The Qatar Chamber proposed an initiative to establish a Productive Resource Development Fund with a UN sponsorship with the aim of developing production resources, as a contribution to support the least developed countries towards the structural transformation of the economy.
This was revealed by the Qatar Chamber board member and Chairperson of the Food Security Committee Mohamed bin Ahmed Al-Obaidli during a session titled ‘Agriculture and Rural Development’ on the second day of the LDC5 Private Sector Forum.
Speaking during the session, Al-Obaidli stressed the Qatar Chamber’s readiness to host the Fund’s headquarters and facilitate its initial meetings for discussing this idea with all its technical, financial, and legal dimensions under the UN sponsorship, in order to put the initiative into practice and launch this fund from Qatar during the current year.
The Fund aims to contribute to supporting the least developed countries by transferring productive resources and jobs generation.
Al-Obaidli also said that Qatar attached the food security special attention, indicating that the success it achieved in this sector was due to the collective efforts of all stakeholders and the interest in all components of supply chains.
Underscoring the private sector role, Al -Obaidli indicated that it has a major role in this process, through its capabilities to provide financing, technology and infrastructure necessary for the structural transformation of rural economies, establishing new industries with added value, increasing farmers ‘income and creating jobs.