The World Cup is a long-term driver of sports and leisure tourism
An ambitious plan to diversify and stimulate innovation and a knowledge economy
Enhancing the investment climate and developing the partnership between the public and private sectors
Under the title “Qatar looks beyond the 2022 World Cup finals with the start of a new boom in gas investment,” GlobalData, a global provider of market data and research, said the recent agreement signed by Qatar Petroleum and a number of leading companies in the LNG industry With LNT Marine, ABS, and the Shanghai Shipbuilding Corporation, SWS, to collaborate in developing new designs for large and medium-sized LNG carriers, this is the latest sign of a new boom that is set to contribute to shaping a vision. Future investment in gas in the post-World Cup 2022 phase.
The research institution added in its report that over the past ten years, Qatar’s investment has focused on developing the infrastructure needed to host the FIFA World Cup in 2022, through projects for stadiums, airports, railways and metro, entertainment and hospitality facilities. The World Cup amounted to about $ 13.6 billion annually from project contracts in Qatar over the past decade, and these projects reached their highest levels in the peak years 2014 and 2015, when project levels rose to about $ 20.9 billion and $ 17.4 billion, respectively.
Richard Thompson, managing editor at GlobalData’s MEED, comments on the investment outlook for the future of projects in Qatar, saying: “Part of the answer came on February 8, 2021, when Qatargas awarded a $ 13 billion contract for the main package for the first phase of its mega project to expand the North Field. It is the largest single contract ever awarded in the region, and investments have prompted Qatar to develop six large LNG trains to become the largest gas exporter in the world, “the report indicates that Doha is implementing a tourism strategy. New hopes will transform the one-time boost of economic and political capital for the World Cup into a long-term engine for sports, business and leisure tourism.
Qatar Vision 2030
Thompson continues: “This time, gas projects in Qatar come in parallel with the Qatar National Vision 2030, to implement Doha’s long-term strategy to move away from energy, economic diversification and attract investment.” The plan includes the relentless pursuit of investment in research and development with the hope of stimulating a broader knowledge economy. . Doha is also intensifying its efforts to attract investment through its public-private partnership plans, and Doha issued a new PPP law in May 2020. Doha has also undertaken progressive reforms regarding worker welfare and the sponsorship system, which are essential to the future Qatari economy.