Qatar participates in UN discussion on private sector partnerships
New York, The Gulf Observer: Qatar participated in a panel discussion titled “On the Road to the SDG Summit: Enhancing Partnerships with the Private Sector”, held at the United Nations headquarters in New York.
In a speech during the session, Qatar’s Permanent Representative to the UN H E Sheikha Alya Ahmed bin Saif Al Thani said that Qatar believes in the centrality of the private sector in achieving the 2030 Agenda for Sustainable Development, as the private sector is an important engine for innovation and economic growth.
She added that this was distinctively reflected in Qatar’s hosting of the 5th United Nations Conference on the Least Developed Countries and the Private Sector Forum, with the participation of 300 representatives of the business sector to discuss ways to enhance the role of the private sector in implementing the Doha Work Programme, and contributed to issuing commitments including financial investment, economic growth, job creation, and innovative solutions to support least developed countries.
Sheikha Alya referred to the fruitful partnership between Qatar and the private sector for implementing the Qatar National Vision 2030, which is a blueprint for social and economic development, such as the Qatar Investment Authority (QIA), which showed its commitment to the Sustainable Development Goals (SDGs) through its various initiatives and the establishment of a team dedicated to focusing on sustainable investment according to the UN principles for responsible investment.
She stated that QIA established the ‘Qatar investment fund for climate change’ to invest in projects and companies that are in line with the climate agenda and SDGs, including renewable energy projects, energy-efficient buildings, and sustainable transportation. She added that the fund entered into a partnership with the United Nations Framework Convention on Climate Change (UNFCCC) and the Global Green Growth Institute to support the implementation of climate-friendly initiatives and promote sustainable development, and have funded education and access to health care in developing countries.
Sheikha Alya noted that Qatar established the Qatar Development Bank to promote entrepreneurship and innovation by identifying investment opportunities and partnerships that increase investments compatible with the SDGs, such as the Green Financing, which provides financing for small and medium-sized enterprises, which work to develop environmentally sustainable projects.
In the context of encouraging investment in developing countries, she stated that Qatar signed more than 50 bilateral agreements to encourage investment, adding the country is also focusing on strengthening means of implementation and revitalising the global partnership for sustainable development by providing financial resources to developing countries through transfers of expatriate labour, which amounted to 7.92 percent of Qatar’s GDP in 2018.
In her speech, Sheikha Alya highlighted Qatar’s contribution of US$50m to the Lives and Livelihoods Fund, established by the Qatar Fund for Development (QFFD) in partnership with the Islamic Development Bank and other donors to provide financial support to private sector companies that invest in sustainable development initiatives in developing countries.
Regarding the SDG Summit, which will take place in September, the Permanent Representative of the State of Qatar affirmed that the private sector would have a major role in the success and implementation of the SDGs.
