Economy
From The Report: Qatar 2014
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With sustained, long-term economic growth, the highest per capita income in the world, a stable and well-capitalised banking sector, a sovereign wealth fund that is of true global significance and one of the largest reserves of natural gas just offshore, Qatar today has many advantages. It is clear that Qatar is in a strong position from which to continue its robust economic performance, and the years ahead will see a vast construction drive, in line with the principles of Qatar National Vision 2030 and catalysed by preparations for the 2022 FIFA World Cup. Qatar holds potential for investors, both domestic and international, as the country heads towards a much greater global presence in the years ahead.
This chapter contains interviews with Sheikh Ahmed bin Jassim bin Mohamed Al Thani, Minister of Economy and Commerce; Ali Shareef Al Emadi, Minister of Finance; Saleh bin Mohamed Al Nabit, Minister of Development Planning & Statistics; Saad Ibrahim Al Muhannadi, President, Qatar Foundation; Chung Hongwon, Korean Prime Minister; and Fumio Kishida, Japanese Minister for Foreign Affairs.

Articles from this Chapter

Overview

Pillars of strength: Moving forward with long-term plans for development and diversification
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With sustained, long-term economic growth, the highest per capita income in the world and one of the largest reserves of natural gas just offshore, Qatar today has many advantages. Add in a stable and well-capitalised banking sector and a sovereign wealth fund that is of true global significance, and it is clear that Qatar is in a strong position from which to continue its robust economic performance. The years ahead are also set to see one of the world’s largest construction drives in the country,…

Interview

OBG talks to Sheikh Ahmed bin Jassim bin Mohamed Al Thani, Minister of Economy and Commerce
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Interview:Sheikh Ahmed bin Jassim bin Mohamed Al Thani How are investments in the domestic market being supplemented to fuel economic growth? SHEIKH AHMED BIN JASSIM BIN MOHAMED AL THANI: The Ministry of Economy and Commerce (MEC) is primarily focused on regulation, the creation of a competitive economy and the promotion of economic diversification policies. The economy is still growing and planned expenditures on infrastructure will provide ample opportunity for expansion in the foreseeable…

Interview

OBG talks to Ali Shareef Al Emadi, Minister of Finance
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Interview:Ali Shareef Al Emadi How feasible would it be for the government to implement a medium- to long-term budget as opposed to the traditional annual budget? AL SHAREEF AL EMADI: Qatar National Vision 2030 outlined the state’s long-term goals, while the National Development Strategy 2011-16 has provided guidance as to the implementation of this vision, as has the work of the Qatar 2022 Supreme Committee for Delivery and Legacy in preparation for the 2022 FIFA World Cup. The Ministry…

Analysis

Big spender: Government contracts lead the way in a surge of fresh investment
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The years ahead are set to see major new investment in a range projects in Qatar – some of them already under way, others entirely new. The built landscape of the country is due for a number of significant changes as the country gears up for the 2022 FIFA World Cup and beyond. Fiscal Expansion This programme of spending, largely spurred by government contracts, will also have a significant effect on the country’s macroeconomic balances. Fiscal policy expansion will boost the money supply, soak…

Interview

OBG talks to Saleh bin Mohamed Al Nabit, Minister of Development Planning and Statistics
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Interview:Saleh bin Mohamed Al Nabit How is the ministry prioritising development of the pillars of Qatar National Vision 2030 (QNV 2030)? SALEH BIN MOHAMED AL NABIT: In December 2013, the ministry published a mid-term review of the National Development Strategy 2011-16 (NDS), which contains numerous initiatives in the areas of social, human, environmental and economic development designed to help our country progress towards QNV 2030. Together with key stakeholders, we are taking stock of the strategy’s progress, relevance and applicability. The review helps prioritise NDS activities over the remaining three years. What are the main…

Interview

Harnessing talent: OBG talks to Saad Ibrahim Al Muhannadi, President, Qatar Foundation (QF)
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Interview:Saad Ibrahim Al Muhannadi How has the investment and growth strategy of QF changed under the state’s new leadership? SAAD IBRAHIM AL MUHANNADI: From the very beginning, QF’s investment and growth strategy has been developed in accordance with the long-term vision and aspirations of the country’s leadership. We have the mutual goal and collective mission of transforming Qatar into a knowledge-based economy by 2030, as well as to facilitate sustainable development for many generations…

Analysis

Making a splash: Significant overseas investments have been drawing attention
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Recent years have seen Qatar become much more widely known internationally as an important global investor, with stakes in businesses that stretch from Harrods and Barclays to Volkswagen and Tiffany & Co. The years ahead are likely to see this role continue to expand, as Qatari businesses and agencies look for destinations overseas to place their growing wealth, while the government works to expand its soft power on the global stage. Good Returns The main institution making these overseas forays…

Analysis

Eye on efficiency: A strong focus on improving the business environment
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A key part of Qatar’s National Development Strategy 2011-16 (NDS 2011-16) is the development of better business regulation and efficiency. This is seen as being important in increasing the country’s competitiveness, attracting foreign investors and developing a stronger local private sector. A range of measures are therefore being implemented to enhance regulation and efficiency, with an eye to a dashboard of global competitiveness indicators, from the World Bank’s (WB) “Doing Business”…

Interview

Delivering results: OBG talks to Chung Hongwon, Korean Prime Minister
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Interview:Chung Hongwon What factors are responsible for the success of Korean companies in Qatar’s construction industry? CHUNG HONGWON: Korean companies are renowned for their ability to deliver on difficult or challenging projects, including those in the oil and gas industry. Sixteen major Korean construction companies have a presence in Qatar and many have already been awarded major projects, while others are participating in the tendering process. Korean companies are currently involved…

Interview

From strength to strength: OBG talks to Fumio Kishida, Japanese Minister for Foreign Affairs
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Interview: Fumio Kishida What do you see as the main factors that led to the deep-rooted relationship between Japan and Qatar? FUMIO KISHIDA: Japan and Qatar have become close partners primarily through imports of liquefied natural gas (LNG) and crude oil in the four decades following Qatar’s independence in 1971. Since then, our relations have continued to go from strength to strength. For example, our trade volume has increased almost seven-fold in the past 10 years from $5.6bn in 2002 to $37.5bn…

Analysis

An enterprising approach: Efforts to build a more private sector-oriented culture are continuing
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In both Qatar National Vision 2030 (QNV 2030) and the National Development Strategy 2011-16 (NDS 2011-16), high priority is given to the development of small and medium-sized enterprises (SMEs). Such businesses are likely to be a focal point for policy initiatives as the country tries to diversify economic activity and build a more entrepreneurial, private sector-oriented culture. SMEs are seen as important in creating long-term economic stability and sustainability, requiring an effort to support…