Qatar - Economic development



Qatar follows a policy of diversifying and extending its industrial and commercial activities to reduce the current dependence on oil. Infrastructure, heavy and light industry, agriculture, and fishing have all been development targets. The Industrial Development Committee encourages investment and supervises industrial growth. The government also uses surplus oil revenues on the international money market to protect the purchasing power of those revenues. Qatar in the late 1990s launched some major/minor projects worth about $7 billion: LNG plant expansion of the present fertilizer and petrochemical plants, aluminum smelter, Al Wusail power/water desalination plant, new Doha international airport, and upgrading and expansion of the offshore oil fields. Foreign investment in Qatar's oil sector and industrial projects is estimated to have reached $10 billion since 1992.

Qatar has extended economic assistance to other Arab states, to other developing nations, and to Palestinian organizations.

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