Economy
From The Report: Qatar 2024
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Propelled by a major infrastructure development drive in preparation for the 2022 FIFA World Cup, and a broad loosening of investment and business regulations, Qatar’s economy has undergone a significant expansion in recent years. The country’s immense natural gas reserves are being further tapped and its production capacity expanded, while related revenue is being pumped into diversifying the economy – with the long-term goal of reducing the country’s reliance on its hydrocarbons sector, and stimulating multi-sector growth and job creation. Social development is another core focus, with high levels of government funding and private investment being placed in the health care and education sectors.

This chapter contains interviews with Sheikh Mohammed bin Hamad bin Qassim Al Thani, Minister of Commerce and Industry; Sheikh Khalifa bin Jassim bin Mohammed Al Thani, Chairman of the Qatar Chamber; and Saleh bin Mohammed Al Nabit, President of the Planning and Statistics Authority.

Articles from this Chapter

Overview

Dynamic advancement: Strong fundamentals are propelling diversification and human, social, economic and environmental development
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Propelled by a major infrastructure development drive in preparation for the 2022 FIFA World Cup, and a broad-based loosening of investment and business regulations, Qatar’s economy has undergone significant expansion in recent years. The country’s immense natural gas reserves are being further tapped and production capacity expanded, while related revenue is being pumped into the diversification of the economy, with the long-term goal of reducing the country’s reliance on its hydrocarbons…

Interview

Investment destination: Sheikh Mohammed bin Hamad bin Qassim Al Thani, Minister of Commerce and Industry (MoCI), on economic diversification efforts and trade support strategies
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Interview: Sheikh Mohammed bin Hamad bin Qassim Al Thani In what ways is the non-hydrocarbons economy expected to evolve in the short term? SHEIKH MOHAMMED BIN HAMAD BIN QASSIM AL THANI: Qatar anticipates substantial growth and diversification in its non-hydrocarbons economy, aligning closely with the objectives laid out in the Third National Development Strategy (NDS-3). This blueprint aims to position Qatar as a top-10 destination for investors and businesses, foster specialised economic clusters…

Analysis

Forward focus: A new national development plan outlines key challenges and sets its sights on economic sustainability
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Qatar’s Third National Development Strategy ( NDS-3), spanning the 2024-30 period, builds on previous medium-term strategies to accelerate progress towards Qatar National Vision 2030 (QNV). Shaped by this long-term vision, the NDS-3 provides a framework for achieving sustainable economic growth. In comparison to the NDS-1, for the 2011–16 period, and the NDS-2, for the 2018–22 period, the NDS-3 places a stronger emphasis on the need for a more transformative approach to policy reform and development…

Analysis

The competitive edge: Harnessing artificial intelligence technology to bolster economic growth and strengthen sustainability
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As part of ongoing efforts to diversify their economies and build a platform for sustainable future growth, MENA countries are increasingly turning to artificial intelligence (AI). A slew of recent investment and initiatives – primarily in academia and the government, but also in the private sector – has reinvigorated interest from industry leaders around the globe in the potential for AI to strengthen the efficiency and sustainability of MENA economies. AI could bring about an additional $320bn…

Interview

Digital transformation: Sheikh Khalifa bin Jassim bin Mohammed Al Thani, Chairman, Qatar Chamber, on the role economic diversification efforts play in stimulating growth and boosting investment
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Interview: Sheikh Khalifa bin Jassim bin Mohammed Al Thani Which non-oil sectors offer key potential to drive economic growth in the short to medium term? SHEIKH KHALIFA BIN JASSIM BIN MOHAMMED AL THANI: Qatar has seen robust growth in non-oil sectors, driven by Qatar National Vision 2030 (QNV). The non-oil sector has outpaced the oil sector in recent years, and we are confident that local, regional and global investment in non-oil activities will propel further economic expansion. Sectors fostering…

Interview

Funding destination: Saleh bin Mohammed Al Nabit, President, Planning and Statistics Authority, on leveraging Qatar’s investment potential
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Interview:Saleh bin Mohammed Al Nabit Which UN Sustainable Development Goals (SDGs) can help accelerate Qatar’s socio-economic growth? SALEH BIN MOHAMMED AL NABIT: Integrating the UN SDGs into Qatar’s Third National Development Strategy 2024-30 represents a strategic investment in tackling challenges, while promoting sustainable economic growth, social equity and environmental protections. SDGs 7 and 9 align with Qatar’s focus on sustainable energy and innovation, enhancing its infrastructure…

Analysis

Greenlighting bonds: Markets around the globe are increasingly issuing green and social bonds in an effort to support sustainable growth
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Alongside significant political efforts to speed up the energy transition, green finance has been a key tool in financing growth, as governments, international institutions and lenders alike seek to support the shift towards renewables. The issuance of green bonds – financial instruments that fund environmentally sustainable projects – hit a new record of $596.3bn in 2021, according to the Climate Bonds Initiative (CBI). While this figured ticked down to $443.7bn in 2022, the UK-based organisation…