Key takeaways from the 2023 Qatar Economic Forum, powered by Bloomberg
May 2023
Hello and welcome!👋
This edition focuses on the 2023 Qatar Economic Forum, which took place in Doha between 23-25 May. I was fortunate enough to join the Bloomberg team as an editorial producer, and got to listen to an impressive variety of speakers. Their perspectives are outlined below.
As always, your likes, comments and questions are much appreciated!
The Qatar Economic Forum brought together presidents, ministers, world bankers and industry titans for three days of illuminating conversations. The agenda was packed with newsmakers and thought leaders, who covered everything from economic policies and supply chains to tourism and sports franchises.
Here are some of the key themes and takeaways from the event:
Russia-Ukraine war: Hungary’s Viktor Orbán described the war as “a failure of diplomacy”, warning that “there is no victory for poor Ukrainians on the battlefield”. Prime Minister Garibashvili of Georgia shared a similar sentiment and asked the international community to do more to encourage peace talks. But former CIA director, General David Petraeus, was confident that “Ukraine is going to show what can happen when you have well-trained, well-equipped, substantial additional forces”.
Great power rivalries: On the topic of geopolitical tensions, Bangladesh’s Sheikh Hasina and Malaysia’s economy minister remained neutral, saying their governments worked with everyone. Ghanaian President Akufo-Addo said “China has been a strong and good friend”, while Paraguay’s outgoing president defended his country’s strategic alliance with Taiwan. Steve Mnuchin, former US Treasury Secretary, said relations between Washington and Beijing “have deteriorated to the point where it is quite concerning”.
The Gulf’s ascendance: Saudi and Qatari ministers underlined the region’s critical role in global energy security as well as their long-term approach to diversification. They also described the (now reunified) GCC market as a bright spot in an uncertain landscape and said they were committed to providing prosperity for future generations. IMF managing director Kristalina Georgieva praised the Gulf’s “remarkable determination to pursue reforms”. On the international finance front, Blackstone’s Stephen Schwarzman said “Middle Eastern sovereign funds have revolutionised capital”.
Path to sustainability: Progress has been made on goal setting but decarbonisation needs to happen at a significantly faster pace, noted PwC’s Bob Moritz. Meanwhile, the boss of Qatar Airways voiced scepticism about the aviation sector hitting net-zero emissions by 2050, citing a lack of sustainable jet fuel as one factor. Regarding commodities, Ivanhoe Mines founder Robert Friedland predicted that “oceans of copper” will be required to boost charging capacity for electric vehicles.
Advances in artificial intelligence: TikTok CEO Shou Chew said AI “could really quite profoundly improve our productivity across many things. It’s a great tool for us, to make our daily lives and our daily work a lot better”. The prospect of efficiency gains was echoed by Insider CEO Hande Çilingir and Ualá CEO Pierpaolo Barbieri, both of whom believe that AI and machine learning will accelerate productivity.
All of the Forum’s discussions are available to watch on the official YouTube channel.
Thanks for reading! Take care and stay curious, Sara x