Economic Policy

Qatar’s Economy is one of the region’s strongest economies and one of the world’s most promising economies. Qatar maintained balanced growth rates despite global challenges; Qatar’s GDP grew by 2.5% in the first quarter of 2017 compared to the first quarter of 2016. Over the past few years, Qatar has succeeded in reinforcing its economic standing on the world map, in accordance with the policies adopted by HH the Amir, and in line with the Qatar National Vision 2030, which aims to lay the foundations for a diversified and competitive knowledge-based economy.

“Qatar National Vision 2030 aims at transforming Qatar into an advanced country, capable of sustaining its own development and providing for a high standard of living for all of its people for generations to come. To this end, it seeks to develop a diversified economy that gradually reduces its dependence on hydrocarbon industries, and turns towards investing in a knowledge-based economy, in which the role of the private sector is enhanced”

His Highness Sheikh Tamim bin Hamad Al Thani, Amir of Qatar, November 2015

Qatar recognises the importance of balancing its economic policies which aim to create a diversified national economy while strengthening its natural resources and wealth. As such, Qatar succeeded in adopting an integrationist approach which made the contributions of the non-hydrocarbon sector to the GDP reach more than 70% in 2016. In addition, Qatar continued to focus on the energy sector as an important source of national revenue by working towards increasing natural gas production levels to reach 30%, which reinforces Qatar’s position as the biggest producer and exporter of LNG in the world.

“Qatar is going through an historic era in its quest to achieve sustainable development by implementing the strategies and programs of Qatar National Vision 2030, which aim to reduce dependence on oil and gas, achieve economic diversity and transform Qatar’s economy to a knowledge-based economy. Qatar has already achieved great milestones in this regard”

His Excellency Sheikh Abdullah bin Nasser bin Khalifa Al-Thani, Prime Minister and Minister of Interior, March 2017

These systematic economic policies have contributed to supporting all of the state’s sectors so they become an active partner in reinforcing and strengthening the national economy and enhancing the investors’ trust in it.

In this context, Qatar provides a promising investment environment in the most important sectors for the national economy and has accompanied it with an administrative and legislative system that motivates business. This environment is characterised by:

1. Creating a Legislative Framework to develop business and attract investment

Qatar has taken a number of measures to stimulate investment and attract foreign investment to vital sectors of the economy, including issuing a set of new commercial laws, facilitating the process for obtaining licenses for establishing business centres, and licenses for commercial businesses, and giving special privileges to international investors who wish to invest in Qatar.

2. Advanced Business Environment

Qatar is ranked 2nd globally for its stable macro-economic environment and 18th globally in the 2016 Global Competiveness Index, largely due to its policies which have created an advanced business environment. These policies include adhering to all trade agreements, implementing flexible economic policy to facilitate business and investment, and giving special privileges to non-Qatari foreign investors allowing them to provide up to 100% of capital for any project, and exempting them from income tax for up to 10 years.

3. Promising Investment Opportunities in various sectors

Qatar’s adoption of open economic policies and diversified economy has made the investment environment more attractive by launching important partnership projects between the private and the public sectors and providing promising investment opportunities in various sectors, including logistics, food security education, health and sports.

4. Developed Infrastructure

Qatar has increased government spending on infrastructure projects with the aim of strengthening the competiveness of Qatar’s economy on the regional and international levels. Its major infrastructure projects include Hamad Port, one of the Middle East’s largest hubs, Hamad International Port, Doha Metro, Qatar Rail, a dynamic road network, and high-quality logistical areas, and financial centres that provide support for investors.