Laws to be reviewed to ensure Ease of Doing Business

The Technical Committee to Stimulate Private Sector Participation in Economic Development Projects is working to review laws, rules and regulations to ensure Ease of Doing Business in the country.
“The Committee aims at promoting and expanding growth in the private sector, and to get closer to the challenges it faces and work to overcome them by reviewing laws, rules and regulations to ensure the ease of the business environment,” said Khamis Al Mohannadi, Head of the Technical Committee to Stimulate Private Sector Participation in Economic Development Projects.
Al Mohannadi was speaking at ‘Improving Qatar’s Business Environment Forum’ held yesterday at Park Hyatt Doha Hotel to discuss the reforms that the business environment in Qatar recently witnessed. The event was attended by representatives of Ministries and government agencies concerned with index of Ease of Doing Business, a number of the most prominent investors and private sector companies.
Al Mohannadi talked about the importance of this forum in communicating with investors and representatives of the private sector. “Qatar has succeeded over the past years in consolidating its position on the map of the global economy, where the Qatari economy is one of the strongest regional economies and among the most promising economies in the world in terms of competitiveness and growth, despite the unjust blockade imposed on the country,” said Al Mohannadi.
Nasser Al Taweel Advisor to H E the Minister of Finance; Saleh Al Khulaifi, Assistant Undersecretary at Ministry of Commerce and Industry, and Saud bin Abdullah Al Atiyya, Assistant Undersecretary for Economic Affairs at the Ministry of Finance, also spoke at the Forum.
The speakers presented the most important reforms and improvements witnessed by Qatar in various fields with the aim of making Qatar the leading business and financial center in the region, which led to the solutions of the  Qatar among the list of the top twenty countries that have implemented reforms related to Ease of Doing Business for the year 2020 in the special report of the business team from 190 countries.
The Forum witnessed many discussions and exchanges of views and opinions on the ease of doing business in Qatar, the most important challenges facing the private sector.
Nasser Al Taweel Advisor to H E the Minister of Finance said that Qatar is announcing new law that will allow businesses to pledge their moveable assets thus enabling companies and SMEs to obtain financing.
“The law will be coupled with a first class, easy to use, fully electronic online notice based register that will be managed by Qatar Central Securities Depository Company (QCSD),” said Al Taweel. He said that the system also based on international best practices and will enable the pledgor to register pledges online without the need to visit (QCSD) and the system will be open for public to be searched.  
Ideas and initiatives were also presented to improve the business environment, which makes it easier for the private sector, traders, local companies and investors to conduct their financial and commercial transactions and facilitate the establishment of local companies and partnership between Qatari investor and international companies.
Qatar ranked 77 globally in the World Bank report for indicators of ease of doing business for the year 2020, as Qatar’s evaluation rose globally in a number of key indicators, as Qatar ranked first globally in the property registration index, and third in the world in the tax payment index.
And in the index of obtaining building permits, Qatar secured 13th place. The state’s index on obtaining electricity and obtaining credit witnessed a significant increase.