Exports are booming on the back of rising
volumes of natural gas production, as well
as high oil prices.
Strong current account surpluses are therefore set to continue. With a relatively
small population of
670,000 of whom 180,000 are native citizens of Qatar, the enormous revenues from
oil and gas have made
Qatar in GDP per capita terms, the richest country in the Arab world.
Projects to deliver gas to other States in the Arabian Gulf region, and beyond,
will also continue to boost exports.
Area and Population
Total population 670,000
The Qatar Peninsula is approximately 160 KM from North to South and some 80
KM from East to West.
Growth
A good growth of 6.9% in 2004 is forecast driven largely by exports. As the
economy is highly dependent
on hydrocarbons, which account for 85% of exports, price fluctuations are a
key source of risk. In the
event of any crash in oil prices, regional demand would contract hitting the
services sector. However, large
natural gas reserves and high levels of government saving mean that risks are
limited.
Budget
The 2004 / 2005 budget provides for a rise in expenditure of 22%, mainly
in order to finance large capital
investments, including transport and construction projects. Even based on a
very conservative oil price
assumption of $19 per barrel, the budget projects a deficit of 3% of GDP. However,
a substantial
surplus is likely, as in the past few years, given the ongoing high trend in
the price of oil.
External Trade
The Qatar government has supported both heavy and light industrial initiatives.
Qatar’s steel industry has become a premium quality regional supplier
and is the only regional producer that
exports a major portion of its production.
During the last decade, partnerships involving state-run companies and
off-shore investors have resulted in
the development of petrochemical and fertilizer plants which have exported
significant quantities of
production.
Qatar Industrial Manufacturing Company has been active in promoting private
sector investment in small
and medium sized ventures.
Financial and Monetary Policy
The main financial policy of the State is to motivate social and economic development
in Qatar through
the establishment of major projects, improving living conditions and diversifying
the income of national
sand expatriates.
Qatar aims to attract foreign investment in areas of Education, health
and Tourism where foreign
investors may hold a majority stake in the business, supported by generous
tax benefits and allocation of
land area for building.
Banking
The banking system reflects a growing number of National Banks, notable amongst
which are Qatar
National Bank, Commercial Bank, Doha Bank Al Ahli Bank, Qatar Islamic Bank and
the Qatar Industrial
Development Bank. International Banks are also well represented, amongst which
are HSBC, Standard
Chartered, Grind lays Qatar Bank, BNP Paribas, Bank Saderat and Union Bank.
Tourism and Sports Tourism
A systematic upgrading of the country’s attractiveness as a touts
and sports tourism location is an integral
part of government policy. Numerous expansion projects are transforming the
country including a new
international airport, new residential developments, new hotels and shopping
malls. Sports tourism will also
become prominent on the back of the Asian Games to be held in Qatar in December
of 2006 which will
attract 11,000 athletes from all Asian countries.
Qatar is regarded as a safe country for visitors, with a premier golf course,
beautiful beaches and sports
activities such as fishing, sailing, scuba diving, motor rallying and Motor
Cycle racing.
Although of infrastructure and services expansion, but the government obsession
is remained not depend on single resource with the necessity to nationalize Gas
and Oil resources, by expanding the preclusion base and developing of Economical
sectors in on integral way and continuous cooperation between the private and
public sectors.
This proceed has led to the emergence of non petroleum activities contributed
and enhanced local production.
Qatar became among the biggest investment attracting countries. Businessmen
and investor used to hunt up the unlimited investments opportunities either
through internal investments or through the government investments promotions.
The financial assortment recently made is considered as strong evidence for
Qatar safety methods that applied under the directors of H.E. the Emir of the
state of Qatar.
In addition the state of Qatar is very concerned about issuing and enacting
of Laws and economical legislation. Such intellectual property. Foreign investments,
commercial companies, commercial agents and other important Laws that may issue
or amended accordingly.
These efforts which running under the direction of the Emir accompanied by
provision of better chances to the Qatar private sector and the ways to a activate
and develop these chance in addition to improve national development as well
as a successful implementation of nationalization program in addition to the
expansion of Qatari national participation for governmental project. Many Qatar
national have benefited from these policies. Qatar economical achievements
are much contributed is re-mapping the investment process as the state of Qatar
has now became a vital field to many international companies. Qatari people
have now begun benefiting this fruitful economical resurrection in various
fields.
External Trade is considered vital sector, which playing
an important role in the building of Economical relations between countries.
