Qatar has one of the world's fastest growing economies, based on its oil and gas wealth. The government has committed itself to an investment programmed amounting to some US$130 billion in projects across all major sectors over the next 5-7 years. There are ample opportunities for businesses to generate new revenue streams in Qatar, and these prospects are particularly attractive for financial services companies.
Qatar already has a proven record of turning big projects into reality, and quickly. Financing and infrastructure opportunities are significant - many are associated with Liquid Natural Gas, where Qatar is scheduled to be the world's largest supplier by 2008.
Qatar has the highest per capita income in the Middle East, and a GDP per capita among the highest in the world, an ideal environment for financial services companies.
Qatar is favourably positioned between Asia, the Far East & the West, with excellent working relations that open up many financial services and trading opportunities.
With the Qatar economy performing strongly, there is great potential for growth within the financial services sector in Qatar, and the Qatar Financial Centre provides international financial services companies the required legal and regulatory framework to operate in.Combined, the revenue potential, low cost and low risk for financial services companies as well as associated firms, of participating in Qatar's exciting development through the Qatar Financial Centre provide a compelling logic for taking a closer look at these opportunities
Economic and financial
The Qatar economy is one of the world's fastest growing, with real GDP growth of 9.9% in 2004, an estimated 8.8% in 2005 and 9.3% in 2006. Fiscal policy is prudent, with regular large surpluses on fiscal and on current account. Qatar's risk rating leads the region, with Standard and Poor rating at A+ and Moody's at A1, reflecting not only the fundamental soundness and strength of the Qatar economy, but also the favourable regulatory, legal and business environment.
Reliance on crude oil exports in the past has been replaced by a two pronged approach to management of the Qatar economy. This focuses not only on developing the country's huge natural gas reserves and its expansion of liquefied natural gas, petrochemicals and condensates production, but also on a programme creating a more broadly based Qatar economy through economic liberalisation and diversification.
That is why the Government's aim is not merely to make Qatar the world's leading producer of liquefied natural gas by 2010, but also to further develop and enhance the Qatar economy through investment in and expansion of its financial centre to attract international financial services and associated companies into sectors such as transport and tourism, health and education.
