Latest news with #NDS3
Zawya
20-07-2025
- Business
- Zawya
Qatar's economic diversification gains traction amid drive for digital transformation and sustainable growth
Oxford Business Group examines long-term investment strategies in The Report: Qatar 2025 as research begins for the 2026 editionDoha, July 2025: Qatar's efforts to accelerate economic diversification, deepen its digital capabilities and enhance sustainability form the central focus of The Report: Qatar 2025, the latest research publication by global research and advisory firm Oxford Business Group (OBG). The report explores how the country is leveraging its strong economic fundamentals and vast energy wealth to stimulate growth across high-potential non-oil sectors. Guided by the Third National Development Strategy (NDS3), Qatar is prioritising strategic investment in logistics, manufacturing, ICT and sustainable technologies, while maintaining its global leadership in LNG production. New legal frameworks supporting 100% foreign ownership and targeted incentives are further reinforcing the country's status as a regional hub for innovation, trade and finance. Economic Resilience and Continued Growth Momentum The launch of The Report: Qatar 2025 marks the start of research for The Report: Qatar 2026, underscoring the country's sustained economic momentum and ongoing transformation. Qatar's economic resilience is demonstrated by robust performance indicators, with the non-oil sector contributing significantly to GDP growth while diversification efforts continue to gain traction across key industries. Recent statistics reflect Qatar's economic strength, with consistent expansion in education, ICT, and services sectors, alongside maintained fiscal stability despite global economic uncertainties. The country's strategic approach to balancing hydrocarbon revenues with investment in future-ready sectors has positioned it as a model of economic diversification in the region. The publication includes a detailed analysis of Qatar's digital transformation drive and national AI agenda, spotlighting the country's first Arabic-language large language model and the introduction of policy frameworks such as the Digital Agenda 2030. The report also reviews the role of the financial sector in supporting economic expansion, with insights into banking resilience and fintech partnerships, as well as developments in capital markets, including new ESG-focused offerings and efforts to attract international investors. Additional coverage is dedicated to the country's long-term infrastructure plans and visitor economy, with assessments of policies aimed at developing the transport and logistics sector, alongside the expansion of tourism offerings and cultural infrastructure. Qatar's progress in diversifying its economic base is illustrated by consistent growth in education, ICT and services. Geopolitical Leadership and Global Partnerships Qatar's resilience on the global stage is further underscored by its growing role as a geopolitical mediator and advocate for diplomacy. As the country continues to invest in future-ready sectors and global partnerships, its ability to navigate both economic and geopolitical complexity will remain a defining strength going forward. This dual capacity—combining economic transformation with diplomatic leadership—reinforces Qatar's position as a strategic partner for international investors and governments alike. Commenting on the findings, Fernanda Braz, OBG's Country Director in Qatar, said the report captures a key period in Qatar's development story, marked by sustained policy implementation and sectoral expansion. "The research confirms that Qatar is steadily advancing towards its diversification targets, with key industries showing strong momentum. This is supported by ongoing regulatory reform, digital innovation and a long-term approach to sustainable development. As we begin research for The Report: Qatar 2026, we're seeing continued evidence of the country's economic resilience and adaptive capacity in an evolving global landscape," she said. Oliver Cornock, OBG's Editor-in-Chief, added that the country's ability to maintain macroeconomic stability while investing in structural transformation continues to set it apart in the region. "Qatar's efforts to strike a balance between leveraging hydrocarbons and investing in long-term growth sectors are positioning it as a competitive and forward-looking economy. Our report outlines how policy direction and strategic clarity are reinforcing investor confidence. The ongoing reforms and diversification efforts we're documenting for our upcoming 2026 research demonstrate Qatar's commitment to building a resilient, future-ready economy," Cornock said. The Report: Qatar 2025 features exclusive interviews with Sheikh Bandar bin Mohammed bin Saoud Al Thani, Governor of the Qatar Central Bank; Saad Sherida Al Kaabi, Minister of State for Energy Affairs and President & CEO of QatarEnergy; Mohammed bin Ali Al Mannai, Minister of Communications and Information Technology; Sheikh Mohammed bin Hamad bin Qassim Al Abdullah Al Thani, Minister of Commerce and Industry; and Jassim Saif Ahmed Al Sulaiti, Minister of Transport. The