The Business Year Commercial Bank Of Qatar

Founded in 1975, Commercial Bank of Qatar is the second-largest conventional bank in the country. In 2021, the net profit of the bank amounted to QAR2.3 billion, up 77.1% compared to 2020. This special report includes seven exclusive interviews with representatives from the bank's key personnel, focusing on the main features, such as digitalization, that have made CBQ one of the most dynamic financial institutions in the Qatari market. Additionally, given Qatar's imminent hosting of the FIFA World Cup 2022, the words of the featured banking professionals address what Qatar's future could be like in its aftermath, which will be marked by the development of the North Field Expansion project, expected to take Qatar's LNG production capacity from 77 million tons per an-num (MTPA) to 126 MTPA, as well as by the realization of Qatar National Vision 2030.

2020 will forever be remembered as the year that the COVID-19 pandemic mercilessly hit the world, leaving a trail of loss both human and economic. Qatar has managed to limit its economic decline to a reasonable 2.5%, emerging as the top performer in the GCC. The IMF also expects the economy to expand 2.7% in 2021. Resilience and diversification have been buzzwords in Qatar for some time, yet never have they taken on so much meaning. This 184-page publication aims to provide a platform for the country's decision makers at a time of global uncertainty and act as a guide for investors looking seriously at the Gulf economy. It covers sports, finance, energy, industry, transport, ICT and media, construction and real estate, food security, health and education, tourism, and retail.

Qatar's road to diversification is paved with ambitious investment programs in a host of sectors, such as agribusiness, IT, and food security. These investment programs and the trends and challenges shaping the Qatari economy are covered in great detail in The Business Year: Qatar 2020, our sixth publication dedicated to the country, produced in partnership with the Ministry of Commerce and Industry and the Qatari Businessmen Association. Over the period of our fact-finding, time and time again we were struck by the positive approach of the different stakeholders to tackling the blockade introduced in 2017. Investors looking to understand the major trends and key players in the Qatari economy will find what they need within the pages of this publication. The Business Year's country-specific publications, sometimes featuring over 150 face-to-face interviews, are among the most comprehensive annual economic publications available internationally.

While conducting research for The Business Year: Qatar 2024, our primary focus was on the country’s competitive strengths and how it plans to build upon the legacy established by hosting the world’s most-watched sporting event, The World Cup. As Qatar aspires not only to maintain its status as a trusted host for international events, but also to emerge as the driving force behind a flourishing global economy, we believe that this 220-page publication will serve as a vital tool for anyone seeking to engage in business endeavors in Qatar. Through this 220-page publication, featuring interviews with top business leaders from every major sector of the economy, as well as a range of articles and analysis, we present a comprehensive snapshot of the Qatari economy and the investment environment at this crucial period.

The Business Year: Oman 2024, produced in partnership with the Ministry of Commerce, Industry and Investment Promotion, is a key guidebook to the dynamic and rapidly evolving business landscape of Oman. As the nation continues to navigate its Vision 2040 objectives, recent developments have underscored its commitment to economic diversification and sustainable growth. From transformative infrastructure projects to the burgeoning tech sector, Oman is embracing innovation while honoring its rich heritage. This issue delves into the strategic initiatives driving these changes, offering a comprehensive overview of the country's economic trajectory. In this edition, we bring you exclusive insights from the minds shaping Oman's future. Our interviews with top business leaders provide a nuanced understanding of the challenges and opportunities within various industries. These conversations reveal the strategic thinking and forward-looking policies propelling Oman towards a prosperous and resilient economy. Through detailed analysis and expert perspectives, we aim to provide our readers with a thorough understanding of Oman's business environment, highlighting the key trends and developments that are setting the stage for the next phase of growth.

2013 saw the transition of power from the former Emir, Sheikh Hamad bin Khalifa Al Thani, to Sheikh Tamim bin Hamad Al Thani, his fourth son and second son with Sheikha Moza bint Nasser, a move unprecedented elsewhere in the Gulf but not unexpected in Qatar. With sustained, long-term economic growth, the highest per capita income in the world, a stable and well-capitalised banking sector, a sovereign wealth fund that is of true global significance and one of the largest reserves of natural gas just offshore, Qatar today has many advantages. It is clear that the country is in a strong position from which to continue its robust economic performance, and the years ahead will see a vast construction drive, in line with the principles of Qatar National Vision 2030 and catalysed by preparations for the 2022 FIFA World Cup. Oil and gas accounted for around 51.5% of Qatar’s economic output in 2013, while developing downstream facilities that add value to energy by-products, for example, has helped build a portfolio of petrochemicals, chemicals and fertiliser companies and looks set to see Qatar’s economic strength continue. With more than $222bn of projects in the pipeline, the construction sector’s growth has been forecast at 15% for 2014, while spending on infrastructure is set to reach $150bn in the run-up to the 2022 FIFA World Cup. Against this backdrop, Qatar looks set to continue offering a wide variety of opportunities for foreign investors.