Interview: Sheikh Mohammed bin Faisal Al Thani, Vice-Chairman, Al Faisal Holding, on how the tourism, real estate and education sectors are contributing to long-term economic strategies
How do you see economic diversification evolving over the next decade, particularly in fostering innovation and building resilient sectors beyond energy?
SHEIKH MOHAMMED BIN FAISAL AL THANI: Qatar’s drive for economic diversification is accelerating, with a clear pivot towards innovation and resilient, non-energy sectors. The Third National Development Strategy (NDS-3) embodies this vision, aiming to build a knowledge-based economy. Key initiatives include significant investment in research and development. The Qatar Investment Authority is also nurturing a vibrant start-up ecosystem, attracting leading global venture capital firms to Doha. Priority sectors are supported by cross-cutting enablers like digital transformation and sustainability.
Which strategies can the tourism and hospitality sector adopt to enhance resilience and maintain competitive growth in the region?
SHEIKH MOHAMMED: Qatar’s tourism and hospitality sector is implementing a multifaceted strategy to encourage adaptability and sustain competitive growth. Anchored in Qatar National Vision 2030, the national tourism strategy sets ambitious goals. Key initiatives include showcasing Qatar’s rich cultural heritage through museums, alongside major investment in flagship attractions like the Simaisma Project, designed to rival top global theme parks. Qatar is also positioning itself as a centre for international sports events and business conferences, leveraging its infrastructure.
In what ways is the real estate market adapting to changing demographics and technological trends?
SHEIKH MOHAMMED: The sector is evolving to meet new demographic demands and technology-driven trends. Smart cities like Lusail are vital to this transition, integrating sustainable living and advanced infrastructure. Regulatory reforms are enhancing transparency and investor confidence. Expanded property ownership rights for foreign nationals and the digitalisation of real estate transactions are making the market more accessible and aligned with global standards.
To what extent are sustainability and green growth concerns shaping long-term economic strategies?
SHEIKH MOHAMMED: Sustainability is a core pillar of Qatar’s long-term strategy. The National Renewable Energy Strategy, launched in April 2024, aims to diversify energy sources – particularly through solar power for domestic use. High-potential sectors include clean energy, with investment in carbon capture and green hydrogen; logistics, through automation and emissions reduction; and agriculture, targeting food self-sufficiency. These are reinforced by broader efforts in digital transformation and sustainable infrastructure.
By what means can private investment play a role in enhancing the education sector?
SHEIKH MOHAMMED: Private investment is vital to modernising education in line with the needs of a digital economy. Public-private partnerships are shaping curricula to meet labour market demands, advancing science, technology, engineering and maths education, and expanding vocational training. Training initiatives and collaboration with global institutions are fostering innovation and entrepreneurship among youth, helping build a future-ready workforce.
Which factors are critical for improving Qatar’s attractiveness to foreign investors?
SHEIKH MOHAMMED: Qatar offers a unique opportunity for investors. Enablers include laws permitting 100% foreign ownership in most sectors, tax incentives in free zones and advanced infrastructure. Coupled with political and economic stability, Qatar’s location positions it as a regional gateway. Ongoing legal reforms and business-friendly policies underscore the government’s commitment to enhancing the investment ecosystem and expanding opportunities within the wider region.
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