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Oil-rich Qatar plans major shifts to diversify its economy
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SPECIAL TO WORLD TRIBUNE.COM
Tuesday, March 20, 2007
LONDON — Qatar plans to move away from energy exports as the
emirate's main source of revenue.
Officials said the emirate has drafted a plan that would develop
non-energy industries in Qatar. They said that within a decade the
non-energy sector would account for the lion's share of revenues.
"Our goal is that the non-energy sector must account for about 80
percent of our GDP by 2015," Qatari Finance Minister Yusef Hussein Kamal
said. "It is not going to be easy, but we are working on that."
On March 15, Kamal told the Finance and Investment in Qatar conference
in London that the emirate would maintain double-digit growth until 2012. He
warned that foreign investors must commit to long-term relationships and
help diversify the Qatari economy.
Copyright © 2007 East West
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