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Qatar. Launch of the “National Development Strategy 2024-2030”.

The Third National Development Strategy 2024-2030 has recently been presented to the public. The strategy is the final step in the journey towards achieving the goals of the Qatar National Vision 2030, launched in 2008, which aims to turn Qatar into a State capable of achieving sustainable development through four key pillars that include human, social, economic and environmental development.

The new strategy will prioritise competitiveness, the strengthening of innovation and the long-term sustainability of the Qatari economy, targeting GDP growth of 4 per cent annually. Declared goals of economic diversification are the development of metal and chemical manufacturing; the strengthening of Qatar’s role as an international logistics centre, as well as in the tourist sector, where it aims to reach 6 million visitors per year. The goals in the area of digital services (for which the aim is 7.8 percent of GDP) and finance are even more ambitious, while the focus is also on social progress through food security, the development of the medical sector, and education as a means of enhancing local human capital and increasing labour productivity. To make the local market more competitive, the government aims to make access to credit easier for private enterprises; to improve, streamline and simplify government services for companies; and to promote free trade agreements that increase trade. Another relevant factor is the reference to increasing funds spent on research, which are expected to double as a share of GDP, both by the public and the private sectors.

Finally, in terms of environmental sustainability, the new strategy will ensure efficient management of the environment and its protection by reducing greenhouse gas emissions by 25 per cent, rationalising electricity and water consumption and increasing production efficiency, and encouraging the transition to more sustainable modes of transport and a circular economy.

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