Qatar is leveraging its resources to become a knowledge-based, diversified economy fuelled by a dynamic private sector. As such, the country is investing in strategic areas such as agriculture, services, and research and development to further move the economy away from its dependence on hydrocarbons and attract greater foreign direct investment.
Qatar’s performance during the Covid-19 pandemic built on the strength of its response to the economic blockade imposed in mid-2017. The economy has been supported by the North Field expansion project, which will increase liquefied natural gas (LNG) production from 77m tonnes per year in 2018 to 110m tonnes per year in 2027, when the project is set to be completed. The development will further cement the country as a leader in the global energy market and provide funds for projects elsewhere.
With manufacturing activity tied closely to hydrocarbons, the sector is likely to see a strong return to growth as demand increases with the global economic revival. At the same time, the authorities are expecting a rebound in tourism, transport and hospitality, especially during the weeks of the 2022 FIFA World Cup, which will take place in November and December of that year. Qatar is also continuing to roll out labour reforms and implementing environmental, social and governance criteria across sectors.
Table of Contents
- Country Profile
- Economy
- Trade and Investment
- Banking
- Islamic Financial Services
- Insurance
- Energy and Utilities
- Industry