publication has been produced following in-country research by OBG's team of analysts and is available in print and online at: About Oxford Business Group Oxford Business Group (OBG) is a global research and advisory company with a presence in over 30 countries, spanning Africa, the Middle East, Asia, and the Americas. It is recognised internationally as a distinctive and respected provider of on-the-ground intelligence on world's fastest-growing markets, termed The Yellow Slice, in reference to OBG's corporate colour. Through its range of products – Economic News and Views; OBG CEO Surveys; OBG Events and Conferences; Global Platform, which hosts exclusive video interviews; and The Report publications – as well as its Advisory division, OBG offers comprehensive and accurate analysis of macroeconomic and sector-level developments for sound investment opportunities and business decisions. OBG provides business intelligence to its subscribers through multiple platforms, including its direct subscribers, Dow Jones Factiva subscribers, the Bloomberg Professional Services subscribers, Refinitiv's (previously Thomson Reuters) Eikon subscribers, and more. For more information, please contact: Marc-André de Blois Director of PR and Video Content, Oxford Business Group E-mail: mdeblois@ 802 Publishing Pavilion, Production City PO Box 502 659 Me'aisem First Dubai UAE th Floor 105 Victoria Street London SW1E 6DT Register to receive our Economic Updates:
Zawya
16-07-2025
- Business
- Zawya
LNG expansion to enhance Qatar's position as global supplier
Doha: Qatar's economic diversification is paving the way for a more resilient economy and sustainable growth. The economic outlook for Qatar is promising, with several key developments shaping its trajectory. Economic growth is expected to remain modest through 2025, accelerating to a high of 7.9 percent in 2027, according to IMF projections. This growth will be driven by the expansion of liquefied natural gas (LNG) production, initial reform gains from implementing the Third National Development Strategy (NDS-3), and the adoption of innovative technologies. The expansion of LNG production including the North Field South (NFS) LNG project, is a cornerstone of Qatar's economic strategy. With production starting in 2026, increased LNG output will not only boost export revenues but also support growth in related industries and infrastructure development, noted Qatar Financial Centre in a report. This expansion is expected to enhance Qatar's position as a leading global LNG supplier, providing a stable revenue stream that can be reinvested into other sectors of the economy. Meanwhile, NDS-3 will continue to drive sustainable economic growth by diversifying Qatar's economy beyond hydrocarbons, fostering innovation, and creating a business-friendly environment. The focus on developing the private sector will continue, supported by world-class infrastructure and international events. Initiatives in manufacturing, logistics, tourism, IT, and financial services will reduce reliance on hydrocarbons and create new revenue streams. Technological innovation and investment in cutting-edge technologies will also play a crucial role in Qatar's economic transformation. By embracing digital transformation and fostering a culture of innovation, Qatar aims to enhance productivity, create high-value jobs, and attract international investments. A focus on artificial intelligence (AI), clean energy, and smart infrastructure aims to position Qatar as a leader in the global innovation landscape. Qatar hosts a conducive business environment for financial institutions, providing world-class infrastructure, a competitive tax framework, and progressive regulatory reforms. A key value proposition for Qatar as a financial hub is its strategic prioritisation of financial services at the policy level. Financial services are integral to Qatar's National Vision 2030 and the NDS-3, which emphasise economic diversification and investor-friendly initiatives. In particular, NDS-3 supports the development of financial services through innovation, efficiency, and regulatory oversight, targeting niche specialisations such as InsurTech, asset management, and capital markets. Qatar hosted its first Web Summit in 2024, becoming the first country in the region to do so, aiming to enhance its position as an innovation and technology hub. The Web Summit series is one of the world's largest technology conferences, connecting a new generation of entrepreneurs with global investors and industry leaders, fostering innovation and collaboration within the tech industry. The inaugural event had a notable impact on Qatar's FinTech and startup ecosystems. One of the major outcomes was the announcement of QIA's $1bn Fund of Funds to support entrepreneurs and startups in the region, with FinTech being one of the programme's priority sectors. The program has a dual investment mandate to achieve good financial performance and deliver a positive development impact on the Qatari venture capital ecosystem. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
02-07-2025
- Business
- Zawya
Qatar's economy continues to grow 3.7% in Q1 2025
