(MENAFN- The Peninsula)
Joel Johnson
|
The Peninsula
Doha: Qatar is gearing up optimistically for 2025 with reports revealing a robust Economy due to surging energy prices, steady domestic demand, and government spending, states Fitch Solutions in its latest report.
Analysts predict that soaring hydrocarbon and investment activities continue to drive the GDP growth to more than 2 percent in the coming year.
Qatar's government has been“aggressively” seeking ways to diversify the Gross Domestic Product (GDP) aiming to lower its dependence on hydrocarbons and strengthen the country's services sector aligned with the Qatar National Vision 2030.
In its report on trade and investment risk, Market experts emphasis the current initiatives to improve the legal and tax frameworks to support the country's economic growth and encourage domestic CapEx and Foreign Direct Investment (FDI).
The report indicates that currently risks are tilted laboriously to the downside as a potential for regional conflicts in the Middle East as proxies could derail economic growth and investment.
Data signals businesses and investment activities in the country are prone to trade risks and opportunities including trade barriers, free trade agreements, investment incentives, investment restrictions, FDI flows, key import and export markets, government intervention, taxation, and the development of the legal and bureaucratic systems.
However, Qatar's expansion of LNG projects, rising FDIs, and optimistic business outlook indicate an openness to economic boost with several opportunities offered in the country.
With its local, regional, and global peers, Qatar is positioning itself as a key investment hub, sources told The Peninsula.
Recently, QatarEnergy inaugurated four new conventional-size LNG vessels built in the Samsung Heavy Industries Shipyard and the Hanwha Ocean Shipyard in Korea as part of its historic fleet expansion program.
The data further evaluates key investment barriers and incentives in the country coupled with its stronger trade flows, main trading partners and products, and trade barriers.
Fitch Solution also highlighted key risks arising from the burden of taxation and financial barriers on foreign and local firms. It also stated the development of the financial market, the density of the banking sector, the availability of credit, and the sophistication of the market.
MENAFN11112024000063011010ID1108871394
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.