Qatar has selected medium term projects with a value of QAR 53.9 billion (USD 14.8 billion) as part of the strategic plan by the Ministry of Finance (MoF) and the Public Works Authority – Ashghal to prioritise public spending.
A list of new projects has been selected and will be awarded between 2021 and 2024. The public spending in projects under the strategic plan will amount to QAR 5.9 billion (USD 1.6 billion) in 2021 with QAR 9.1 billion (USD 2.5 billion) in 2022, QAR 11.5 billion (USD 3.15 billion) in 2023 and QAR 27.4 billion (USD 7.5 billion) in 2024 and beyond.
Ashghal will supervise 88% of the projects with a value of QAR 47.5 billion (USD 13.0 billion). It includes QAR 35.2 billion (USD 9.7 billion) for development of existing areas and new citizen’s lands with projects in 13 regions in the first phase and 19 regions in the second phase, QAR 5.8 billion (USD 1.6 billion) for maintenance, QAR 4.9 billion (USD 1.4 billion) for drainage and estuaries to prevent flooding, improvements to water treatment and pumping plants and updating drainage networks and QAR 1.6 billion (USD 440 million) for the enhancement of roads and public spaces.
The remainder of 12% of the projects with a value of QAR 6.4 billion (USD 1.8 billion) will include QAR 2.2 billion (USD 600 million) for requirements of the Ministry of Interior (MoI), Ministry of Foreign Affairs (MoFA), Ministry of Sports & Culture (MSC), Qatar Museums Authority (QM), Economic Zones Company - Manateq and Others as well as QAR 2.1 billion (USD 575 million) for the Ministry of Municipality & Environment (MME), QAR 1.1 billion (USD 300 million) for Hamad Medical Corporation (HMC) and QAR 1.0 billion (USD 275 million) for the Ministry of Transport and Communications (MOTC).
In line with the strategic plan, the MoF will evaluate the completed projects based on value and impact in order to ensure the most effective and efficient utilization of the financial resources and to adjust or amend the economic plans of the country. Further, it is aimed and intended to insure the participation of the private sector.
Please click on the link and reach out to learn more about the initiatives of the most relevant stakeholders in the State of Qatar and Business Start Up Qatar.
The State of Qatar is ranking ninth on the list of top countries for entrepreneurs according to the National Entrepreneurial Context Index (NECI)...Read more
The State of Qatar is a very promising investment market according to a recent report by The Investment Promotion Agency Qatar (IPA Qatar).
The report “Invest Qatar Annual Report 2021”...Read more
Qatar’s foreign merchandise trade balance increased by 171 percent in November 2021 compared to November 2020 according to the latest figures released by the Planning and Statistics Authority...Read more
A webinar hosted by the Qatar Financial Centre (QFC) and titled “Exploring Tender Opportunities at the Supreme Committee for Delivery & Legacy” discussed the potential for businesses and projects related...Read more
The State of Qatar is expected to invest more than QAR 113.15 billion (USD 31 billion) into large-scale projects this year. The estimation is in line with the country’s QAR 47.45 billion (USD 13 billion)...Read more
Qatar’s plans to expand the Liquefied Natural Gas (LNG) capabilities and capacities promise a major boost to the growth of the national economy. The expansion results in a projected surplus between 2021...Read more
Qatar’s budget for the first quarter of this year was exceeded by QAR 200 million (USD 54.8 million). The surplus is partly related to the most recent increase in the oil prices, the level of budgetary...Read more
Qatar has witnessed a lot of investment in the digital sector in line with the digital transformation of the country and the establishment of a knowledge-based economy as set out in the [Qatar National...Read more