Qatar

New regulations introduced by the Qatar Central Bank (QCB) in mid-June will curb local banks’ investment options, potentially making sovereign bonds more appealing at the expense of some private sector options. The move is taking place as the government prepares to set its infrastructure development programme into overdrive.

With a strong existing market from business visitors, and a growing status among tourists from elsewhere in the Gulf, Qatar’s authorities are now focusing on developing a broader leisure industry.

The world’s largest exporter of liquefied natural gas (LNG) is spreading its wings into energy ventures far from the vast reserves on its own doorstep. Qatar is investing in shale-related projects in North America and elsewhere to help maintain its position as one of the top players in the global gas market.

With the 2022 FIFA World Cup less than a decade away, Qatar’s government is poised to up the tempo of its infrastructure and development programme after raising expenditures on April 1 for the new financial year. Spending has been increased by 18% in the budget for fiscal year 2013/14, paving the way for the state’s infrastructure investment programme to gather yet further momentum.

A move to bring the marketing and sales side of Qatar’s chemical, fertiliser and polymer operations under one umbrella is an indication of the country’s plans to build a larger and more vibrant downstream petrochemicals sector, which is expected to see increased revenues from plans to more than double production by 2020.

The Qatar Central Bank’s (QCB) February takeover of responsibility for licensing and supervising insurance companies, reinsurance companies and insurance intermediaries, part of an effort to streamline doing business in the country, should enhance regulation and level the playing field for insurance companies.