Economic development is an essential part of the Qatar National Vision 2030, as the engine that drives progress by providing better opportunities and a better way of life for the country’s citizens. Achieving that objective hinges on Qatar’s ability to create a balance between an oil-based and a knowledge-based economy, helping diversify the country’s economy and guaranteeing a stable and sustainable business environment. The Qatar National Vision 2030 will also guide the wise management of the Qatari economy, helping increase competition, attracting more investments, and stimulating growth.
Sound Economic Management
- Reasonable and sustained rates of economic growth that secure a high standard of living for this generation and for future generations
- Financial and economic stability characterized by low inflation rates, sound financial policy and a secure and efficient financial system
- A stimulating business climate capable of attracting foreign funds and technologies and of encouraging national investments
- Open and flexible economic structures capable of competing in a changing world
- Coordination with Gulf Cooperation Council states and with Arab and regional economic organizations to establish trade, investment and financial ties
Responsible Exploitation of Oil and Gas
- Optimum exploitation of hydrocarbon resources, establishing a balance between reserves and production, and between economic diversification and the degree of depletion.
- A vigorous oil and gas sector that generates advanced technological innovations and contributes to the development of human resources and economic capacities throughout Qatar.
- A fully developed gas industry that provides a major source of clean energy for Qatar and for the world.
- The long term maintenance of strategic reserves of oil and gas to meet the needs of national security and sustainable development
Suitable Economic Diversification
A diversified economy that gradually reduces its dependence on hydrocarbon industries, enhances the role of the private sector and maintains its competitiveness through:
- Expansion of industries and services with competitive advantages derived from hydrocarbon industries
- Design and development of economic activities in which Qatar can specialize, including the technical and human requirements of these activities
- A knowledge-based economy characterized by innovation; entrepreneurship; excellence in education; a world-class infrastructural backbone; the efficient delivery of public services; and transparent and accountable government