Presentation Transcript

1. By Abdulaziz K Al-Kuwari 8C
2. To start, there were four pillars that have been focused on for future innovation and development. They were human, social, economic and environmental. Out of the four, I have chosen 'economy'. Economy basically means the wealth and resources of a country or region especially in terms of the production and consumption of goods and services. In the case of Qatar, it was historically dependent on a fishing and a pearl diving industry. When the first oil reserve was discovered in 1939 and the largest gas reserve in 1971, there were prosperous plans for Qatar in the future which led to us today. 70% of Qatar's economy is dependent on the export of hydrocarbon products. The Qatar 2030 vision aim to make a smart maneuver to avoid the possibility of threatened future generations to the inability to expand the economy to different sectors like education and health. Pillars are the fundamental parts which keeps up Qatar with its reputation if it is well-maintained because they outline the sectors in which Qatar could improve and give out smart solutions and possible suggestions for improvement. They seek to aid Qatar in the future with a vision.
3. The development and prosperity of the economy and the gradual improvement in the livelihoods is based on the Qatar’s flourishing economy. Intelligent and wise managerial skills are required to manage the exhaustible resources to sustain these resources for the coming generations to meet their needs, thus leading to a prosperous future. A balance between the usage of natural resources and the production can only be maintained by a responsible management while also maintaining a balance between diversity in the economy and exhaustion of non-renewable hydrocarbon resources. A sustainable development and progress can be assured through the usage of Qatar’s rich hydrocarbon resources. Conversion of these natural resources to financial assets provides means to develop the infrastructure, developing the transportation system, develop highly skilled and productive labour force while also creating a support system for the entrepreneurship and innovative abilities. If the Qatar’s economy is developed and progression is attained then they will open pathways for further developments by creating opportunities for diversifying the Qatar’s economy and by upgrading its position to a regional hub for knowledge and valued services and service activities.
4. The reliance on the hydrocarbons industry can be gradually reduced that leads to a diverse economy by improving the private sector’s role and its ability to compete by: The development of a knowledge based economy which is specifically characterized by the aspects of innovation, entrepreneurship, educational standards, an excellent infrastructural support, effective public services provision with transparency in the government services. Expanding the industries and its services – to gain a competitive advantage with the help of the hydrocarbon industries. The economic activities of Qatar can be planned and developed in which Qatar can specialize while fulfilling the technical and the human aspects of the economic activities.
5. As far as I know the government has done a well job at gradually diversifying the economy far enough to make hydrocarbon resource export become 70% of the revenue. I think that it is very likely to reach its goal to diversify the economy since the emir founded the Qatar foundation which had education city. This includes universities ranging from engineering professions, medical professions to journalism, international politics, economy, business administration and computer science. This helps transform Qatar to a knowledge-based economy. Other plans are being made to diversify the economy, one of them is tourism. Ahmed Abdulla Al-Nuaimi is planning on investing $17 billion in the tourism sector. ShiekhNawaf bin Jassem bin Jabor Al-Thani is prospering in the hotel business as the country seems to attract visitors for its year round sunny weather and traditional arab hospitality. Plans are being made for international investments of hotels, properties, buildings. At this moment the QNH’s portfolio consist of properties from Spain,France and England. Qatar has been blessed with huge reserves of natural resources, including the 200 years worth of natural gas, on which the whole economy can easily rest. On the contrary, the government is seeking ways to diversify Qatar’s economy and develop its domestic infrastructure.The primary priority is investing in Qatar where its initial investments are present such as the development of Lusail community, Doha’s natural extension, while Qatari Diar is an established project in other parts of the world. The Lusail has managed to attract front page headlines while the Qatari Diar is attracting more media attention via its international developments and acquisitions. When the 2022 World Cup happens, Qatar will have already spent billions on the project which might overshadow the “knowledge-based economy” ambition as it limits the money available which might cause delays to some sectors in diversifying the economy, especially the sectors which have not been worked on other that medical, educational and tourism sectors.
6. A balance between the natural reserves and the production can be maintained by the maximum and efficient utilization of the natural reserves of hydrocarbons, thus also maintaining a balance between the diversity in economy and the reduction of these resources. The oil and gas exploitation can also lead to the increased opportunities of technological advancements which in turn help in the development of human resources in Qatar. Qatar and the other countries of the world can be provided with a pollution free source of energy through the development of the gas industry. The security requirements of the country and the constant development process can be met through the maintenance of the natural reserves of the oil and gas.
