OBG Explores Qatar's Economic Development
Date
5/24/2024 10:39:04 AM
(MENAFN- The Peninsula) The Peninsula
Doha, Qatar: Qatar's efforts to accelerate economic diversification and private sector development following the successful hosting of the 2022 FIFA World Cup are explored in the newly released The Report: Qatar 2024 by Oxford Business Group (OBG). This latest publication by the global research and advisory firm presents a thorough examination of Qatar's transition towards a knowledge-based Economy as it explores new avenues for sustainable growth and global engagement.
Bolstered by significant infrastructure developments for the 2022 FIFA World Cup and strategic reforms in the business and investment landscape, Qatar's economy has witnessed significant expansion in recent years. Leveraging its abundant natural gas reserves and expertise in liquefied natural gas (LNG) production, Qatar is actively broadening its economic base to reduce dependence on hydrocarbons and stimulate job creation.
At the forefront of Qatar's economic strategy is the Third National Development Strategy 2024-2030, which is designed to ensure fiscal stability, generate new growth engines and cultivate a skilled and versatile workforce. The strategy also underscores the government's commitment to prioritising social welfare, with the country undertaking substantial investments in health care and education that are aimed at improving living standards and expanding economic opportunities.
The report features a number of viewpoints and interviews from high profile government and business leaders
Jana Treeck, OBG's Managing Director for the Middle East, said Qatar is well placed to capitalise on its enhanced global profile following the 2022 FIFA World Cup.
“Qatar has invested heavily in developing advanced transport and hospitality infrastructure over a sustained period. With the focus now firmly on expanding LNG production capacity to capitalise on its extensive reserves and strong global demand, the country has strong foundations for nurturing new growth engines to support sustainable development,” Treeck remarked.
Commenting on the release of The Report: Qatar 2024, Oliver Cornock, OBG's Editor-in-Chief, highlighted the crucial role that social and educational investments are playing in shaping the future of the state.
“Qatar's policy agenda is geared towards equipping the next generation with the skills and knowledge needed to excel in a globally competitive workplace. Concerted efforts to develop the knowledge economy signal Qatar's commitment to sustainable growth and recognition of the importance of talent and innovation in achieving its ambitious economic goals,” Cornock noted.
MENAFN24052024000063011010ID1108254106
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.