Qatar is one of the richest nations in the world on a per capita basis. With a population of less than two million people it is one of the smallest nations in the world.
The country may be small, but they have big dreams.
Qatar is currently seeing growth of 20% a year. Hamad bin Jassim bin Jabr Al-Thani, Prime Minister and Minister of Foreign Affairs of Qatar understands that 20% growth is not sustainable but said “five and eight percent is manageable for Qatar for another ten years from now.”
In the past decade, the Qataris have built their wealth from oil and gas assets. Sheikh Hamad points out it’s important to “protect our next generation.” As a result, the government has decided to invest in $30 billion outside Qatar this year, diversifying its assets.
David Hamod, President & CEO of National US-Arab Chamber of Commerce said “Investing in the future is the essence of the Qatar Model.”
Qatar has poured money into education, healthcare and infrastructure as part of its plan to invest in the future.
Sheikh Hamad has allocated at least $70 billion for the infrastructure improvements and said it will take “between five to seven years” to complete the build-out.
We spoke to David Hamod, President & CEO of National US-Arab Chamber of Commerce about the vibrancy in Qatar, hosting the 2022 World Cup and how he expects to continue to grow the trade between the US and Qatar which is up more than 300% since 2003.
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