Mega transport projects like a city metro, light rail system and more extensive bus networks are under active consideration to ease road congestion in Greater Doha .
“Mass-transit options, such as Doha metro, light rail system and more extensive bus networks are under development,” says ‘The Report: Qatar 2009’ which is due to be released here on June 2. In addition, the railway system is being significantly expanded and could eventually form an integral part of a GCC-wide network linking all the Gulf states, says ‘The Report’ published by the Oxford Business Group.
And Qatar’s crucial economic diversification effort is meeting with great success led by expansions in real estate, financial services and industry, among other sectors. Statistics show non-hydrocarbon growth was up by an impressive 27.1 percent in 2007, compared with oil and gas sector growth of 23.7 percent.
The aim of the non-energy sector accounting for 80 percent of the economy seems set to be achieved by the targeted deadline of 2015, suggests the report.
New developments are popping up countrywide but a shortage remains likely as it is estimated that by 2010 there will be demand for 250,000 residential units, while supply will have reached 244,000 in a best-case scenario.
While the government is still the leading force in overall economic development, it is encouraging the private sector to play a stronger role while bringing increased focus to small and medium-size enterprises.
With strong fundamentals and aggressive government commitment to development, Qatar can afford to look forward to 2009 with more confidence than most.
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