Qatar is a great country for many reasons, but one of the major ones is its healthy economy. According to His Excellency Ali bin Ahmed Al Kuwari, Minister of Commerce and Industry, Qatar’s economy continues to grow at an impressive rate. According to a recent report, this progress is mainly due to the effective policies implemented to enhance the productivity of the industrial, food, medicine, and other sectors in the country.
Qatar is the number one exporter of liquefied natural gas. It has also been dubbed the richest country in the world, at least in terms of GDP per capita. Almost thirty percent of the liquefied natural gas exports are accounted as coming from Qatar.
Qatar Implements Laws to Further Enhance Foreign Trade
1. Developing Exports
According to Qatar’s Minister of Commerce and Industry, the country is creating new ways to enhance its capability to export across various sectors, most notably in manufacturing. The Minister also added that they continue to enhance ties with foreign trading partners, while establishing new ones. Qatar advertises that it is a country that is strategically located as a commercial hub.
2. Great Investment
The Minister added that Qatar is a great country to invest in for several reasons. Aside from the fact that it is strategically important, Qatar’s business environment is quite complex and high-level; plus, it’s tax free. The government even allows foreign investors to own one hundred percent across various economic activities and sectors.
3. Increasing Foreign Trade
Qatar’s foreign trade has increased by 16 percent. Export volume has also increased by 18 percent, according to the Minister. This can be attributed to important measures that have been done to enhance foreign investor entry into Qatar’s market. A recent law has been passed to regulate capital investment among non-Qataris who wish to do business in the country, and this has been helpful to foreigners in the sense that trades have become more transparent and they now receive more protection from known side agreement risks.
One major contributor to Qatar’s success is the Hamad International Airport and the Hamad port. These two gateways to the country are some of the biggest in the region. The airport, for instance, carries an average of 50 million passengers annually. Qatar Airways, the country’s flagship airlines, is one of the best, if not the best, in the world. Moreover, Hamad Port located at the southern part of Doha, is a key player in terms of connecting the country to the biggest commercial centers the world has to offer.
Qatar remains one of the richest nations in the world. It’s definitely one of the must-visit places in your travel itinerary.