Qatar has said it is looking at spending $100 billion as it is currently trying to revamp its infrastructure in preparation for the 2022 World Cup. In response to the government of Qatar’s request, the United States government is sponsoring a trade mission to Qatar in June this year. The country has been growing rapidly and is looking to build multiple new stadiums to host the event. The growth potential in this country and for this trip is phenomenal.
Lately, Qatar has been working hard to become a distinct country with a refreshed vision. As a matter of fact, its leadership has begun implementing a plan which will help the country arrive at significant goals and transform by the year 2030. In a conversation between Doug Barry, a U.S.-based International Trade Specialist at the Commercial Service and Dao Le, a Qatar-based U.S. diplomat, some of the opportunities for United States Businesses were outlined.
If the norm at the moment is that countries don’t want to invest in other countries due to the economic downturn and volatile markets, then the exceptions are Qatar and Germany. Currently, the country of Qatar is looking to invest heavily into the exporting powerhouse, and they have the money to do it. As of 2007, Qatar has attained the highest per capita income in the world, primarily through the means of oil and natural gas revenues. So what interests Qatar so much about Germany?
Surprisingly enough, Qatar has its sights set on Germany’s auto industry. The oil giant is primarily concerned with the German brands Volkswagen and Porsche, brands which are very numerous and very popular in the Arab world, especially in the country looking to invest, which had an $80,900 GDP per capita in 2007.
I am a huge fan of pretty much everything that Monocle publishes. They are always on the cutting edge, whether the topic is public affairs, business, or even culture and design. Recently they partnered with UK Trade & Investment to produce a series of videos on the business climate in different sectors and countries around the world. So far the topics have been: Doha, Boston, UK Creative Sector, UK Motorsport, London, São Paulo, Guangzhou, and Sofia.