Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Qatar to cut reliance on O&G by 20pc in 2011

The Sate of Qatar intends to cut its dependency on oil and gas revenues by 20 percent as early as the year 2011, as part of the State's ambitious plans to diversify resources and revenues-generating industries, Qatar's Minister of Finance and Acting Minister of Economy H E Youssef Hussain Kamal told the Banker Middle East Magazine in an exclusive interview.

 

"We are planning to establish several free zones and industrial areas by 2016, where foreign and local companies and business would find all necessary infrastructures to prosper," H E the Minister explained.

 

"The growth the sector of financial services has recently witnessed was one of the primary reasons for establishing Qatar Financial Centre (QFC), which has entered a fierce competition to become number one in the sector in our region, aspiring to reach the level of similar centres in New York, London, Frankfort, Hong Kong and Tokyo," he added.

 

His Excellency said that QFC has been into business for two years now with as low as 20 employees to reach 170 today.

 

"This explains the growth rate the centre has achieved in such a short lapse of time, paving the way ahead for a smooth investment environment. QFC has already accredited 62 business licenses and is currently considering another 30," H E the finance minister indicated.

 

The Oil & Gas sector represents 60 percent of Qatar's gross domestic product, 85 percent of its exports returns and 75 percent of government revenues.

 

« January 2018 »
SatSunMonTueWedThuFri
 12345
6789101112
13141516171819
20212223242526
2728293031 
Newsletter Signup
Events & Conferences
 
Advertising Area

Events of January 2018
  Event Organizer From To
1 The Fourth Doha Islamic Finance Conference Bait Al Mashura & Qatar Financial Center 2018 / 01 / 09 2018 / 01 / 09
2 The 2th Q-PEM Hamad Medical Corporation 2018 / 01 / 12 2018 / 01 / 14
3 Expo Turkey by Qatar MC Fair Organization 2018 / 01 / 17 2018 / 01 / 19
4 International Customs Day General Authority of Customs 2018 / 01 / 25 2018 / 01 / 25
5 Heidelberg Conference in Doha Hamad Medical Corporation 2018 / 01 / 26 2018 / 01 / 27