The Report: Qatar 2014

Download or read book The Report: Qatar 2014 written by Oxford Business Group and published by Oxford Business Group. This book was released on 2014-04-15 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt: 2013 saw the transition of power from the former Emir, Sheikh Hamad bin Khalifa Al Thani, to Sheikh Tamim bin Hamad Al Thani, his fourth son and second son with Sheikha Moza bint Nasser, a move unprecedented elsewhere in the Gulf but not unexpected in Qatar. With sustained, long-term economic growth, the highest per capita income in the world, a stable and well-capitalised banking sector, a sovereign wealth fund that is of true global significance and one of the largest reserves of natural gas just offshore, Qatar today has many advantages. It is clear that the country is in a strong position from which to continue its robust economic performance, and the years ahead will see a vast construction drive, in line with the principles of Qatar National Vision 2030 and catalysed by preparations for the 2022 FIFA World Cup. Oil and gas accounted for around 51.5% of Qatar’s economic output in 2013, while developing downstream facilities that add value to energy by-products, for example, has helped build a portfolio of petrochemicals, chemicals and fertiliser companies and looks set to see Qatar’s economic strength continue. With more than $222bn of projects in the pipeline, the construction sector’s growth has been forecast at 15% for 2014, while spending on infrastructure is set to reach $150bn in the run-up to the 2022 FIFA World Cup. Against this backdrop, Qatar looks set to continue offering a wide variety of opportunities for foreign investors.