External revenues one the main resource to Finance the country public discernments,
and so do all the country needs are obtained through imports.
Qatar in general has adopted the free international system. In 1994 Qatar
was the number 121 in the General Agreement for trading and customs Tariff
which known as (International Trade Organization).
Qatar is a prominent member of GCC, OPEC, Monetary Fund and Arab League.
Exports
In 2001 Exports has draw back to a proportion of 5% to reach 39.6 billion
Qr. against 41.6 Billion in 2000.
Qatar External Trade
Qatar exports to Asian countries are the highest as it
reached (34655.3) then the Arab countries reached
(1390.6), in which the UAE is the first as it reached (702.5), Saudi Arabia
(417.5)Qr. Million, Kuwait
(45.9) Jordon (43.9) Qr. Million, Egypt (38.8) Qr. Million and Bahrain (36.8)
Qr. Million.
As for the pricing set up for exports, petrol and Metallic fuel have scored
(91%), then Petrochemical (4.3%) and manufactured commodities (2.2%).
Commercial balance estimations in 2001 have disclosed surplus of (27.2) Billion
with dropping average of (13.6%). This is due to the dropping of goods export
outcome for the average of (6%) to reach to (39.6) Billion against (42.2), in
which the main reason was the dropping of Oil exports in addition to the increase
of imports disbursements by (15.5%) to reach Qr. (12.3) Billion in the year 2001
against (10.7) Billion.
Imports
Qatar imports have scored Qr. 13.7 Billion in the year 2001, against Qr.
11.8 billion in the year 2000, and around Qr. 9 Billion in 1999. European group
is considered the number one as it was scored (38%). Asian countries (27.1%)
American countries (16.3%) and last Arab countries (13.8%).
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The Darwish Group – a large established group with
a reputation for quality, reliability and overall excellence, has been instrumental
in the country’s commercial development. The activities of the group
can be traced back to over 70 years, originally providing services as a local
agent, supplying labour, accommodation, communication, transportation and other
services to premier oil and mining exploration companies in Qatar.
Today the Darwish Group is a multifaceted organization incorporating a number
of divisions which serve the rapidly expanding business market in Qatar.
General Trading as exclusive agent for International Companies
Building materials, electrical trading & system, air-conditioning ventilation
and refrigeration products, medical & laboratory equipment, lighting products,
petroleum & Industrial services, communication security systems and imaging,
computers, office equipment & furniture, domestic appliances, automobiles
construction heavy equipment, tyres and batteries transportation & clearance
services.
- Construction : Main civil contracting, Decoration contracting Mechanical & Electrical
contracting Elevators & Escalators.
- Travel & Tourism : Airlines,
GSA, Cargo, Tour operations.
- Hotels : Hotel management (Oasis Hotel & Beach
Club) and catering.
- Real Estate Development.
Manufacturing : GRC, GRG, GRP & PCC products, Aluminium powder coating, Mechanical
air condition ducting, Timber, Joinery & Furniture.
Serving Qatar’s fast growing oil & gas, industries for both onshore
and offshore operations. Engineering, environmental survey’s health safety
and environment. Electrical instrumentation and control systems, chemicals,
mechanical, inspection and testing, marine equipment, Civil contractors, Electrical
installation & services, Residential Villas & Complexes, Office buildings,
Roads & maintenance, water supply & sewerage sections, Supply & Installation
of all types of marble & granite, Swimming pools, Fountains, Rock-arts,
hard & soft landscaping, Elevators & Escalations skilled work force.
Varied activities in the high technology market security systems, Mobile phones,
Datacom equipment, Communication equipment, Marine radio/radar, Fire Marine
safety equipment and Traffic signals.
Timber products, Portable accommodation, Interior / exterior design GRC,GRG & PCC.
GSM for 18 major airlines, Retail Sales outlets, Business travel, freight
services, import/export of goods-cargo by land, sea & air, packing & international
forwarding services, Car-hire, Local and Overseas tours and Travel arrangements
for both business and leisure.
- Electronic repairs
- Domestic appliance service centre
- Construction equipment
- Automobiles garage services
- Contracting & Marble factory
- Mechanical workshop
Legal department-advice on all aspects of Qatar commercial law-Agency sponsorship & joint
venture, labour law, local regulations for the importing of goods and equipment.
Skilled personnel department for obtaining visas, company registrations and
local registrations.
Provision of office, staff / management accommodation and transport-Langue
translation services-both general & technical.
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