Qatar has announced two ambitious plans to strengthen its non-oil economy and secure $100bn in foreign direct investment (FDI) by 2030. The strategies, reported by the state-run Qatar News Agency, are part of the Qatar National Vision 2030 framework and aim to promote sustainable growth while increasing the private sector’s contribution to the nation’s GDP.

The Qatar National Manufacturing Strategy 2024/30 plays a key role in this transformation. It aims to increase the added value of manufacturing industries to $19.4bn (QAR70.5bn), boost non-hydrocarbon exports to QAR49bn, and attract industrial investments worth QAR2.75bn by the end of the decade. The plan includes 15 initiatives and 60 projects, focusing on diversifying industries by 50%, elevating the private sector’s contribution to QAR36bn, and positioning Qatar among the top 40 countries in the competitive industrial performance index.

Sheikh Faisal bin Thani bin Faisal Al-Thani, Qatar’s Minister of Commerce and Industry, explained that the strategy emphasizes smart and green industries, research and development, and greater participation of Qatari workers in manufacturing.

In addition, the Ministry of Commerce and Industry is rolling out initiatives to support SMEs, boost global trade relations, and encourage digital transformation across industries. The ministry is overseeing 216 projects and has established performance metrics to ensure their success.

PwC highlighted that this shift is part of Qatar’s Third National Development Strategy (NDS-3), which marks a move from reliance on oil and gas to a more diversified economic approach. These efforts are expected to enhance competitiveness, productivity, and intellectual property protection while driving the next phase of the Gulf state’s economic growth.