Qatar's Public Works Authority (Ashghal) is working on projects worth $200 billion as the country races to boost its infrastructure ahead of the Fifa 2022 World Cup, said a report.
These projects represented important opportunities that will encourage foreign investment and enhance partnerships, reported The Gulf Times citing a senior minister.
"Qatar will be transforming itself into a knowledge-based economy by 2030 with the lead role being played by the private sector. Over the past few years, the country has been pursuing a flexible and multi-faceted economic strategy derived from the Qatar National Vision 2030," remarked Sheikh Ahmed bin Jassim bin Mohamed Al Thani, the Minister of Economy and Commerce.
The minister was addressing a luncheon meeting hosted jointly by the Qatar Embassy in Washington DC, the US-Qatar Business Council and the US Chamber of Commerce.
His presentation focused on Qatar’s strategy for growth through diversifying the economy and increasing foreign investment.
"The strong, friendly and economic partnership between Qatar and the US has achieved remarkable economic growth and increased trade volume," he stated.
The total trade volume between the two countries reached $4.5 billion last year.
“Qatar’s business environment is continually being advanced to encourage more foreign direct investment and welcome an ever-growing number of international business partners,” said Sheikh Ahmed.
The minister highlighted Qatar’s investment in infrastructure, in particular the Hamad International Airport, the New Doha Port, and a new highway system.
The advanced infrastructure, including the economic zones managed by Manateq, would encourage the establishment of new businesses in Qatarm, he added.