St. Petersburg: The State of Qatar participated in the 28th St. Petersburg International Economic Forum, which took place in Russia over four days. The event included participation from several heads of government, senior officials, and experts from around the world.

According to Qatar News Agency, the official delegation from Qatar was led by HE Minister of State for Foreign Trade Affairs Dr. Ahmed bin Mohammed Al Sayed. Representatives from the Ministry of Commerce and Industry, the Qatar Investment Authority, the Investment Promotion Agency Qatar (Invest Qatar), and the Qatar Chamber of Commerce and Industry were also part of the delegation.

The Qatari team emphasized Qatar's strong economy and its leading regional and international position. They showcased the country's favorable investment environment for global businesspeople and investors by presenting key incentives, advantages, and initiatives launched to support the private sector and enhance the competitiveness and diversification of Qatar's economy in line with Qatar National Vision 2030.

HE Dr. Al Sayed participated in the forum's plenary session alongside HE President Vladimir Putin of the Russian Federation, numerous prominent political and economic figures, and decision-makers globally. He also engaged in a high-level discussion on redesigning the global financial and trade framework for new growth engines.

In his remarks, Dr. Al Sayed highlighted Qatar's role in fostering innovation and research as essential components of sustainable economic growth. He pointed to the Qatar Research, Development and Innovation Strategy 2030, which aims to transform the nation by enhancing institutional infrastructure and prioritizing areas like food security, health, energy, technology, and logistics.

Dr. Al Sayed encouraged both public and private sectors to adopt advanced technological solutions to boost efficiency, competitiveness, and entrepreneurship, particularly in priority sectors. He described the Gulf Cooperation Council (GCC) as a successful model of regional integration, noting its achievements in unifying economic systems and strengthening infrastructure and services.

He further highlighted that the GCC's GDP has reached around USD 2.2 trillion, placing the bloc 9th globally, while GCC financial markets rank 7th worldwide by market capitalization, representing 4.3 percent of total global markets. In 2024, the non-oil sector has contributed 75.9 percent to the region's GDP.

Dr. Al Sayed also underscored Qatar's success in implementing a digital economy, driven by advanced infrastructure and Fourth Industrial Revolution technologies, positioning the country at the forefront of the global shift toward a knowledge-based economy.

On the forum's sidelines, Dr. Al Sayed held separate meetings with HE Russian Deputy Minister of Agriculture Maxim Markovich and Chairman of VTB Bank Andrei Kostin. Discussions focused on cooperation prospects across various sectors and highlighted Qatar's incentives, legislation, and promising opportunities for entrepreneurs and business leaders.

Dr. Al Sayed also toured the accompanying exhibition, visiting the pavilion of the Kingdom of Bahrain, this year's guest of honor, and other participating entities. He was briefed on the latest services and innovations in sectors like industry, financial services, information technology, healthcare, education, business consulting, telecommunications, logistics, transport, real estate, hospitality, tourism, and metals and mining.