Overview

Leading role: The government continues efforts to make the country a centre for IFS
OBG
plus

The Islamic finance services (IFS) sector in Qatar is one of the most vibrant in the region and incorporates a rapidly expanding sharia-compliant banking segment, an array of financing companies, an insurance market that is well positioned to capitalise on the potential of an underserved market, and an increasingly deep Islamic investment component. Recent regulatory changes suggest that the government’s…

Overview

Demand and opportunity: Moves towards conservation and reuse of limited resources
OBG
plus

An efficient and reliable supply of water and electricity feeds Qatar’s booming economy, while the country’s oil and gas resources finance its tremendous growth. The nation consumes almost twice as much power per capita as the average high-income OECD country. Only Kuwait consumes more within the GCC, with countries like Bahrain consuming less than two-thirds the amount. Qatar produces a total…

Overview

Top performer: Investments in upstream and downstream capacity are set to ensure future growth
OBG
plus

Powering the country’s thriving economy, the energy sector has made Qatar one of the richest countries in the world with a gross national income per capita of more than $90,000, according to the World Bank. The country invested heavily in developing its natural gas reserves and building infrastructure to export leading quantities of liquefied natural gas (LNG) in the early 1990s, propelling it to…

Overview

Broadening the base: Adding value to production is a priority as diversification continues
OBG
plus

The economic diversification strategy Qatar has opted for rests on reinvesting the income from hydrocarbons sales. Developing a base for industry and manufacturing has been a pillar of this, with accelerated efforts to grow the sector taking place over the past decade. Building on Qatar’s comparative advantages, the government has focused on developing industrial sectors that support or leverage…

Overview

Gearing up: Continued investments in marine, aviation, road and rail ahead of 2022
OBG
plus

In the past decade, countries across the GCC have been initiating comprehensive infrastructure overhauls, constructing airports, seaports, highways and roads in rapid succession. In 2013 alone, the six countries making up the GCC set aside a total of $350bn for transport projects – $45bn in Qatar alone, Doha Bank’s group CEO, R Seetharaman, told delegates at Doha Bank’s Real Estate, Infrastructure…

Overview

A flurry of activity: Building infrastructure for more diversified growth
OBG
plus

The state’s economic development strategy has until recently focused on building the infrastructure required to maximise production in the energy sector. As production levels have stabilised, and with most major energy-related investments either completed or on hold until the moratorium on new development at the North Field is lifted, the government has the opportunity to focus on putting in place…

Overview

Growth drivers: Strong fundamentals support further expansion
OBG
plus

With data from the Qatar Central Bank (QCB) indicating that real estate prices rose by 108% between July 2009 and December 2013, the local market is showing signs of steady recovery from the drop in prices caused by the onset of the global financial crisis in 2008. The rising prices point to growing confidence in the market and strong supporting fundamentals. Much of this growth can be attributed to…

Overview

Byte out of crime: The government, private sector and research institutions join forces to stem the rise of cyber threats
OBG
plus

Qatari authorities have for years touted the importance of information technology (IT) as a driver of growth in knowledge-based sectors. They see IT as foundational to the country’s economic future, able not only to grow as an industry it its own right but to drive growth in other brain-heavy sectors like health, government and education, and boost efficiency by leaps and bounds. The explosive growth…

Overview

Gathering speed: New technologies are driving value-added services, data consumption and new revenue streams
OBG
plus

A third of a century after Qatar launched its first public phone service in 1953 with a modest 150 lines, Law No. 13 created a state-owned company to run the sector. When Qatar Telecom (Qtel), now known as Ooredoo, moved into mobile services in 1994, its Global System for Mobile Communications (GSM) was among the first in the Middle East. Only after the ascent of the Father Emir, Sheikh Hamad bin Khalifa…

Overview

Focus on research: A multitude of institutes support innovation in select fields
OBG
plus

The Qatar National Research Strategy (QNRS) 2012 details the nation’s vision of becoming a global centre for research and development (R&D), excellence and innovation. This forms part of overall plans to develop human capital and institutions, build and maintain a diversified and competitive economy, improve the health and social well-being of Qataris, support the security and culture of Qatar,…