The International Chamber of Commerce Qatar concluded a virtual symposium entitled: “Dealing with the Geopolitical Crisis: Legal Aspects, Governance, Environmental, Social and Institutional Compliance Priorities and Risk Management for the Private Sector in Qatar,” with the participation of more than 200 participants from the business and professional community.
The symposium, which was held over two days via video conference, according to a statement by Qatar Chamber today, witnessed wide participation from representatives of banks, law firms, embassies, real estate and construction companies, and consulting companies, in addition to a number of experts in the legal and governance fields, senior executives, board members, and risk management specialists.
In her opening speech, Her Excellency Sheikha Tamader Al Thani, Secretary-General of the International Chamber of Commerce Qatar, stressed the importance of holding these discussions in light of the rapid geopolitical developments taking place in the region, and the challenges they pose to the private sector, especially with regard to legal complexities, regulatory requirements, environmental, social and institutional governance considerations, in addition to operational risks.
She added that the current geopolitical environment requires companies to review their contracts and cross-border legal obligations, while strengthening compliance, governance and risk management frameworks, noting that environmental, social and corporate governance responsibilities, in addition to business continuity planning, are gaining increasing importance in times of tension to maintain stability and flexibility.
Speaking during the symposium were Mashael Al Sulaiti, founder and president of Mashael Al Sulaiti Law Firm, and Elena Athwal, founder and CEO of ICELIS Global.
The speakers focused on the most prominent legal, regulatory and operational challenges facing companies in Qatar and the Gulf region, stressing the importance of reviewing contractual provisions, especially force majeure provisions and fundamental negative change, to clearly understand the legal positions and available options.
They also stressed the need to enhance the role of boards of directors in effective oversight, ensuring compliance, and maintaining transparency in disclosure practices, noting the importance of moving from awareness of risks to managing them systematically within clear governance frameworks.
Speakers stressed the importance of proactive risk assessment, careful contractual review, enhancing environmental, social and corporate governance (ESG) practices, and developing internal governance systems to ensure companies’ ability to adapt and comply in an environment characterized by uncertainty.
They also reviewed the most prominent challenges affecting the business environment, including global trade and supply chain disruptions, high counterparty and sovereign risks, and rapid regulatory changes.
For her part, Elena Athwal emphasized that ESG practices during crises are not limited to preparing reports, but rather represent an important tool for documenting the evidence necessary to support legal positions.
At the conclusion of the symposium, participants stressed the importance of continuous monitoring of regulatory developments, maintaining effective communication channels with regulatory authorities, in addition to re-evaluating insurance coverage and addressing any potential gaps, especially in high-risk or conflict-affected environments.