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Global business leaders come to Doha seeking answers to US policy uncertainties
Qatari Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani delivers an opening address during the Qatar Economic Forum at the Raffles Fairmont in Doha, Qatar, Tuesday (local time). Korea Times photo by Park Jae-hyuk
By Park Jae-hyuk
Key aides to Trump join Qatar Economic Forum amid shifting global dynamics
DOHA, Qatar — Global policymakers and CEOs joined the fifth Qatar Economic Forum in the Middle Eastern country's capital on Tuesday (local time), to address the looming threats of a new trade war under the leadership of U.S. President Donald Trump.
Taking place just a week after Trump's visit to Qatar, the three-day forum, powered by Bloomberg, began to explore how global businesses are tapping into the Middle East's economic trajectory amid an unpredictable U.S. administration.
Under the theme "The Road to 2030: Transforming the Global Economy," the event also provides a venue for discussion on how the Gulf nations' 2030 visions will impact the global economy.
Among Korean companies, Samsung C&T sent Oh Se-chul, CEO of the company's construction division, to discuss how companies and governments should cope with geopolitics and technological advancements that have reshaped foreign direct investment and global supply chains.
The Korean firm has carried out various mega-size energy infrastructure development projects in Qatar, including construction of solar power plants, facilities to store and load liquefied natural gas and a desalination and combined cycle power plant.
Participants await the opening of the Qatar Economic Forum at the Raffles Fairmont in Doha, Qatar, Tuesday (local time). Korea Times photo by Park Jae-hyuk
Key aides to Trump also put their names on the list of featured speakers.
Tesla CEO Elon Musk, de facto leader of the U.S. Department of Government Efficiency, decided to attend the annual event virtually again this year, following his remote participation in 2022. Last week, Musk accompanied Trump on his visit to Qatar and other Middle Eastern countries — his first presidential tour abroad after reelection.
Donald Trump Jr., the U.S. president's oldest son, will attend a session on Wednesday with Omeed Malik, president of 1789 Capital, a Florida-based venture capital firm, to talk about their "unique plans" for investing in American industry and innovation.
Just after Trump Jr.'s speech, a special podcast taping by Bloomberg economists will air to explore what Trumponomics means for the Middle East.
Last week, Trump's tour of Middle Eastern countries led them to pledge billions of dollars in investments in the U.S.
"The president's visit to the Gulf region has been a great demonstration for the potential of that region," Qatari Prime Minister and Foreign Minister Sheikh Mohammed bin Abdulrahman Al-Thani said during the forum.
"This sent a very strong message to the entire world that there is a very high potential in that region, this region is flourishing and this region has a lot to do when it comes to contribution to the future technology and revolution."
Qatar, in particular, announced its sovereign wealth fund's planned spending of an additional $500 billion on the U.S. over the next decade.
The country also offered a luxury Boeing 747-8 jet to be used for Air Force One, while Qatar Airways agreed to purchase 210 new Boeing aircraft valued at $96 billion.
Describing the jet as a normal gift for an ally, similar to the Statue of Liberty, the Qatari prime minister denied criticism that his country gave it as a bribe to buy influence with the Trump administration.
"I hope that the United States looks to Qatar as a reliable partner in diplomacy that is not trying to buy influence," he said.