The Qatar National Vision 2030: What it is and how your business can benefit
What is the Qatar National Vison 2030?
The Qatar National Vision 2030 is a masterplan and roadmap with the stated goal that “Qatar becomes an advanced society capable of sustaining its development and providing a high standard of living for its people”. It has identified 5 challenges that must be overcome in order to meet the goal, these are:
- Modernization and preservation of traditions
- The needs of this generation and the needs of future generations
- Managed growth and uncontrolled expansion
- The size and the quality of the expatriate labor force and the selected path of development
- Economic growth, social development and environmental management
How will the Qatar National Vison 2030 be achieved?
Qatar’s ability to meet the vision is based on 4 pillars, these are:
- Human Development
- Social Development
- Economic Development
- Environmental Development
In recognition of the fact that oil and gas reserves are dwindling, Qatar’s economic future will depend on the ability of the population to be successful in a highly competitive, knowledge based economy. This will be led by investment in the educational sector and the local health systems, as well positioning the local population for active participation in the local labor force.
Qatar seeks to build a safe, secure and stable society. Moreover, it will provide its citizens with their basic needs and guarantee them equal opportunities. This will be achieved through effective public institutions and strong and active civil society organizations.
Creating sustainable economic diversification through the investment of hydrocarbon revenue. Providing opportunities for the private sector to play an active role in the development of the infrastructure required to provide this sustainable growth. Promote the formation of SME’s through the provision of financial and nonfinancial support. Providing all of this support while avoiding economic imbalance.
Acknowledgement of the need to ensure effective environmental management and sustainability in the attainment of the goals of Qatar National Vison 2030. Providing support for the international efforts to mitigate global climate change.
How can your company benefit from the Qatar National Vision 2030?
The Qatar National Vision 2030 goes beyond, both, FIFA 2022 and the continued investment in the Oil and Gas sector. It’s focus is on developing the non-hydrocarbon economy and ensure a sustainable future for the people of Qatar. This includes major investment in infrastructure including education and healthcare as well as developing an in-country technology manufacturing capability. Many initiatives have already been implemented under the plan, such as the formation of the Qatar Science and Technology Park, which is aimed at promoting technological research and development.
Qatar wants to attract new businesses to the country in order to support the vision and will continue to introduce more efficient ways for businesses to operate. This provides long term investment opportunities to any company who previously felt they didn’t fit into the hydrocarbon economy.
Are you looking to start a company in Qatar?
If you’ve been considering starting a company or expanding to Qatar but are unsure about how to approach company formation, please speak to one of our Venture Partner Qatar experts for guidance and support.
Venture Partner Qatar can assist with company formation and business consultancy in Qatar. For more information, please speak to one of our team members on +974 4478 8765 or email email@example.com or complete the contact form below and we will be delighted to assist you.