Qatar National Vision 2030
Qatar National Vision 2030 (QNV2030) is a strategic plan focused on i) human ii) social iii) economic and iv) environmental development in Qatar. QNV2030-related programs and projects continue to have a direct impact on the Qatari economy, investment flows and labour market.
Opportunities related to QNV2030
In our opinion, QNV2030 will create new business opportunities for multinational Clients and investors over the coming decade in sectors such as:
- Oil and gas, for example i) increased demand for environmental-related services and technologies e g clean fuels innovations and ii) advanced technologies which improve oil and gas extraction rates.
- Financial services, for example i) Islamic banking and ii) financial technology (FinTech).
- Education, for example in the provision of i) training schemes for Qatari nationals and ii) certification programs.
- Smart technologies, for example used in i) the provision of public services ii) urban planning and development.
Risk factors related to QNV2030
Multinational Clients setting up businesses in Qatar to capitalise on QNV2030 opportunities may be at risk from the following over the next decade:
- Geopolitical instability in the Middle East, including a prolonged economic and trade embargo on Qatar which could delay some QNV2030-related projects.
- Low global gas prices which could affect Qatar government income and slow spending on QNV2030-related projects.
- A loss of development momentum after the 2022 World Cup, when i) large-scale infrastructure and transport schemes are completed and ii) large amounts of real estate built for the event lies empty.
Conclusion
QNV2030 is an opportunity for multinational Clients. Healy Consultants Group can assist with Qatar market entry, including company incorporation, bank accounts and assistance with setting up businesses in one of Qatar’s free zones.
