This anticipated growth is in line with Qatar’s drive for diversification and an economy that goes beyond oil and gas. The risks in depending on oil and gas were highlighted by the economic blockade imposed by its neighbours, including Saudi Arabia, the UAE, Egypt and Bahrain from February 2019 till January 2021.
Qatar sidestepped this to a degree by boosting economic relations with non-Arab nations. Its international memberships include: the Non-Aligned Movement; the Organisation of Islamic Cooperation (OIC) and the Organisation for Economic Cooperation and Development.
The Qatar National Vision 2030 (QNV 2030) aims to create a business environment favourable to increased investment in employment, diversification, modernisation and public-private partnerships (PPPs), although the largest companies in Qatar are all state-owned.