Cover of The Report: Qatar 2015

The Report: Qatar 2015

Hydrocarbons revenues, specifically from liquefied natural gas, still form the bulk of Qatar’s national income. However, as the country moves forward with Qatar National Vision 2030 (QNV 2030), the government is increasingly seeking to diversify the economy away from hydrocarbons while investing in renewable solutions to meet the energy demands of the future.

As for all its neighbours, the recent drop in energy prices is a concern for Qatar. The state is home to the largest non-associated natural gas field in the world and had proven oil reserves of 25.1bn barrels in 2014. However, Qatar’s large energy and financial reserves mean the country should be well positioned to weather the storm. QNV 2030 has outlined a vast infrastructure expansion programme, with spending in the construction sector set to reach $200bn as the government invests in major transport, retail and real estate builds. Preparations for the 2022 FIFA World Cup are also contributing to major growth. Elsewhere, the Qatar Stock Exchange will be looking to attract further international investment following its upgrade to emerging market status in the summer of 2014, with the QSE finishing that year as the fastest-growing exchange in the region as a result. Heavy and medium industry, meanwhile, are expected to remain major pillars of the economy moving forward even as the economy works to shift towards knowledge-based industries, with lighter, high-tech manufacturing now receiving a boost.

 

OBG & Qatar