QDB CEO: Private Sector Key to Economic Resilience and Cross-Border Cooperation
Doha, October 29 (QNA) - CEO of Qatar Development Bank (QDB) Abdulrahman bin Hesham Al Sowaidi has affirmed that the private sector is a key pillar in strengthening economic resilience and cross-border cooperation, stressing that companies capable of operating in multiple markets while maintaining ties with partners worldwide are better positioned to grow and withstand shifts in the global economy.
He made the remarks during a panel discussion titled "Thinking Global, Acting Global" at the "Global Perspectives: In Doha" event.
He explained that while governments establish frameworks and agreements, businesses are the ones that translate them into investments, jobs, and partnerships.
He noted that global shifts have not halted the cross-border movement of capital, talent, and companies, but have made such movements more selective in choosing destinations.
This, he said, strengthens Qatar's position as a bridge connecting markets.
Amid the rapid transformations taking place in the global economy, he underlined, development institutions and banks play an increasingly important role in connecting investment ambitions with tangible opportunities on the ground by building effective partnerships that translate into productive projects, high-quality jobs, and sustainable economic impact.
Al Sowaidi explained that QDB pursues two complementary objectives. It attracts promising international entrepreneurs and startups, particularly in advanced technology, to establish their businesses in Qatar and use the country as a launchpad into regional and global markets. At the same time, it supports Qatar-based companies in expanding into overseas markets through a range of services, including business development, export support, and strengthening the innovation ecosystem.
These efforts are complemented by strategic partnerships with international organizations specializing in business development to establish technology companies in Qatar that serve local, regional, and global markets, he added.
Addressing economic resilience, Al Sowaidi said regional disruptions witnessed this year had demonstrated that resilience must be built well before a crisis occurs, with the real test being the ability to respond as quickly as possible when a crisis strikes.
He noted that Qatar's non-hydrocarbon economy had continued to grow despite challenges, providing an important indication of the resilience the country had developed.
QDB had moved swiftly to support companies and factories, maintain their connections with suppliers and customers across borders, and identify new opportunities for growth and development, he added.
He said the real impact of development banks is measured not only by the volume of financing they provide, but also by the new opportunities that financing creates for businesses and companies.
Ultimately, he stressed, a development bank's success is measured by its ability to empower its clients to grow and achieve sustainability to the point where they no longer need its support, he said.
The panel explored how business leaders, philanthropists, diplomats, and innovators can think and act globally, build connections across borders, establish new relationships, find common ground, and develop collective solutions as the global economy and international politics become increasingly fragmented along new lines of division.
In this context, HH President of the Anna Lindh Euro-Mediterranean Foundation for Dialogue Between Cultures and Founder of the Jordan Media Institute in the Hashemite Kingdom of Jordan Princess Rym Ali, underscored the importance of living within a shared reality and overcoming the isolation toward which some societies may gravitate.
Without such a shared reality, she explained, people cannot communicate on the basis of a common understanding, a situation that poses serious risks.
You could live your entire life without realizing that refugees exist, she added, without knowing why they became refugees, or understanding that a refugee can be a valuable addition to society rather than a burden. You could live your whole life without knowing that a genocide is taking place in a neighboring country. That is where the danger lies.
She underscored the importance of building trust to create bridges and dismantle barriers between peoples of different countries, emphasizing that culture and responsible media are essential to building that trust.
For his part, HE European Union Special Representative for the Gulf region Luigi Di Maio highlighted the role of responsible media in strengthening global interconnectedness.
He warned that media driven by agendas designed to sway public opinion threaten diplomacy and politics, allowing extremists to entrench their positions without considering opposing perspectives.
Di Maio said when he looks at this particular region, he sees a glimmer of hope amid a sea of pessimism. Despite wars, growing global polarization, and the adoption of highly extreme positions by many parties, some countries, regions, and entities are using diplomacy to dismantle this dynamic of global polarization.
This is, he added, what we see here in the Middle East, particularly in the Gulf, where countries such as Qatar are using diplomacy and seeking to mediate between powers that possess all the tools necessary to achieve peace.
He explained that engaging regional powers to help preserve the multilateral order could therefore offer a useful middle ground, combining global thinking with local action.
On infrastructure, HE Secretary-General of the Digital Cooperation Organization (DGO) Dima Al Yahya emphasized that the world is interconnected through critical infrastructure, including digital systems, logistics services, energy networks, and other essential systems.
She noted that disruptions to this physical infrastructure can trigger consequences extending beyond national borders, with severe economic and social repercussions.
Al Yahya explained that access to and use of critical infrastructure are continually shaped by geopolitical decisions. Access to technology, investment, and even infrastructure itself depends on which parties hold power and control, she said, helping explain the widening gap between governments. (QNA)
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