Qatar's economy is expected to grow moderately in the coming year. The QEA, or Persian Gulf Economic Co-operation Council, is leading the charge. The organization brought together twenty-five nations including all the oil producing nations of the world. Among these nations are the oil producing cartel OPEC and the non-OPEC member states such as the UAE, Kuwait, Saudi Arabia, and the UAE. The purpose of this effort was to raise the value of the currencies of these nations so that they can trade freely with one another. If you have any investments in the currency markets in these nations then you will be happy to know that the value of their currencies has risen over the past few months.
This means that the earnings from the petroleum industry have multiplied. The increase in production has also helped to increase the demand for labor. This has been a major contributing factor to the economic outlook in the QEA. There is an increase in both commercial and residential development taking place in Doha. The infrastructure improvements are being made on a rapid basis.
The infrastructure is being upgraded to accommodate the anticipated increase in population. In addition, the city of Doha has undergone major changes. There is a new airport and a new downtown. Major changes are also occurring in other areas of the QEA. A new consulate has recently been constructed in Qatar. The consul general is in charge of the activities there.
There are a number of large-scale business projects under way in Qatar. Most of these are focused on improving the quality of life for the local residents. A massive convention center is being constructed in Doha. This venue will be used for international trade and tourism. It also will function as the center for the Muslim pilgrimage to Mecca.
The planned construction of a light railway system throughout the country has the potential of creating more jobs. This is a huge investment that will produce more jobs. Qatar's tourism industry will also grow considerably. It has one of the most popular tourist destinations in the world. Tourists spend millions of dollars every year in the country.
Qatar's tax system is well developed. The property taxes are very reasonable. Foreign investors can contribute money to the country without having to pay any kind of income or capital gains tax. In addition, there is no need to register property or accounts with the government. Free trade zones are expanding throughout the country to encourage more economic growth.
In the past, the Burmese currency was widely used in the United Arab Emirates (the UAE). However, the government of Qatar has implemented a new foreign exchange that has a floating rate. This rate will remain consistent with the current currency of the country until the end of 2021. The new currency is valued at three percent above the present value. Residents in the United Arab Emirates will have the opportunity to use the new foreign currency to the trading will be completely complete.
A large number of expatriates from western countries have made investments in Doha since it became aware of the potential of investment through the Economic zone. There are many investors who choose to buy and sell properties. A development in the labor market has created more job opportunities for the Qatars and has created a favorable environment for . . . . . . economic growth. Although there are still many challenges ahead, the residents of Qatar are looking forward to establishing a high quality of life for themselves and their families.
Another important aspect of the planned economic growth is the establishment of a tax-free economy. This has been promoted by both the Government of Qatar and the Dubai Company. The tax-free system allows residents to freely purchase property. Unlike other countries, residents of Qatar will be able to purchase property without paying any kind of income or corporate tax. This is considered as an advantage due to the absence of tax imposed in other nations.
A large number of multinational companies have established operations in Qatar. These companies offer high quality jobs and attract hundreds of thousands of employees from all over the world. However, tax-free system allows these companies to hire people from any corners of the globe and offer them good salaries. This in return helps the Qatars in building a strong economy.
Both the Qatars and neighboring Gulf States are experiencing rapid economic growth. They have both the motivation and the means to pursue an ambitious economic policy. They are trying to exploit their natural assets and maximize their productive capacity. This has resulted in their remarkable achievements. However, the long term aim of Qatars and Gulf States is to develop a micro economy dependent on tourism, which is an excellent source of revenue. In fact, both the nations are trying hard to make their currencies convertible to US Dollar so that it becomes easier to trade with one another.