Qatar
Qatar has been an independent sovereign state since 1971. It is one of the six members of the Gulf Cooperation Council (GCC), the others being Saudi Arabia, the United Arab Emirates, Kuwait, Oman and Bahrain. Qatar comprises an 11,500 sq. km peninsula extending northwards into the Arabian Gulf. It has 563 km of uninterrupted coastline. The country’s population stands at 2.69 million and its capital city is Doha.
Qatar is a relatively small country, but one of the richest in the world with a very high Gross Domestic Product (GDP) per head. This affluent market with its growing population offers opportunities for UK businesses across a wide range of sectors. It has significant oil and gas reserves, and energy production per head dwarfs the other Gulf countries. As oil prices can and do fluctuate, the government is using the revenue generated to diversify its economy.
Qatar has one of the most ambitious infrastructure programmes in the world. It plans to invest up to £140 billion in infrastructure over the next 7 years. Many of these projects are as a result of Qatar hosting the 2022 football World Cup. The Qatar National Vision 2030 is a programme for the country’s economic, social, human and environmental growth over the coming decades. It includes plans to create a balance between an oil-based and knowledge-based economy. Many UK businesses operate in Qatar. Shell’s investment at the Pearl Gas to Liquids (GTL) plant at Ras Laffan is the single largest foreign investment in the country. Ties between the UK and Qatar oil and gas industries are close, with the liquefied natural gas terminal at Milford Haven in the UK, the largest in Europe, majority owned by Qatar Petroleum.
Qatar is a market which requires patience to develop the necessary contacts to successfully win business and a long-term strategy is essential. The outlook remains positive with growth expected to rise to 3.4% by 2021 driven by higher service sector growth as the FIFA World Cup draws nearer. In addition, higher infrastructure spending on Qatar National Vision 2030 projects aimed at diversifying the economy should help offset falling investment spending on FIFA projects. Finally, hydro-carbon sector growth is also expected to pick up as the Barzan natural gas facility comes online in 2020, and as the expansion of the North Field gas projects is completed by 2024.
Benefits for UK businesses exporting to Qatar:There are a number of reasons to choose Qatar as an export destination such as:
Direct exports and sales in QatarDirect sales are possible in Qatar. However, direct marketing is only permitted in certain sectors and in certain circumstances. A reliable local business partner will significantly improve your chances of success in this market and a partner is essential to access government tenders. Franchising is very popular in Qatar, however, a local sponsor is required to establish a franchise business.
More: GOV.UK , BBC
Qatar is a relatively small country, but one of the richest in the world with a very high Gross Domestic Product (GDP) per head. This affluent market with its growing population offers opportunities for UK businesses across a wide range of sectors. It has significant oil and gas reserves, and energy production per head dwarfs the other Gulf countries. As oil prices can and do fluctuate, the government is using the revenue generated to diversify its economy.
Qatar has one of the most ambitious infrastructure programmes in the world. It plans to invest up to £140 billion in infrastructure over the next 7 years. Many of these projects are as a result of Qatar hosting the 2022 football World Cup. The Qatar National Vision 2030 is a programme for the country’s economic, social, human and environmental growth over the coming decades. It includes plans to create a balance between an oil-based and knowledge-based economy. Many UK businesses operate in Qatar. Shell’s investment at the Pearl Gas to Liquids (GTL) plant at Ras Laffan is the single largest foreign investment in the country. Ties between the UK and Qatar oil and gas industries are close, with the liquefied natural gas terminal at Milford Haven in the UK, the largest in Europe, majority owned by Qatar Petroleum.
Qatar is a market which requires patience to develop the necessary contacts to successfully win business and a long-term strategy is essential. The outlook remains positive with growth expected to rise to 3.4% by 2021 driven by higher service sector growth as the FIFA World Cup draws nearer. In addition, higher infrastructure spending on Qatar National Vision 2030 projects aimed at diversifying the economy should help offset falling investment spending on FIFA projects. Finally, hydro-carbon sector growth is also expected to pick up as the Barzan natural gas facility comes online in 2020, and as the expansion of the North Field gas projects is completed by 2024.
Benefits for UK businesses exporting to Qatar:There are a number of reasons to choose Qatar as an export destination such as:
- English is widely spoken.
- There are strong UK-Qatar cultural and historical ties as many Qataris have studied in the UK, have UK homes and visit regularly.
- There is considerable capital spending by the Qatari government on education, healthcare, infrastructure and transportation.
- It is expected to have the highest real growth in the Gulf Cooperation Council (GCC) region over the next few years.
Direct exports and sales in QatarDirect sales are possible in Qatar. However, direct marketing is only permitted in certain sectors and in certain circumstances. A reliable local business partner will significantly improve your chances of success in this market and a partner is essential to access government tenders. Franchising is very popular in Qatar, however, a local sponsor is required to establish a franchise business.
More: GOV.UK , BBC