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Qatar provides businesses with rapid access to leading markets and suppliers. In 2000, the Qatari government has increased efforts to implement its policies aiming at diversifying income sources and developing the economic infrastructure. It has intensified its efforts to provide the best possible utilisation of its hydrocarbon wealth.
Firstly, the government has expanded exploration projects in oil and gas fields, and offered incentives to attract foreign investors to carry out similar projects in Qatar. It has issued several laws to simplify investment procedures and liberalise the economy.
In parallel, the government has implemented a new economic policy of public expenditure and has diversified sources of national income to include non-oil sources.
Consequently, the country has witnessed tremendous economic improvement manifested by a surplus in the current account of the expenditure scale, a reduction of deficit in the general budget, and the stabilising of inflation and exchange rates. Overall, the national economy has developed tremendously during the past few years.
The economy of Qatar achieved remarkable growth during 2005, with GDP rising by 33.3% (up to 153.3 billion Qatari riyals).
Annual inflation in Qatar rose to 13.73% at the end of the third quarter of 2008 from 12.82% at the end of June 2008. It is the second-fastest pace on record, as rents and food prices surged in the Gulf state that is adopting price controls to curb price rises.
Qatar is undergoing significant changes in its education system and a number of schools have moved recently from the control of the Ministry of Education to become independent schools under the newly formed Higher Education Council.
Sheikha Moza, the consort of H.E. Sheikh Hamad, is widely credited with spearheading this trend, which is seen as a drive to:
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Improve the quality of education in Qatar |
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Remove the monopoly of the Ministry of Education |
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Provide parental choice |
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Open up the system to a variety of different educational methodologies and approaches |
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Put Qatar firmly on the map as a knowledge society. |
Education policy in Qatar is committed to respecting the heritage and conservative personality of the people. It aims to enhance development of school curricula and educational systems in line with the achievements of the times, the latest technological advances and modern educational experiences.
Although the need for nationalisation is not as acute as for some Gulf States, there is a Qatarisation drive and all companies are expected to ensure that at least 50% of their workforce is Qatari. At the same time there is a desire to trim down the bloated public sector bodies, traditionally manned by Qataris, and there is a need now for diversification. More Qataris are now working in the financial and tourism sectors and for Qatar Petroleum.
Quality Qatarisation requires close liaison and coordination between the energy and industry sector and government ministries and institutions.
The role of expatriates as partners supporting the Qatarisation process is very important. Expatriates who have contributed favourably to the Qatarisation drive are valuable members of the workforce. The employment of those high performing expatriates will continue in new business developments and expansions in the energy and industry sectors.
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