2017-2018 HH THE EMIR SHEIKH TAMIM BIN HAMAD AL THANI HH THE FATHER EMIR SHEIKH HAMAD BIN KHALIFA AL THANI INDEX PUBLISHER & EDITOR IN CHIEF ECONOMY: 19-48 YOUSUF BIN JASSIM AL DARWISH BLOCKADE OPENS NEW VISTAS QATARI BANKS WEATHER BLOCKADE STORM MANAGING DIRECTOR & CEO QATAR REMAINS LARGEST LNG EXPORTER JASSIM YOUSUF AL DARWISH A SAFE HAVEN FOR INVESTORS PARADISE REGAINED MANAGER QIA: A HELPING HAND INSURANCE UNSCATHED DR FAISAL FOUAD ISLAMIC FINANCE: GOING GREAT GUNS ALI BIN ALI: A HISTORY RICH IN ACHIEVEMENTS QFC: BUSINESS AS USUAL UNINTERRUPTED GROWTH FOR REAL ESTATE SECTOR EDITORIAL EVENTS OFFICER CHIEF EDITOR GHAZALA MOHAMMED IZDIHAR IBRAHIM ICT: 49-62 MOVING TOWARDS A SMART FUTURE SENIOR CORRESPONDENTS ACCOUNTANT GBI: PIONEERING INNOVATION KARIM EMAM PRATAP CHANDRAN CRA: FOSTERING TRANSPARENCY, COMPETITION AND CONNECTIVITY UDAYAN NAG OOREDOO: CONNECTING THE WORLD PUBLIC RELATIONS OFFICER VODAFONE: QATAR’S PARTNER IN PROGRESS ART ESLAM ELMAHALAWY SENIOR ART DIRECTOR CULTURE AND SPORTS: 63-70 MANSOUR ELSHEIKH SECRETARY AND A YEAR OF ART, CULTURE AND NATIONALISM DEPUTY ART DIRECTORS ADMINISTRATIVE ASSISTANT POWER OF SPORTS MORE IMPORTANT THAN EVER AYUSH INDRAJITH REENA LEWIS HUSSEIN ALBAZ INFRASTRUCTURE: 71-100 DISTRIBUTION DEPARTMENT REGAINING LOST GROUND MARKETING & SALES BASANTA POKHREL IN A CLASS OF ITS OWN: NASSER BIN KHALED HOLDING MANAGER KAHRAMAA: MAINTAINING AN UNINTERRUPTED SUPPLY SAKALA A DEBRASS GWC: IN THE SPIRIT OF SOLIDARITY TEAM QATAR AIRWAYS: OPENING DOORS TO QATAR SONY VELLATT MANATEQ: CREATING A NEW BUSINESS ORDER HIA: PRIDE OF QATAR KHALID JAFFER QATAR RAIL: REDUCING DISTANCES, CONNECTING QATAR ASHGHAL: QATAR DESERVES THE BEST HAMAD PORT: QATAR OPENS NEW MARITIME GATEWAY WORLD CUP 2022: THE GAMES ARE VERY MUCH ON THE PAINTING ON THE COVER WORLD CUP 2022: PREMIUM SEATING IS A GIFT FROM QATARI ARTIST ALI HASSAN ENVIRONMENT: 101-106 SUSTAINING SUSTAINABILITY WASTE MANAGEMENT: FROM CONSTRUCTION TO CONSTRUCTIVE QATAR AND THE WORLD: 107-116 GCC STALEMATE: ADVANTAGE QATAR “IRAN, QATAR GO BACK A LONG WAY” “QATAR, TURKEY ARE SISTER COUNTRIES” EDUCATION: 117-128 Published by QATAR WITNESSES RISE IN EDUCATION EXPENDITURE Oryx Publishing and Advertising Co WLL QATAR’S FOUNDATION FOR R&D ENDEAVOURS P.O. Box 3272; Doha-Qatar ENTREPRENEURIAL MINI-BOOM AT CMU-Q Tel: (+974) 44672139, 44550983, 44671173, 44667584 ACS DOHA: PREPARING NEW KIDS ON THE BLOCK Fax: (+974) 44550982 Email: [email protected] HEALTH: 129-132 Website: www.oryxpublishing.com A YEAR OF MEDICAL EXCELLENCE NEARLY 3 MILLION PEOPLE VISITED PRIMARY HEALTH CENTRES IN 2017 A PRESENTATION PROGRESS 2017-2018 SLUG NAME FOREWORD Year after year Qatar overcomes various challenges and continues to reap the benefits of its achievements, but 2017 was different from all previous years. The country’s leadership, the resolve of its people in the face of the blockade, and the policies followed by it in the field of political, economic, diplomatic and human development resulted in international commendation for Qatar from all over the world. Standing tall against the embargo imposed on it by some of its Arab neighbours has brought to the fore the Qatari character which has won the respect and appreciation of enemies and friends alike. The conflict has highlighted the potential of the Qataris to widen their horizons, emphasized the importance of self-sufficiency, and stressed the need to support the national economy with alternative resources. The crisis also confirmed the success of the wise leadership in investing in the Qatari people who have shown courage, awareness and cohesion against the designs and agenda of the blockading countries which went all out to harm Qatar and its people, but Qatar was equal to the task under the banner of Tamim Al Majd (Tamim the Glorious). Thanks to its potential and capabilities and future plans and strategies, in which the priorities of self-sufficiency, enhancement of national assets and industries, and minimising the impact of the blockade on the giant national