Qatar, which has seen foreign direct inflows of $500mn in the last quarter of 2020, is looking at including more sectors under the public private partnership (PPP) mode, a move that will greatly help in enhancing the attractiveness of the country and trigger the growth, especially in the non-hydrocarbons segment.
Moreover, Qatar, whose underlying theme is economic resilience, is fast becoming a hub for the start-ups and matured companies in the telemedicine looking at scaling up and expansion in the wider Middle East region, said a top official of the Investment Promotion Agency Qatar.
"We are now looking at expanding this (PPP) programme across different sectors," Investment Promotion Agency Qatar chief executive Sheikh Ali Alwaleed al-Thani, told the Qatar Economic Forum, powered by Bloomberg.
A PPP pilot project was launched for the construction of 45 new public schools in Qatar at a capital cost of over $1bn, providing an additional 34,000 student seats.
Ashghal has already introduced Al Wakra and Al Wukair Sewage Treatment Plant (STP) project, to be implemented under PPP model.
According to the Ministry of Commerce and Industry, other projects proposed to be rolled out using the PPP model involve state-of-the-art technologies and industries, such as solar energy-related projects and the construction of storage spaces in the new free zone area. This new PPP law applies across all industries and sectors.
"We believe there are lot of lucrative opportunities" for the projects to be anchored and base out their operations in Qatar and further scale up in the wider Gulf region, he said.
Sheikh Ali said he believes that there is every reason for the PPP to be successful in Qatar because of the country's sound economic fundamentals, fiscal and monetary predictability and effective as well as efficient government.
He said Qatar is increasingly looking at economic diversification and prioritising sectors based on the emerging trends.
"There are many emerging start-ups and other companies looking at Qatar to scale up and expand in the region" especially in the healthcare sector such as telemedicine," he said, adding opportunities are also in the cyber security, sports and sport tech sectors in view of the impending FIFA World Cup in 2021.
At the recently held St Petersburg International Economic forum, the Investment Promotion Agency Qatar had signed three memoranda of understanding with Russian entities, aimed at bolstering the Russian investments across different sectors, including agriculture-technology (agritech), transportation and hospitality, cybersecurity, and IT.