Qatar National Vision 2030

Economic Development

Pillar 3 / Economic Development

The Economic Development pillar serves as a cornerstone of sustainable progress, recognising that a resilient, diversified economy is the driving force behind the nation’s long-term prosperity and global competitiveness.

About Economic Development

This pillar envisions a dynamic and sustainable economy built on innovation, diversification, and resilience, driving national growth and global competitiveness.

It emphasises fostering entrepreneurship, attracting investments, supporting a skilled workforce, and leveraging Qatar’s resources to ensure long-term prosperity.

Achieved to date

01 – First National Development Strategy (2011 - 2016)

Ranked 18 out of 138 countries on the WEF’s Infrastructure Index
Accounted for 67%+ of non-oil sector contributions to GDP in 2017
Raised Qatar’s trade balance to QAR137 billion in 2017
Increased the productive capacity of natural gas to 30%
Developed new industrial areas and special economic zones
Finalised draft Public-Private Partnership (PPP) Law, with several PPP-based projects initiated in the education, health and tourism sectors
Expanded fiscal policy by USD125 billion for construction and energy projects.
Increased public investment spending, particularly in infrastructure, health and education projects.
Maintained strong credit ratings.
Enhanced regulatory framework for financial institutions.
Built 2,200+ kilometres of new roads, including highways, parking spaces, bridges and flyovers
Opened Hamad Port with a capacity of 2 million containers per year
Inaugurated Ruwais Port for regional maritime trade
Expanded air traffic with the new Hamad International Airport, growing passenger numbers to 37 million, up from 23 million, per year
Launched a joint e-system for government procurement

02 – Second National Development Strategy (2018 - 2022)

Ranked 14 out of 63 countries in the Global Competitiveness Index in 2018
Achieved an average annual growth of 5%
Launched National Food Security Strategy 2018 – 2023
Jumped in ranking from 22nd in 2018 to 13th in 2019 in the Food Security Index (first in the region among 22 Arab countries)
Doubled the number of e-services
Increased online transactions by over 400% between 2014 and 2020
Implemented reforms to attract more FDI with enhanced investment laws and regulations
Increased investment in research and development
Expanded tourism infrastructure, including the launch of the first phase of Qatar Rail in 2019

03 – Third National Development Strategy (2024 - 2030)

Achieve annual non-hydrocarbon GDP growth of 4%
Sovereign credit rating of AA/Aa2 with stable outlook
Annual labour productivity growth of 2%
Leverage the private sector to provide services and drive growth
Achieve an annual fiscal surplus of 5.5% of GDP
Achieve a top 10 rank in business environment and top 10 in digital competitiveness
Achieve 6% CAGR in SME contribution to non-hydrocarbon GDP
Be among the top 30 countries in the Global Innovation Index
Attract a net FDI of USD 100 billion
Attract 6 million visitors annually
Establish Qatar as a tourist destination worldwide
Become among the top 10% on the Government Effectiveness Index
Achieve 85%+ satisfaction with government services
Digitise 90% of government services end-to-end
Increase high-skilled jobs in the economy
Further reduce dependence on the hydrocarbon sector by develop new economic sectors and industries

Economic Development

Progress by Numbers

Below are some of the key indicators of progress achieved during the first, second and third national development strategies aimed at realising the Qatar National Vision 2030.