Doha, March 08 (QNA) – HE Minister of Commerce and Industry Sheikh Mohammed bin Hamad bin Qassim Al-Thani called for taking strategic steps to bridge digital divides by providing the necessary financial support to the least developed countries and facilitating the access of the private sector and small companies in these nations to the appropriate digital tools and platforms that link them with global markets.
In a speech delivered at the conclusion of the Private Sector Forum, held within the 5th United Nations Conference on the Least Developed Countries (LDC5) and with the participation of business representatives and heads of international organisations, HE Minister of Commerce and Industry stressed that the Doha Programme of Action for the Least Developed Countries for the Decade 2022-2031 (DPoA) attaches special importance to supporting the private sector, calling for the need to commit to supporting micro, small, and medium-sized enterprises (MSMEs), streamline the supply chains and ease access to markets, in addition to adopting transparent and open regulatory frameworks for business and investment and maintaining intellectual property rights, in line with the legal international frameworks.
HE the Minister pointed out that amidst the current global challenges, especially the conflicts and the climatic change that affect the least developed countries the most, including food security, poverty, widening inequality gaps, global financial system and debts crisis that hinders their development efforts, it is a collective duty to accelerate response and meet the urgent development needs of those countries.
HE the Minister of Commerce and Industry added that out of the State of Qatar’s firm commitment to international cooperation and joint action to supporting the path of comprehensive development in the least developed countries, it took the initiative to provide a total of $60 million, including $10 million to help implement the activities of the Doha Programme of Action for the Least Developed Countries, and $50 million to support the outcomes of the programme and enhance the resilience of these involved countries.
This important initiative reflects the firm belief of the State of Qatar’s leadership that international humanitarian solidarity is the only way to build a new world, one that is safer, fairer, and stable for current and future generations, HE noted.
HE stressed the importance of the private sector forum, as it is an opportunity to present concrete and practical proposals to develop this sector in the least developed countries, in addition to facing the current challenges and establishing innovative commercial partnerships with these states that are home to more than a billion people.
The high-level participation in this forum reflected the importance attached to enhancing the role of the private sector in the least developed countries, HE said, pointing out that supporting this sector, promoting its growth and building stronger partnerships with it, will have a positive effect on increasing investment, stimulating trade, providing job opportunities, enhancing innovation, and serving as an engine to stimulate economic growth in the least developed nations.
Regarding to the Fifth United Nations Conference on the Least Developed Countries, HE Sheikh Mohammed bin Hamad bin Qassim Al-Thani underlined the great importance of the conference as it is an opportunity to start an effective and constructive dialogue between the leaders and governments of the least developed countries, the representatives of the private sector and civil society, to come up with creative ideas and transform pledges into tangible results, noting that the conference also represents an opportunity that is available once every ten years, to regenerate hope and hasten the pace of sustainable development in the regions that need international help the most.
HE Minister of Commerce and Industry Sheikh Mohammed bin Hamad bin Qassim Al-Thani expressed hope that the outcome and recommendations of the private sector forum will be implemented, in a way that contributes to implementing practical and innovative initiatives that support this sector in the least developed countries and building a better future for their people.
For his part, Vice-Chairman of the National Planning Commission of Nepal Bahadur Shrestha underlined the important role of the private sector and its investments in the least developed countries, in achieving sustainable development and get out of the list of these countries, stressing that the private sector is the main engine of development in the least developed countries. He also called for the need to move from a lower to higher-productivity economy.
In a speech delivered at the conclusion of the Private Sector Forum held within the Fifth United Nations Conference on the Least Developed Countries in Doha, Bahadur Shrestha stressed the importance of private sector initiatives that emphasized the unification of the world’s responsibilities towards the least developed countries, in order to achieve structural transformation in their economies. He called for financing projects in these countries and uniting together to overcome the challenges and obstacles that prevent development.
The Nepalese official expressed aspiration for cooperation, solidarity, and contribution of all parties and to work together in the form of partnerships and investments for the private sector in sectors such as infrastructure, with the need for mutual respect in order to build a prosperous future for all.
He also called for the need to ensure the implementation of commitments through mechanisms that ensure communication with the private sector in the implementation of partnerships, pointing to the importance of cooperation between the UN Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States (UN-OHRLLS) and business communities, in order to direct investments to these countries and keep them on the United Nations agenda, which can only be implemented by adhering to the Doha Programme of Action for the Least Developed Countries for the Decade 2022-2031.
In turn, Assistant to the Administrator of the Bureau for Policy, Planning, and Learning (PPL) Michele Sumilas said that no single country or organization can solve these problems without the intervention of the private sector, stressing the need for cooperation to overcome issues such as food security.
Sumilas added, in her speech during the forum, that the flow of capital must be ensured in the least developed countries in order to provide job opportunities, open new markets and give hope to young people.
She focused on the strategic priorities of the Doha Programme of Action, which supports economic efforts to ensure sustainable development, noting the importance of partnerships between employers’ organizations, civil society and youth organizations, and cooperation between the public and private sectors in order to directly support development.
Chief Economist and Assistant Director General for Economic and Social Development at the Food and Agriculture Organization of the United Nations (FAO) Maximo Torero Cullen stressed the prominent role and great importance of the agricultural sector in the least developed countries, not only because it is a productive sector, but because it is related to nutrition and has complexities due to its association with climate and other natural hazards.
Cullen explained that the Covid-19 pandemic crisis greatly affected that sector, especially for farmers in small and medium farms, indicating that the sector is under great pressure, and the private sector must be aware of these issues and challenges in order to advance this sector and achieve gains.
In his speech at the conclusion of the Private Sector Forum, Cullen noted the importance of partnerships between the public and private sectors, and partnerships and cooperation between the countries of the South, in order to provide other opportunities for investment, stressing also the need to invest in innovation, science and technology to control diseases and exploit the few resources to achieve greater production.
He called for prioritizing the least developed countries and implementing accountability in investment, and for each party to shoulder its responsibilities, whether in the private sector or other sectors, and achieve attraction for investment in the agricultural sector. He also called for empowering women and youth to work in this sector, with the need for the private sector to fulfil commitments towards the agricultural and food sectors in the least developed countries.
Meanwhile, Director of the Global Business Network Heidi Schroderus-Fox addressed the issue of sustainable energy, stressing that the least developed countries need investments worth $45 billion annually in sustainable energy by 2030, which will only be achieved by involving the private sector in order to move from mere policies to practices.
Fox added, at the conclusion of the private sector forum, that this matter requires loans and grants for the least developed countries, as well as accelerating financing for sustainable energy providers and accelerating a time map to support national companies in these countries, calling also for rural development and making use of the resources in these countries regarding long-term plans for energy production.
The private Sector Forum Aims to enhance cooperation between the least developed countries and the private sector, and stimulate innovation in order to achieve the development aspirations of these countries, as discussions in the forum touched on ways to enhance private sector investments in five priority sectors, namely sustainable energy, agriculture and rural development, communications, climate change, and sustainable tourism. (QNA)
Source: Qatar News Agency