Qatar Chamber Calls for Gulf Private Sector Incentives to invest in Green Economy

Riyadh, October 19 (QNA) – Qatar Chamber called for the necessity of adopting industrial strategies that give incentives to the private sector in the Gulf region to invest in the green economy and renewable energy sources amid climate change and the depletion of natural resources, which represent a major threat to economic growth.

This came during the Qatar Chamber’s participation in the a consultative meeting that brought together Ministers of Commerce and Industry, and heads of the Chambers of Commerce in GCC member states, held today in the Saudi capital, Riyadh.

During the meeting, a number of issues related to cooperation in the commercial and industrial fields among the GCC countries were reviewed.

Second Vice-Chairman of the Qatar Chamber Rashid bin Hamad Al Athba said during his review of the Chambers proposal, that the global economy is suffering from a large wave of inflation due to the repercussions of the COVID-19 pandemic, the Russian-Ukrainian crisis, climate change and the depletion of natural resources, which represent a real threat to economic growth, which requires accelerated efforts to pay attention to the green economy and renewable energy sources to create new jobs.

He pointed out that the Gulf economy is not immune from the global inflation wave due to imported inflation resulting from the high prices of imported raw materials and the high costs of shipping to global supply chains. (QNA)