Qatar seen as GCC’s next “Mega Project” hot spot
Qatar is set to become the world leader in the gas-to-liquid industry by 2010, and its dynamic construction sector including landmark projects such as the Khalifa Stadium, the US$2 billion airport and ‘The Pearl-Qatar’, present unique investment opportunities, say regional economists.
The booming Qatari economy, construction and petrochemical sectors, will be the subject of a major conference on new project opportunities in the country, to be held at the InterContinental hotel, Doha on January 11 and 12.
Abdullah Bin Hamad al-Attiyah, second deputy prime minister, minister of energy and industry and chairman of Qatar Petroleum, will deliver the keynote address. Other speakers include His Excellency Sheikh Mohamed A. al-Thani, minister of economy and commerce, and Nasser Jaidah, director, oil and gas ventures, Qatar Petroleum.
“The burgeoning economy stimulated by sound socio-economic policies has truly transformed our country. This MEED conference will provide an ideal platform to highlight the major strides taken by the Government of Qatar to create a business climate conducive to the phenomenal growth we have witnessed in recent years,” said Sheikh Mohammed A. al-Thani.
Qatar has signed several deals that will make it a major international energy provider. It has the world’s second largest natural gas reserves with an estimated 900 trillion cubic feet, and recently agreed deals with ExxonMobil and Shell, worth a total of US$17 billion to supply natural gas.
Qatar Airways Chief Executive Officer Akbar Al Baker said: “In 2005, Qatar will be the talk of the Middle East due to the scale and number of projects that are underway, or being proposed, which will catapult the country onto the world stage.”
“There are numerous opportunities for regional and international companies to become involved in the development of Qatar. This conference will provide an overview of the many potential investments that exist here, and provide a forum for discussion on the future development of Qatar.”
The country is also aggressively targeting the tourism market, with a US$ 15 billion investment plan to make it one of the region’s most desirable holiday locations. Iconic projects such as the man-made archipelago the ‘The Pearl-Qatar’, have bought Qatar worldwide attention.
“Qatar has steadily emerged as the region’s strongest and most vibrant economy,” said Edmund O’Sullivan, conference chairman and editorial director, MEED. “The infrastructure planning that is being put in place now, will ensure Qatar’s success in the years to come and this conference will provide an overview of the projects and opportunities that exist for regional and international investors.”