Economy
From The Report: Qatar 2020
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The Qatari government has created a clear roadmap with Qatar National Vision 2030, which focuses on economic diversification and growth with a retention of the country’s key cultural values at its heart. Although much of the focus in recent times has been on infrastructure preparations for the 2022 FIFA World Cup, it is the period following the tournament, when new liquefied natural gas and petrochemicals cargo starts to be shipped, that will have a more significant lasting impact on Qatar’s broader development. This chapter contains interviews with Ali bin Ahmed Al Kuwari, Minister of Commerce and Industry; Sheikh Khalifa bin Jassim bin Mohammed Al Thani, Chairman, Qatar Chamber; Ahmad Al Sayed, Minister of State; and Chairman, Qatar Free Zones Authority; and Abdulaziz bin Nasser Al Khalifa, CEO, Qatar Development Bank.

Articles from this Chapter

Overview

Steady course: Strong fundamentals and a robust diversification strategy support continued economic development
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Qatari authorities are forging ahead with growth plans by emphasising economic diversification in line with Qatar National Vision 2030, while also kick-starting the process of increasing the output of liquefied natural gas (LNG) by roughly two-thirds. In parallel with the construction of six new LNG trains, the country is also in the process of building the Middle East’s largest single-site ethane cracker, which is set to boost the output capacity of a greater range of petrochemical products.…

Interview

Game plan: Ali bin Ahmed Al Kuwari, Minister of Commerce and Industry, on transformative initiatives to bolster the non-oil economy
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Interview:Ali bin Ahmed Al Kuwari Where can policy work to capture the economic benefits of disruptive technology and foster the emergence of an entrepreneurial environment? ALI BIN AHMED AL KUWARI: In recent years, Qatar has placed special emphasis on the development of the industrial sector within the framework of its integrated efforts to diversify the national economy and bolster innovation. Qatar is reviewing its policies and developing laws to protect intellectual property rights and…

Interview

Staying on course: Sheikh Khalifa bin Jassim bin Mohammed Al Thani, Chairman, Qatar Chamber, on fostering private sector participation
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Interview:Sheikh Khalifa bin Jassim bin Mohammed Al Thani How is Qatar enhancing its business climate to attract new foreign investors? SHEIKH KHALIFA BIN JASSIM BIN MOHAMMED AL THANI: Every country, whether developed or developing, is trying to attract as much foreign direct investment (FDI) as possible to grow its economy. Qatar has showcased itself as an ideal investment destination with a strong and vibrant economy. Several global business indices and rankings agencies have recognised…

Analysis

Budgeting for progress: The authorities work to keep the fiscal balance in surplus while also investing in health and education
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In recent years Qatar’s leaders have faced some difficult choices in terms of public spending as a result of the continued downturn in oil and gas prices since 2014, followed by the economic blockade by neighbouring countries. Despite facing declining revenue, public spending continued on infrastructure mega-projects initiated for the 2022 FIFA World Cup as well as on schemes that have a wider social significance, such as new schools, health centres, university buildings and housing developments…

Interview

Centres of innovation: Ahmad Al Sayed, Minister of State; and Chairman, Qatar Free Zones Authority (QFZA), on attracting local and international investors to the country’s free zones
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Interview:Ahmad Al Sayed Given the level of regional competition, how can Qatar set itself apart when it comes to attracting local and international investors to its free zones? AHMAD AL SAYED: Qatar and its free zones offer new infrastructure in a country that is rapidly diversifying and expanding its relationships with leading economies around the world. We offer a great access point to dynamic regional markets from Pakistan to Turkey, and East Africa to Europe. Our free zones are backed…

Analysis

Local focus: Improving access to finance for smaller companies can feed into broader economic growth
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Following Qatar’s first delivery of liquefied natural gas in 1996, the state created Qatar Development Bank (QDB) in 1997, to nurture, encourage and support small businesses as well as to help allocate land to Qatari citizens. The QDB plays a vital role in supporting small and medium-sized enterprises (SMEs) in Qatar, underscoring the government’s commitment to the country’s smaller players, which will be vital in developing a more diversified economy. However, according to IMF estimates,…

Interview

Fostering growth: Abdulaziz bin Nasser Al Khalifa, CEO, Qatar Development Bank (QDB), on building an enabling ecosystem for local businesses
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Interview:Abdulaziz bin Nasser Al Khalifa In what ways is Qatar’s entrepreneurial ecosystem receiving institutional support? ABDULAZIZ BIN NASSER AL KHALIFA: The Qatari entrepreneurial ecosystem has been evolving over the years, and thanks to a number of government reforms, we are becoming an environment that will help entrepreneurs excel and unlock their potential. QDB has embarked on a mission to enlarge and strengthen the private sector to contribute to the diversification of the economy.…

Analysis

Advantageous clusters: Foreign and domestic companies are increasingly leveraging the country’s free zones and industrial parks
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Qatar National Vision 2030 recognises the need to diversify the economy by enabling a flourishing private sector and supporting entrepreneurs, who need seed capital and land for factories, offices and warehouses in order to grow. In 2ence011 the state created Manateq, tasking the agency with managing special economic zones (SEZs) and encouraging businesses and small and medium-sized enterprises (SMEs) to locate there. Land Solutions Manateq oversees a number of industrial parks, including…