I have known and admired Aamal Company for many years, including through all my work at the Qatar Stock Exchange, and I am delighted to be joining the Company as Chief Executive Officer. It is very exciting to be working with the team and to be using my experience to lead Aamal through the next stage in its journey, delivering value to the business and all its stakeholders.
These are exciting times for Qatar. The economy is expected to be the fastest growing in the GCC region in 2023 and 2024, according to the World Bank’s economic reports, with GDP expected to grow by 4.9% in 2022, followed by 4.5% and 4.4% respectively in 2023 and 2024. I am sure that the strong underlying fundamentals that our economy enjoys will present Aamal with a number of strategic opportunities to leverage in the coming years.
It gives me great pride to lead Aamal, one of the first Qatari listed companies to embrace the Qatar Stock Exchange’s guidance on Environmental, Social and Governance (ESG) Reporting, setting an example to other listed companies. Aamal’s sustainability framework helps it to maintain the highest standards of business ethics and transparency, empowering our workforce and protecting the environment, and we look forward to further serving our communities.
As ever, our employees are Aamal’s most important asset, and their wellbeing and development are a key focus for management. We remain committed to making Aamal an attractive place to work and an employer of choice in the region, with equal and exciting opportunities for all our employees. We are also working on a number of initiatives to attract more local Qatari employees to the private sector and to Aamal Company specifically.
Aamal has a resilient and diversified business model which positions us well for new opportunities in the medium term - for example, the expansion of North Field and the expansion of land and sea transportation infrastructure - all of which we are excited to play an important role in delivering. In line with our business model, we have also identified several new opportunities to develop additional revenue streams, with an emphasis on innovation.
The outlook for Aamal is very positive and we look forward to continuing to deliver sustainable, resilient growth for all our stakeholders.
Rashid Bin Ali Al Mansoori
CEO