Nabeel Mohammed AR al-Buenain, left, at a session of the Bloomberg Doha Conference yesterday.
By Yash Mudgal/Staff Reporter
Eminent speakers at the Bloomberg Doha Conference yesterday said that the infrastructure Qatar is creating for the FIFA 2022 World Cup will not only ensure a successful tournament but will also be beneficial for the country in the years beyond the mega event.
The speakers at the conference were from various fields, including engineering and finance. The experts analysed the fast-growing infrastructure and its influence on consumer economy in view of the World Cup.
Nabeel Mohammed AR al-Buenain, project executive director of New Doha Port Project, who was a panelist to discuss Qatar’s 2022 World Cup infrastructure, said: “The World Cup will stay for two or three weeks but Qatar and its infrastructure will stay for longer to serve the country and the region.”
He also added that transparency in the planning and execution stages of development will ensure smooth operation and utilisation of the infrastructure after the mega event. “There will be new stadiums, sports clubs, hotels and other entertainment centres across Qatar. The entire nation will be developed in several ways, and the entire economic infrastructure of Qatar will be upgraded and polished,” he said.
The strong economic performance of the Qatari economy in recent years has also been accompanied by a progressive and far-sighted investment in the country’s infrastructure. Infrastructure work worth around $140bn will be completed within 10 years with some $80bn of this already
underway.
Al-Buenain also said that Qatar’s relationship with sports, culturally and from an investment perspective, is a big achievement. “The enormous projects being undertaken in Qatar for the FIFA World Cup have benefits that extend far beyond its
borders.”
An estimated budget of $24bn has been earmarked for these projects, most of which will be completed in time for the World Cup.
“A sustainable investment is also being made in the country’s transportation infrastructure which will see the introduction of extensive and integrated metro and rail network system, and which will ultimately be connected to the other Gulf states,” al-Buenain said.
The Qatari planners have already decided to launch a staggering 200 projects in several areas in the next couple of months, as these ventures will headstart the preparations for the World Cup.
Dr Tarek Coury, chief economist at Tanween, said: “Qatar is a unique and innovative destination to host the World Cup. Development, infrastructure and financing are some of the key components in the run-up to the event. The World Cup will be another shining example of Qatar’s strong tradition of generous hospitality and effective event management. Qatar is no doubt on the growth path, and the World Cup will bring in more economic development
and growth.”
