QATAR is expected to witness investments to the tune of about $225 billion in the next five years.
Of the total investment, the Qatari government would provide 42 percent, or $95 billion. Sheikh Hamad bin Faisal bin Thani al Thani, chairman and managing director of al khaliji, said this while addressing the Qatar Investor Window 2011 on Monday.
Citing figures from the National Development Strategy 2011-2016, Sheikh Hamad, who is also a member of the Qatari Businessmen Association, said that roughly half or $125 billion of this investment would be in the non-oil and gas sector.
Highlighting the business opportunities, and the vast untapped investment potential in the country, Sheikh Hamad said, “Qatar is an outstanding market for investment as it is the world’s fastest growing economy. The GDP of Qatar has been growing at a rapid rate of 16 percent for the last four years. The country is expected to post a GDP growth rate of 21 percent in 2011 and 10 percent in 2012.” The QBA member further noted that the overall economy of the country would reach $197 billion in 2012.
“Given the rapid growth in the region and Qatar hosting the World Cup in 2022, Qatar Investor Window 2011 provides a valuable platform and opportunity to learn more about this emerging market,” he said.
Commenting on Qatar’s credit credibility, Sheikh Hamad said Qatar currently has the highest credit rating in the GCC together with Kuwait. “It is one of the very few global sovereigns that received a ratings upgrade in 2010,” he added.
“Qatar has already entered new industries that leverage its comparative advantages of inexpensive hydrocarbon feedstock and cheap energy inputs,” he said.
He said the construction sector grew at a remarkable rate of 46 percent from 2005-2008, while transport, storage and communications are the fastest growing services sector with a forecast growth of 11 percent 2011 and 7 percent in 2012. He also said that manufacturing sector in Qatar is expected to grow 18 percent in 2011.
Talking about government’s initiatives to encourage private sector investment in the country, Sheikh Hamad said, “The government has built modern infrastructures, amended laws and legislation and offers generous incentives to both local and foreign investors. As a result of these developmental efforts, the economy is undergoing structural changes and offers considerable investment opportunities in the production and infrastructure sectors.”