+ A
A -
Tribune News Network
Doha
Qatar's relentless efforts to fast-track economic growth are sending the country's spending in infrastructure soaring to 45.8 percent of the total planned budget in 2018 with an aim to complete major projects.
Project Qatar, the country's only trade exhibition specialised in construction and related industries, is set to see the participation of the world's leading companies for its 15th edition, as businesses aim to win new contracts amid an increase in spending for projects. This year's outlay for projects stands at QR29 billion.
Under the patronage of Prime Minister and Minister of Interior HE Sheikh Abdullah bin Nasser bin Khalifa al Thani, Project Qatar will be held from May 7 to 10 at the Doha Exhibition and Convention Center. It will provide the global construction sector an ideal platform to explore the massive opportunities in Qatar.
The country has been receiving sustained interest from the global construction market. IFP Qatar, the organisers of the event, reported that in 2017 alone, it successfully hosted a total of 1,017 companies from 33 countries and 14,208 visitors, which took advantage of the growing prominence of Qatar as a key player in global economic development.
Some of the countries that participated in the event include Qatar, Belgium, France, Pakistan, Italy, China, Korea, UK, Germany, Kuwait, Turkey, Spain, Bulgaria, India and the United States.
Haidar Mshaimesh, Projects Director, IFP Qatar, said,"The government has previously announced that its total spending for 2018 could reach up to QR203 billion, including investments in new public facilities and other infrastructure focused on the global sporting event FIFA World Cup. The country has one of the highest outlays for construction expenditure worldwide, which keeps the industry in steady growth year-after-year.
"We are quite confident that this year's edition will be another highly successful one given the keenness of the country's wise leadership to implement infrastructure development in line with the objectives of Qatar Vision 2030.
"The ease of access and face-to-face interaction with local markets have been one of the key features of Project Qatar, attracting thousands of companies year-after-year. The quality of deals and networking opportunities and their successful outcomes are testament to the effectiveness of bringing together global industry leaders under one roof. We have witnessed landmark projects and high-profile deals secured this year."
Manateq CEO Fahad Rashid al Kaabi said,"Manateq has been supporting major events in Qatar and abroad. We are glad to take part in Project Qatar this year as the Economic Partner. The robust growth in the construction industry indicates the continued development in Qatar and we are positive that our participation will bring in more success to the event and to the construction sector.
"Manateq believes in the importance of providing platforms to diversify the economy and we hope Project Qatar will be a good platform for SME's also who play a major role in economic diversification."
