed bin Hamad Al-Thani, The Minister of Commerce and Industry, participated in the Closing Ceremony of the Private Sector Forum, held during 5-7 March 2023, on the margins of the 5th United Nations Conference on the Least Developed Countries, which is being organized in Doha during 5-9 March 2023.
The Closing Ceremony, which was jointly organized by the Office of the High Representative of the United Nations for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States, Microsoft, and Qatar Chamber, witnessed the participation of HE Mrs. Rabab Fatima, High Representative of the United Nations for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States, Mr. Chris Sharrock, Vice President, UN Affairs and International Organizations, Microsoft, and several Chief Executive Officers, business representatives and heads of international organizations.
During his speech, H.E. Minister of Commerce and Industry stressed the importance of the Conference as it represents an opportunity that is available once every ten years, to regenerate hope and hasten the pace of sustainable development in the regions that need international help the most.
He added that this conference represents an opportunity to start an effective and constructive dialogue between the country leaders and governments of the least developed countries, the representatives of the private sector and civil society, to come up with creative ideas and transform pledges into tangible results.
He also mentioned that the Private Sector Forum serves as an effective platform to present concrete and practical proposals to develop this sector in the least developed countries, in addition to facing the current challenges and concluding innovative commercial partnerships with these states that are home to more than a billion people.
The Minister of Commerce and Industry pointed out the broad and high-level participation in this Forum, which reflects the importance of enhancing the role of the private sector in the least developed countries, by supporting this sector, building stronger partnerships with it, and promoting its growth will have positive effects on investment, trade and job creation, in addition to enhancing innovation and serving as an engine to stimulate economic growth in the least developed nations.
H.E. the Minister added that believing in this role, the Doha Program of Action for the Least Developed Countries attaches special importance to supporting the private sector by requesting pledges to support the micro, small, and medium-sized enterprises, steamline the supply chains, ease access to markets, in addition to adopting transparent and open frameworks for business and investment and maintaining intellectual property rights, in line with the international standards. Moreover, this program is taking strategic steps to fill in the digital gaps, by providing financial support for the least developed countries and facilitating the access of the private sector and small companies in these nations to the appropriate digital tools and platforms, to strengthen their links with the international markets.
The Minister also pointed out that amidst the current global challenges, especially the conflicts and the climatic change that affect the least developed countries the most, including food security, poverty, and inequality, in addition to debts that hinder their development efforts, it’s our collective duty to accelerate our response and meet their urgent development needs.
He added that out of Qatar’s firm commitment to international cooperation and joint action to supporting the needs of comprehensive development in the least developed nations, His Highness Sheikh Tamim bin Hamad Al-Thani, the Amir of the State of Qatar, has directed to provide a total of $60 million, including $10 million to help implement the activities of the Doha Program of Action for the Least Developed Countries, and $50 million to support the desired outcomes of the program and enhance the resilience of the involved countries.
H.E. mentioned that this important initiative reflects the firm belief of the State of Qatar’s leadership that international humanitarian solidarity is the only way to build a new world, one that is safer, fairer, and stable for current and future generations.
His Excellency concluded by hoping that the outcomes and recommendations of the Private Sector Forum will be implemented, through the launch of innovative initiatives, to advance the Least Developed Countries’ efforts to build a better future for their people.
The Private Sector Forum aims to increase cooperation between the Least Developed Countries and the private sector and to stimulate innovation to achieve the development goals of these countries. The Forum also addressed various ways to enhance the private sector’s investment in 5 priority fields: Sustainable Energy, Agriculture and Rural Development, Communications, Climate Change, and Sustainable Tourism.