7. In my opinion, it is difficult for Qatar to transfer from being an Energy-Based economy to a Knowledge-Based economy since Oil and Gas account for about 70% of Qatar’s revenue. It would be a great idea if the economy was diversified and then slowly transitioning to a knowledge-based economy when the hydrocarbon resources run out. Providing clean energy resources for the country is a smart solution as it prolongs the availability of the hydrocarbon resources, reduces carbon dioxide emission and pollution, as well as efficiently using energy in Qatar since the sun’s energy is abundant for the use of solar energy and solar batteries. This is easily accomplished as it has enough money for this potential project. This will give time for the government to fully discuss and negotiate a better solution for the future economy of Qatar. I think that the world cup which will occur in the year 2022, will have a propitious effect on this plan since the stadiums will harness the power of solar energy coolers which is free from fossil fuels and pollution. This will cause a lot of publicity and might cause some people to petition or the government to consider replacing a portion of the energy resources in Qatar wilth solar panels, solar batteries. This delays the depletion of hydrocarbon resources which is why the World Cup 2022 plans are advantageous.
8. To ensure elevated living standards for the current generation and the future through reasonably sustained economic growth rates. To ensure a secured financial system with efficiency through stability in the financial sector which are characterized by low inflation rates. To attract foreign funds and technologies and also encouraging the local investors to invest through the creation of a stimulating business climate. Increasing the ability of competing with the rapidly changing world through flexibility and openness in economic structures. Ensure trade, investments and financial relationships through coordinating with the Gulf Cooperation Council States and the Arab and Regional economic organizations.
9. In my opinion, Qatar has the potential in securing a high standard of living for future generations if the economic growth is properly sustained and reasonable. I feel that the low inflation rates is difficult to achieve since there was a sharp rise in the inflation rates over the past decades. This is achievable through dedication, cooperation of the nations and by slowing down the growth in the money supply. I believe that the more money that a country has, the lesser the value which contributes to the progressive inflation. Cooperating with the Gulf Cooperation Council and with other Arab regions to establish trades, financial ties and investments will substantially boosts Qatar’s economy as it makes Qatar less dependent on Oil and Gas export and gain more money from successful investments, wise trading and able to secure the people’s standard of living. This can be achieved easily since the other nations of the GCC are have a strong relationship with each other and thus able to go with the plans through negotiation and persuasion. This plan could result in beneficial outcomes after the 2022 World Cup because the world Cup attracts tourists from all over the world which encourages merchandise exports, trades and financial ties with the Gulf Cooperation Council. The economic growth rates will be aided by the income raised from the accommodation of tourists, merchandise bought, money spent and productivity of the work force in Qatar which will hopefully improve by 2030. Major companies like Coca Cola and Adidas will likely to sponsor the World Cup, advertising their products. FIFA and Qatar will earn money which speeds up the plan. Encouraging local investors to invest in creating a stimulating business climate will be easier during the world cup as they will invest more in construction, players, merchandise, real estate, auctions and other similar sectors which will boost Qatar’s economy through the increasing income and overall GDP revenue.
10. When hosting events, there is always a financial risk involved in terms of airports, roads, stadiums, public transportation, etc.; for instance, in the case of Athens hosting the Olympic games in 2004, the budget experienced an increase from US$1.6 billion to US$16 billion, in case of Beijing in 2008 the budget experienced an increase from US$1.6 billion to around US$40 billion, while the price tags in London soared from US$5 billion to around US$20 billion in the 2012 games. The South African games have spent US$5 billion and FIFA US$1.1 billion so far on the preparations before the initiation of the 2012 World Cup. A million dollar investment has been made on the hotels, small businesses, souvenir shops, tours and the transport system in the FIFA tournament. Generally, the finance generated from the tourists. This is clear why the hosting the World Cup could mostly improve the plans for the 2030 National Vision with some minor potential disadvantages as I have explained in the previous slides.
11. “Economic Development Pillar” General Secretariat for DevelopmentQatar 2030 National Vision. PDF. 26 Mar 2011, Qatar Plan,http://qataracademy.org/course/view.php?id=263&week=27 . "Economic Development Pillar (2030 National Vision)." General Secretariat for Development Planning. Web. 29 Mar. 2011. <http://www.gsdp.gov.qa/portal/page/portal/GSDP_Vision_Root/GSDP_EN/What%20We%20Do/QNV_2030/Economic_Development>. "Economy of Qatar and Business Economic Development of Doha Qatar." Qatar Travel and Information Guide - Doha Hotels Real Estate Jobs. Web. 29 Mar. 2011. <http://www.onlineqatar.com/info/qatar-economy.aspx>. Khong, Andy. "Benefits of Hosting World Cup Soccer." EzineArticles. Web. 28 Mar. 2011. <http://ezinearticles.com/?Benefits-of-Hosting-World-Cup-Soccer&id=4413027>. "QATAR: Investing in the Future." Forbes Custom: Home. Web. 29 Mar. 2011. <http://www.forbescustom.com/qatar/index.html>.