Ali Jabsheh Economic Development
Introduction • The Qatar National Plan 2030 foresees development through the following four pillars: • Human Development • Social Development • Economic Development • Environmental Development • What is Economic Development: • Economic development is the increase in the standard of living in a nation's population with sustained growth from a simple, low-income economy to a modern, high-income economy. • In the past people in Qatar had a low income. They used to go diving and fishing for money. After the massive amounts of oil and gas were discovered, Qatar has now one of the fastest growing economies in the world.
Economic Development Outcomes Sound Economic Management
Explanation of each fact Fact 1 • Qatar is growing rapidly, the amount of growth in Qatar is sustained at a level that provides no risk to the country and there is no risk that people will live a low standard quality living. Fact 2 • There is no risk that Qatar will have any economy problems, From the data collected it shows that the economy is growing with very high growth rates. Qatar in 2010 had an economy of 10% but in 2011 it doubled and became 20% Fact 3 . Regional economic (the Gulf) establish trade ties and trade goods and food with each other.
Economic Development Outcomes • 1 • 2 • 3 • Fact 1 • Optimum exploitation of hydrocarbon resources, establishing a balance between reserves and production, and between economic • diversification and the degree of depletion • Fact 2 • A vigorous oil and gas sector that generates advanced Technological innovations and contributes to the development of • human resources and economic capacities throughout Qatar • Fact 3 • A fully developed gas • industry that provides a • major of clean • energy for Qatar and • for the world
Explanation of Each Fact 1-Best Utilization of the Hydrocarbon resources which results in achieving a balance between the production and reserve balances and between the economic expansion and the running down of those resources. 2-A strong Oil and Gas sector that creates and produces highly developed technical innovations that would help in the growth and development of the Human capital and Economic Power throughout Qatar. 3- A complete well structured Gas Industry that gives Qatar and other countries around the world a clean resource and supply of energy.
What developments / changes will have been made in your opinion by 2022 in your chosen section? Qatar will change a lot by 2022. As far as the Economic development, Qatar would by 2022 achieve a competitive and expanded economy that is capable of meeting the needs of all its people. It will be a country with a high standard of living for all its citizens both for the present and for the future. There will be a boom in the Qatari Economy. More investors will be interested in the Qatari projects. Government spending on Infrastructure projects will increase.
Where Qatar will have got in relation to fulfilling their goals of 2030 in the Economic Development.? • By 2030 and through the successful execution of the goals drawn in the QNP, Qatar would have got to a well balanced, advanced state with a strong economy that has one of the strongest Oil and Gas sectors in the world.
How would Qatar have altered its 2030 plan to take into consideration the holding of the World Cup in 2022. • Qatar would have to make some adjustments to its 2030 plan to be able to hold the 2022 World Cup. Since the World Cup would need a lot of funds , Qatar has to reallocate some of the funds for the execution of the world cup projects. This would be an opportunity for Qatar to bring forward some of the 2030 goals, and to try to work at higher pace to quickly launch some of the projects within a new timeline and at a high degree of responsibility.