Doha, Qatar: The National Planning Council (NPC) has announced GDP data for the first quarter of 2025, with Qatar's economy registering real GDP growth of 3.7% compared to the same period in 2024. GDP at constant prices reached QR181.5bn in the first quarter of 2025,compared to QR175bn in the same quarter of the previous year. These results indicate strong progress towards achieving sustainable growth, built on diversifying the economy beyond hydrocarbon activities and increasing the contribution of the private sector in accordance with the Third National Development Strategy (NDS3) and Qatar's National Vision 2030. To provide a more accurate reading of the national economy, the National Statistics Center, within the National Planning Council, deployed an updated methodology for calculating GDP, and has revised quarterly GDP data for the period between 2018 and 2024. The revisions in the methodology revolved around updating indicators for different economic activities, and introducing other advanced calculations that align with international standards for measuring output. Data issued by the National Statistics Centre highlighted the results of national efforts in strengthening the non-hydrocarbon economy, whose contribution constituted 63.6% of real GDP for the first quarter of 2025, around QR115bn, a growing share compared to the 62.6% figure in the same period in 2024. The non-hydrocarbon economy is delivering accelerated year-on-year growth of 5.3% in the first quarter of 2025 compared to the same last year reflecting the ongoing expansion of various economic activities away from the traditional reliance on hydrocarbon related activities. The growth of the non-hydrocarbon economy by 5.3% in the first quarter of this year is attributed to the growth in the manufacturing sector which increased by+5.6%, the construction sector +4.4%, the real estate sector +7.0% and the wholesale and retail trade sector +14.6%. Significant increases were also recorded in relatively smaller parts of the economy including the accommodation and food services sector +13.8%, and the transport and storage sector +3.5%, demonstrating broad-based growth and continued growth in tourism activity in the State of Qatar. The continued and consistent growth of the non-hydrocarbon economy in the first quarter of 2025 demonstrates the effectiveness of the State's policies and reforms in improving the business environment and providing opportunities to the private sector. It also demonstrates strong commitment of both public and private sectors to invest in the local market and drive growth through the implementation of the Third National Development Strategy, in line with the economic diversification roadmap set out by Qatar's National Vision 2030. Non-hydrocarbon growth was not limited to manufacturing and production activities, service activities also witnessed growth compared to the same period in 2024,professional including scientific and technical activities +7.2%,human health and social work+2.6%, and the education sector +0.1%. Service activities continue to be a priority for government and these growth rates demonstrate an intensification of efforts to enhance quality of life and human capital in Qatar, and continually increase Qatar's global competitiveness. Despite the volatility facing the global economy and its potential impact on oil and gas prices, growth in hydrocarbon activities continues, now accounting for 36.4% of Qatar's real GDP, around QR66bn, with a growth rate of 1.0% compared to the same period of 2024. These figures reflect continued strong demand for Qatari hydrocarbon products, as well as the resilience of the Qatari economy in the face of global economic challenges. Commenting on the latest GDP figures, Dr. Abdulaziz bin Nasser bin Mubarak Al Khalifa, Secretary General of the National Planning Council said: 'These indicators highlight the progress of Qatar's economy, particularly in terms of non-hydrocarbon economic growth, whose activities have recorded remarkable growth demonstrating greater diversification and stability for Qatar's economy as the State continues to strive to build a sustainable economy. The current growth rates also indicate additional opportunities for development, as there remains significant potential that we seek to unlock through the Third National Development Strategy to continue to build sustainable economic growth that offers unique investment and entrepreneurial opportunities for the private sector.' © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Qatar Tribune
01-07-2025
- Business
- Qatar Tribune
Qatar's economy sustains strong growth of 3.7% in Q1 despite regional headwinds
