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Qatar’s CEOs Exhibit Strong Confidence in Growth, Embrace ESG, and Prioritize AI Investment

In this post:

  • Qatar CEOs show strong confidence in growth, outpacing global peers.
  • ESG practices gain traction as Qatar’s CEOs prioritize sustainability.
  • AI investment takes center stage in Qatar’s business strategy.

In KPMG’s 2023 CEO Outlook Report, Qatar’s business leaders are displaying an impressive 80% confidence in the growth trajectory of their organizations over the next three years. This remarkable optimism stands out on the global stage, showcasing the strategic focus on organic growth, digitization, and resilience that Qatar’s CEOs are committed to, even amid economic uncertainties.

Optimism amid uncertainty

Qatar’s CEOs are navigating the ever-evolving economic and geopolitical landscape with unwavering optimism, according to the KPMG report. Despite the challenges posed by cyber threats and regulatory hurdles, these leaders remain steadfast in their commitment to integrity and long-term strategic planning. Ahmed Abu-Sharkh, Country Senior Partner at KPMG in Qatar, notes that CEOs in Qatar are ready to make bold decisions for the greater good, even in complex times.

This unwavering optimism extends to the growth prospects of their organizations and industries. Notably, 80% of Qatar’s CEOs express confidence in their organizations’ growth paths, surpassing their global counterparts. Their focus on organic growth, digitization, and resilient practices clearly indicates a determination to weather economic uncertainties. While national and global economic growth prompts more caution, Qatar’s CEOs continue to shine with their optimism for organizational growth.

ESG gains traction

Qatar’s CEOs also recognize the long-term benefits of Environmental, Social, and Governance (ESG) practices. These include enhancing brand reputation, improving customer relations, and attracting top talent despite potential challenges such as increased costs and stakeholder scrutiny. Omar Mahmood, Partner and Head of Financial Services at KPMG in Qatar, emphasizes that ESG presents a golden opportunity for Qatar’s CEOs to drive long-term sustainable growth by strengthening stakeholder bonds and elevating their ESG initiatives.

According to the report, ESG is no longer viewed as a mere trend but as a transformative force in corporate strategy. This shift reflects a commitment to responsible and sustainable business practices that align with global expectations.

Workforce dynamics

The KPMG CEO Outlook report sheds light on Qatar’s perspective on the future of the workforce. While 72% anticipate a full return to the office and 24% contemplate hybrid models, there is a strong emphasis on inclusion, diversity, and equity (IDE). Barbara Henzen, Partner and Head of Tax at KPMG in Qatar, highlights the power of IDE as catalysts for sustainable growth, emphasizing that diverse leadership is progressive and essential for future success in today’s dynamic business landscape.

Prioritizing AI investment

With a clear understanding of AI’s transformative potential, 44% of Qatar’s CEOs prioritize investment in this technology. Their focus is on profitability, efficiency, innovation, and cybersecurity. CEOs remain resilient despite challenges such as employee adoption, ethical considerations, technical skills, and regulatory gaps. They view regulation as both a hurdle and a necessary element for responsible AI practices. Nizar Hneini, Partner and Head of Digital & Innovation at KPMG in Qatar, underscores the role of generative AI in transforming business, promising innovation and efficiency. CEOs are committed to responsibly leveraging AI’s potential, ensuring ethical use and robust governance, paving the way for prosperous growth and a tech-enabled future.

A wealth of insights

This year’s KPMG CEO Outlook report presents significant insights and official statements from prominent leaders in Qatar’s business landscape, including Sheikh Ali bin Jabor Al Thani, Chief Executive Officer of Ooredoo Qatar; Salman Gulzar, Country Head of Mashreq Bank; Abdul Hakeem Mostafawi, Chief Executive Officer of HSBC Qatar; Salem Al Mannai, Chief Executive Officer of QIC Group; Ibrahim Bn Khalid Al Sulaiti, President of YEC; and Sheikh Hamad Abdulla Jassim Al Thani, Chief Executive Officer of Vodafone Qatar.

As revealed in the KPMG Qatar 2023 CEO Outlook Report, Qatar’s CEOs are characterized by their unwavering optimism. This report underscores their commitment to strategic, long-term planning and their readiness to embrace challenges and opportunities on their path to growth and sustainability.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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