HH the Amir Inaugurates Advisory Council’s 47th Session

HH the Amir Sheikh Tamim bin Hamad Al Thani inaugurated the 47th ordinary session of the Advisory Council at its premises yesterday morning.

Father Amir HH Sheikh Hamad bin Khalifa al Thani attended the inauguration ceremony, and Personal Representative of HH the Amir HH Sheikh Jassim bin Hamad Al Thani, HH Sheikh Abdullah bin Khalifa Al Thani, HH Sheikh Mohammed bin Khalifa Al Thani, and HE Sheikh Jassim bin Khalifa al Thani were also present. And the Prime Minister and Minister of Interior HE Sheikh Abdullah bin Nasser bin Khalifa Al Thani.

HH the Amir “may God preserve him,” made a speech on this occasion, HH praised that Qataris have become more committed to the ethics they are famous for, and their awareness and realization of the scale of their country’s accomplishments, and the importance of national sovereignty and independence of the country political decision, under which these accomplishments were achieved, have been deepened, especially under the current circumstances. Which also Qatar’s economic invulnerability against external tremors has been boosted, and the country’s self-reliance has increased.

HH the Amir said in the speech that a drop in Qatar’s hydrocarbon GDP was coupled with about 4% growth in GDP from other sources, thus reflecting the role of economic diversification as an important growth component.

HH the Amir added, Exports increased by 18%, since the beginning of the blockade, leading to a significant improvement in the public budget, trade balance and current account, where the World Bank expects Qatar’s economic growth rate to reach 2.8% in 2018, and will rise to around 3% in the following years.

HH the Amir pointed out that Preliminary studies have been completed for the development of a major project for the production of LNG from the North Field, thus Qatar will maintain its position as the world’s largest liquefied natural gas exporter for many years to come. The merger of Qatar Gas Company and Ras Gas Company was carried out so that gas production, liquefaction and marketing will be dealt with exclusively by one company.

The merger was aimed at unifying the distinctive resources and potentials of the two companies, and creating a unique energy player in terms of scale, efficiency and centrality, as well as reducing annual operating costs, as the merger saves about QR2 billion annually.

At the end of the speech HH the Amir stressed that the preparations for the election of the Legislative Council are underway at the level of the ministerial and experts’ committees, and heading forth to implement this decision.

Source: Government of Qatar