Satyendra Pathak Doha In the face of a challenging and volatile regional economic environment, Qatar's economy continues to demonstrate impressive resilience and sustainedmomentum. According to the latest data released by the National Planning Council (NPC), Qatar recorded a robust real GDP growth rate of 3.7 percent in the first quarter of 2025 compared to the same period in 2024. This expansion reflects the country's unwavering commitment to sustainable development and strategic diversification away from hydrocarbons. The real GDP at constant prices rose to QR181.5 billion in the first three months of 2025, compared to QR175 billion in the corresponding period of the previous year. These figures underscore the effectiveness of Qatar's long-term economic policies, particularly the emphasis on empowering the private sector and cultivating a more diversified economic landscape, as envisioned in Qatar National Vision 2030 and implemented through the Third National Development Strategy (NDS3). The remarkable progress of the non-hydrocarbon sector was particularly noteworthy in the first quarter of the year. Accounting for 63.6 percent of the total real GDP — an increase from 62.6 percent in the same quarter of 2024 — the non-hydrocarbon segment contributed approximately QR115 billion to the national economy. This sector expanded by 5.3 percent year-on-year, reflecting the broad-based and accelerating transformation of the Qatari economy. This non-hydrocarbon growth was primarily driven by notable increases across multiple key sectors. The manufacturing sector posted a growth rate of 5.6 percent, driven by industrial upgrades and increased domestic production capabilities. The construction sector continued its upward trajectory with a 4.4 percent growth rate, supported by infrastructure expansion and urban development projects. The real estate sector showed healthy growth at 7 percent, reflecting strong demand for residential, commercial, and mixed-use developments. Meanwhile, the wholesale and retail trade sector recorded a remarkable increase of 14.6 percent, indicating increased consumer spending and enhanced commercial activity across the country. Other important contributors to the non-hydrocarbon growth story included the accommodation and food services sector, which surged by 13.8 percent — a testament to Qatar's growing tourism appeal and the recovery of the hospitality industry. The transport and storage sector also grew by 3.5 percent, reflecting logistical expansion and enhanced connectivity, both regionally and globally. Services-based economic activities further reinforced Qatar's growth narrative. Professional, scientific, and technical activities expanded by 7.2 percent, reflecting the increasing importance of knowledge-based services. The human health and social work sector grew by 2.6 percent, highlighting the government's continued focus on health sector improvements and public welfare. The education sector also registered a modest yet positive growth of 0.1 percent, reinforcing Qatar's long-term investment in human capital development. These developments are a clear outcome of the government's persistent reform agenda aimed at fostering a business-friendly environment and expanding the role of the private sector. The growing contribution of non-hydrocarbon activities to national output indicates a structural shift toward economic sustainability, inclusivity, and innovation. The continued growth in services, particularly in education, healthcare, and professional domains, aligns with the overarching goal of improving the quality of life for all citizens and residents while elevating Qatar's global competitiveness. Despite uncertainties in the global economy and price volatility in international energy markets, Qatar's hydrocarbon sector maintained a stable performance. The hydrocarbon segment contributed QR66 billion, accounting for 36.4 percent of the country's real GDP in the first quarter of 2025. This sector posted a modest growth rate of 1 percent compared to the first quarter of 2024, reflecting the ongoing international demand for Qatari gas and energy products and underlining the strategic strength and resilience of Qatar's energy sector within the global marketplace. The strong performance in the first quarter of 2025 comes alongside an institutional reform in economic reporting. The National Statistics Center within the National Planning Council implemented a revised methodology for calculating GDP to ensure alignment with international standards and to provide more accurate and reliable data. This revision included updating the indicators used across various economic sectors and recalibrating output measurement models. As part of this update, GDP data for the years 2018 through 2024 was also revised, enhancing transparency and the analytical accuracy of Qatar's economic reporting. Commenting on the newly released GDP data, National Planning Council Secretary General Dr Abdulaziz bin Nasser bin Mubarak Al Khalifa expressed confidence in the country's economic trajectory. He stated that the latest indicators highlight the considerable progress made by Qatar's economy, especially in non-hydrocarbon sectors. He emphasized that these sectors have recorded impressive growth, showcasing the growing diversification, stability, and maturity of the Qatari economy. Al Khalifa reiterated that the current growth trajectory reveals the vast untapped potential that Qatar aims to realise through the full implementation of the Third National Development Strategy. He further emphasised the government's intention to continue building a sustainable and future-ready economy that unlocks unique investment opportunities for the private sector and ensures long-term prosperity for the nation.
