It has been two years since three Gulf countries and Egypt placed an economic blockade on Qatar, to which Qatar responded by implementing a series of reforms, seeking out new trade partners and amplifying economic diversification efforts. How effective have these measures proved?
Mirroring a trend seen across the Gulf, two lenders in Qatar announced the country’s first bank merger in a move officials say will support economic growth and the development of the financial and private sectors.
A series of initiatives designed to promote entrepreneurship and incubate start-ups in Qatar are strengthening the country’s research, development and innovation (RDI) ecosystem.
Moving to increase its air transport and logistics capacity, Qatar has directed new funds towards the upgrade of Doha’s Hamad International Airport (HIA), while Qatar Airways, the nation’s flag carrier, has also forged new passenger and cargo links.
Strong gains by the non-oil and gas sector underpinned solid growth in Qatar’s economy in 2018, laying the foundations for further expansion as the country works to mitigate the fallout from the regional blockade and step up efforts to diversify its economy.
Increasing efforts to diversify its economy and realign its trade relationships, Qatar is building new links and expanding ties with existing partners.
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