Doha, November 12 (QNA) – Qatar will be investing around (US$140 Billion) in infrastructure projects over the course of the coming five years, HE Yousuf Hussein Kamal, Minister of Economy and Finance of the State of Qatar said Monday.
In a speech inaugurating the Middle East and North Africa Investment Management Forum here today HE the Minister said this will happen in the event the total investments in infrastructure projects exceeding (US$200 Billion.) over the next ten years.
He said Qatar is now focusing its investments in the infrastructure projects including the new airport project, the first phase of a railway station plan, as well as education and social development sectors’ plans, in an effort to put a long-term investment strategy into action.
HE said that well-examined financial planning is the secret behind maintaining a long-term investment strategy in this matter.
HE Minister of Economy and Finance praised Qatar’s development experience, noting meantime that all the country’s investments will not only benefit Qatar but the entire region as well.
He said Qatar’s future railway project which will be the world’s largest, the new airport project, and the city of Lusail project that will be embracing 200,000 people are all good examples of the country’s infrastructure investments.
HE the Minister Yousuf Hussein Kamal noted that the national economy has recorded a two-digit annual growth over the past two decades, where the GDP reached 14.1 percent by year 2011 and recorded a 36.3 percent increase at the nominal GDP being endorsed by the growth of the Hydrocarbons products sale.
HE the Minister noted that the country is looking beyond domestic investment with Qatar Investment Authority and its subsidiaries that look forward to forming a well-picked portfolio of assets to achieve a diversified economy.
HE noted that the of investments world is changing and increasingly becoming two-way investments.
He said Qatar and the GCC countries are now attracting investments in education, health, industry, technology and financial sectors rather than only being capital exporting countries.
HE Minister of Economy and Finance expects the economic growth to rise constantly according to the international standards despite this year s slow movement.
He said Qatar will contribute to the development of the global finance and economy within the upcoming 30 years.
He stressed Qatar s keenness to stay committed to its global and regional responsibilities and continue its success in sustainable development. (qna)