ILoveQatar.net
01-07-2025
- Business
- ILoveQatar.net
Qatar's economy continues sustainable growth of 3.7% in Q1 2025
The National Planning Council (NPC) has announced GDP data for the first quarter of 2025, with Qatar's economy registering real GDP growth of 3.7% compared to the same period in 2024. In a press release, the NPC said GDP at constant prices reached QR 181.5 billion in the first quarter of 2025, compared to QAR 175 billion in the same quarter of the previous year. These results indicate strong progress towards achieving sustainable growth, built on diversifying the economy beyond hydrocarbon activities and increasing the contribution of the private sector in accordance with the Third National Development Strategy (NDS3) and Qatar's National Vision 2030. To provide a more accurate reading of the national economy, the National Statistics Center, within the National Planning Council, deployed an updated methodology for calculating GDP, and has revised quarterly GDP data for the period between 2018 and 2024. The revisions in the methodology revolved around updating indicators for different economic activities, and introducing other advanced calculations that align with international standards for measuring output. Data issued by the National Statistics Centre highlighted the results of national efforts in strengthening the non-hydrocarbon economy, whose contribution constituted 63.6% of real GDP for the first quarter of 2025, around QAR 115 billion, a growing share compared to the 62.6% figure in the same period in 2024. The non-hydrocarbon economy is delivering accelerated year-on-year growth of 5.3% in the first quarter of 2025 compared to the same last year reflecting the ongoing expansion of various economic activities away from the traditional reliance on hydrocarbon related activities. The growth of the non-hydrocarbon economy by 5.3% in the first quarter of this year is attributed to the growth in the manufacturing sector which increased by +5.6%, the construction sector +4.4%, the real estate sector +7.0% and the wholesale and retail trade sector +14.6%. Significant increases were also recorded in relatively smaller parts of the economy including the accommodation and food services sector +13.8%, and the transport and storage sector +3.5%, demonstrating broad-based growth and continued growth in tourism activity in the State of Qatar. The continued and consistent growth of the non-hydrocarbon economy in the first quarter of 2025 demonstrates the effectiveness of the State's policies and reforms in improving the business environment and providing opportunities to the private sector. It also demonstrates strong commitment of both public and private sectors to invest in the local market and drive growth through the implementation of the Third National Development Strategy, in line with the economic diversification roadmap set out by Qatar's National Vision 2030. Non-hydrocarbon growth was not limited to manufacturing and production activities, service activities also witnessed growth compared to the same period in 2024, professional including scientific and technical activities +7.2%, human health and social work +2.6%, and the education sector +0.1%. Service activities continue to be a priority for government and these growth rates demonstrate an intensification of efforts to enhance quality of life and human capital in Qatar, and continually increase Qatar's global competitiveness. Despite the volatility facing the global economy and its potential impact on oil and gas prices, growth in hydrocarbon activities continues, now accounting for 36.4% of Qatar's real GDP, around QR 66 billion, with a growth rate of 1.0% compared to the same period of 2024. These figures reflect continued strong demand for Qatari hydrocarbon products, as well as the resilience of the Qatari economy in the face of global economic challenges. Commenting on the latest GDP figures, HE Secretary General of the National Planning Council Dr. Abdulaziz bin Nasser bin Mubarak Al Khalifa said: "These indicators highlight the progress of Qatar's economy, particularly in terms of non-hydrocarbon economic growth, whose activities have recorded remarkable growth, demonstrating greater diversification and stability for Qatar's economy as the State continues to strive to build a sustainable economy. The current growth rates also indicate additional opportunities for development, as there remains significant potential that we seek to unlock through the Third National Development Strategy to continue to build sustainable economic growth that offers unique investment and entrepreneurial opportunities for the private sector."
