Arab economies attach special importance to private sector companies as they play a pivotal role in advancing economic growth, an official of Qatar International Centre for Conciliation and Arbitration Qicca has said in a recent webinar. Sheikh Thani added that the speed of economic recovery depends mainly on the ability of companies to resume usual activities, and to establish programmes to enhance productivity, promote competitiveness, and participation in the development plans developed by the state. He noted that companies and business institutions faced a sharp decline of revenues and activities during the pandemic, prompting governments around the world to counter the impact of the health crisis, such as stimulus packages, postponement of loan payments, and exemptions in the payment of utilities and rent, among others. To solve these legal difficulties, he said it is necessary to establish mechanisms that allow contractors to negotiate and review contract terms or suspend the implementation of obligations for a specific period. Badeal executive director for Business Solutions Dr Ahmed Alfaqeeh said the webinar is an extension of the guideline that was launched in October , which dealt with the most important issues related to recovery and resilience of businesses.
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