Qatar’s construction sector is growing at a faster pace following the massive development projects being implemented in the country in line with the State’s efforts to meet the goals of Qatar Vision 2030 and the hosting of the FIFA World Cup 2022. The government has earmarked nearly QR200bn for the construction of key projects in transport, infrastructure and other sectors.
“The state’s commitment to supporting the construction sector has contributed to positioning Qatar as one of the fastest growing markets in the region and the world,” Minister of Economy and Commerce H E Sheikh Ahmed bin Jassim Al Thani said after inaugurating the 15th edition of Project Qatar 2018 exhibition. The huge participation of companies from across the world in Project Qatar reflects the strength of Qatar’s economy.
The exhibition plays an important role in cementing and strengthening bridges between government officials, businessmen, investors, entrepreneurs, buyers and suppliers involved in the construction sector. More than 280 international exhibitors from 21 countries and 126 local companies are participating in the international trade exhibition for construction technology, building materials, equipment and environmental technology sector.
Qatar’s economy is expected to witness a robust growth which is likely to be highest in the region. The Minister said that the World Bank expects the Qatari economy to be most developing economy in the region with a growth rate of about 3 percent. The economy has seen continuous growth after the opening of new markets and channels of communication with the outside world to support growth.
Public Works Authority (Ashghal) highlighted the key projects under way and in the pipeline, including the implementation of more than 100 roads and infrastructure development projects this year and next. Ashghal President Dr. Eng. Saad bin Ahmed Al Mohannadi said that Ashghal’s participation comes within the framework of the Authority’s keenness to present the projects it has completed and review its current and future projects to open the door for all parties to participate in its implementation. He said that infrastructure and roads projects are being completed as per schedule and has not been affected by the siege.
It must be mentioned that Ashghal has, this year, put in place a plan to produce a number of materials locally, including cement and steel, in addition to recycling others such as asphalt, in order to avoid the effects of the siege and achieve self-sufficiency. Abdullah bin Hamad Al Attiyah, Assistant to the President of the Public Works Authority, said that more than 90 percent of the World Cup-related projects will be completed this year, adding that the Orbital Road project, which extends 190km, with 21 intersections will also completed this year.
Exhibitors across the globe are queuing up to participate in events like Project Qatar to be part of Qatar’s growth story. This indicates the confidence of companies and investors in Qatar’s growing economy.
