The Qatar National Vision 2030: What it is and how your business can benefit

The Qatar National Vision 2030: What it is and how your business can benefit

The Qatar National Vision 2030: What it is and how your business can benefit

What is the Qatar National Vision 2030?

The Qatar National Vision 2030 is a master plan 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 Vision 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

Human 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 as positioning the local population for active participation in the local labor force.

Social Development:

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.

Economic Development:

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 non-financial support. Providing all of this support while avoiding economic imbalance.

Environmental Development:

Acknowledgement of the need to ensure effective environmental management and sustainability in the attainment of the goals of Qatar National Vision 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. Its 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.

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