The potential for the industrial sector to play a major role in Qatar’s economic growth was officially recognised in 2008 with the publication of the country’s plan for long-term development, Qatar National Vision 2030. Since then Qatar has taken a number of steps to increase the incentives available to foreign investors interested in supporting the country’s industry. Boosted by a new project...
Qatar Industry
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Its relatively small population and status as the world’s biggest gas exporter have helped Qatar become the richest country globally in terms of GDP per capita, which stood at $72,700 at current prices in 2019, according to IMF estimates. In recent years, however, the nation has faced strong economic headwinds from a drop in global energy prices to a diplomatic blockade.
Central to Qatar National Vision 2030, the country’s long-term development plan, is creating a competitive and diversified economy. The industrial sector plays a key role in this, broadening the scope of private sector activity, encouraging the shift to higher value-added activities and creating jobs in an increasingly knowledge and innovation-based economy. Recent times have seen the impact...
Driven by large energy-intensive developments and a rapidly growing population, demand for electricity and water has surged in Qatar over the past decade. Peak power demand on the country’s networks has more than doubled since 2006, while water consumption has also increased in tandem with the country’s development. Base case assumptions issued by government regulators and procurement agencies...
2017 proved a turbulent year for Qatar, dominated by the diplomatic rift that emerged between the country and several other regional states in June 2017. However, Qatar has adapted quickly, with many in the local business community confident about the future.
Though chiefly known for its success in the oil and gas sector, Qatar is also home to a number of non-hydrocarbons industries that are playing an increasingly important role in the economy, particularly in light of the government’s broader plans for greater diversification. According to the Ministry of Development Planning and Statistics (MDPS), the non-hydrocarbon sector accounted for all GDP...
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