Officially known as the State of Qatar, the country is ruled by His Highness Sheikh Tamim Bin Hamad Al Thani, the Emir.
Qatar is a peninsula situated towards the South-West of the Arabian Gulf, and is bordered by Saudi Arabia through a land passage at its south-western borderline; the country gained its independence from Britain on September 3, 1971.
The Economy:
The country is rich in gas and oil reserves, ranking it third on the list of the world’s biggest gas reserves owning countries third to Russia and Iran. Qatar’s economy depends largely on its output of the gas exploration and exportation processes, and represents over 50% of the GPD and over 70% of the Governments net profits. Over the past few years, Qatar has witnessed the establishment and start of production of many industrial plants that add to the development of the country and at the same time attracts qualified human workforce from Qatar and around the globe.
Qatar has quickly become a huge economic hub as a result of the Emir’s directives of fully utilizing the gas and oil resources of the country for the welfare of its citizens, by means of integrated processes of oil and gas exploration and industrialization. The oil reserves in Qatar are estimated about 15 billion barrels, while the reserves of gas mount up from 80 to 800 trillion cubic feet. The industrialized products depending on the gas and oil output, ranging from petrochemicals to other high profile oil refining industries have gained Qatar international attention and credit as a fast growing economic center, and has ranked it second in GPD per capita around the world.
However, despite the fact that the major source for revenues in the country comes from the exports and petroleum based industries, the country represented in the government is seeking to find alternative economic solutions by encouraging private small and major businesses , with investments in infrastructure, education and financial services all representing integral paths that pave the way for Qatar to be a regional center for economy and trade.
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