development projects were foremost, Qatar has succeeded in maintaining its steadfastness and perseverance and in countering the blockading measures which were suddenly and unexpectedly imposed by some Gulf states. Despite the unjust blockade, Qatar’s 2018 budget, announced by His Highness Sheikh Tamim bin Hamad Al Thani in December 2017, affirmed Qatar’s firm insistence on defying the embargo and maintaining the strength of the Qatari economy in the face of any economic and social restrictions imposed on the country since June last year. Spending will increase to QR203.2 billion, up by 2.4% from the budget of 2017. Revenue is also expected to rise by 2.9% to QR 175.1 billion, driven by non-hydrocarbon revenues. Qatar is ranked 25th worldwide and second in the Arab world in the World Economic Forum’s Global Competitiveness Report 2017-2018, surpassing 112 countries worldwide, which reflects Qatar’s continued global competitiveness and reinforces it's plan to enter the list of the 10 most competitive economies in the world in the coming 10 years, overtaking Saudi Arabia (ranked 30th), Kuwait (ranked 52nd), China (ranked 27th), Bahrain (ranked 44th) and Poland (ranked 39th). In the Economic Freedom Index of 2017 issued by The Heritage Foundation of the United States of America, Qatar ranked second among Arab nations and 29th in the world among 180 countries rated by the index in terms of economic freedom. According to the index, Qatar scored 73.1 points, 2.4 points higher than its score in 2016, while the world average is 60.9 points and the regional average is 61.9 points. The important areas where Doha achieved successes were tax policy, collection and free trade. 9 CONTENTS 20 BLOCKADE OPENS NEW VISTAS Qatar has announced a series of measures such as lifting the moratium on the North Gas field and issuing a record $9 billion Eurobond sale in the regional and international debt markets. 16 A NATION AND ITS LEADER COME OF AGE The year 2017 saw the Emir HH Sheikh Tamim bin Hamad Al Thani lead from the front as Qatar blocked the Saudi-Arabia led blockade imposed on it. 31 A SAFE HAVEN FOR INVESTORS 40 ISLAMIC FINANCE: GOING GREAT Non-Qatari investors can own up to 49% of GUNS the capital of companies listed on the Qatar Qatar has earned a place among the Stock Exchange if they get approval from ‘Top 10’ nations in the world for its ‘best the government. developed ecosystem’ for Islamic finance 24 QATARI BANKS WEATHER 34 QSE: PARADISE REGAINED 44 QFC: BUSINESS AS USUAL BLOCKADE STORM The turmoil on the Qatar Stock Exchange The economic blockade imposed by the The downgrading of Qatar’s sovereign that followed the snapping of commercial neighbouring countries in the GCC region credit rating from 'stable' to 'negative' had and diplomatic ties by some countries in has had little impact on Qatar’s financial little impact on the performance of the the GCC region on June 5, 2017 dissipated activities. country’s banking section in the first three within 72 hours. quarters of 2017. 46 UNINTERRUPTED GROWTH FOR 38 INSURANCE UNSCATHED REAL ESTATE SECTOR Following the blockade on Qatar, the rest of The country’s real estate sector not only the world offered plenty of opportunities to received a shot in the arm due to the rising insurance companies in the country. oil prices but also remained unscathed in the aftermath of economic and trade sanctions on Qatar. 28 QATAR REMAINS LARGEST LNG EXPORTER 36 QIA: A HELPING HAND Despite the embargo imposed by its Arab Qatar’s Minister of Finance HE Ali Shareef Al neighbours, Qatar continued to be the Emadi confirmed that the Qatar Investment world’s leading LNG exporter in 2017, a Authority had brought back more than position held by it for over a decade. QR73 billion into the country since the standoff with its neighbours. CONTENTS 50 MOVING TOWARDS A SMART FUTURE Two decades after opening up the country’s telecom sector, Qatar's information and communications technology industry is moving ahead at a rapid rate. 59 CONNECTING THE WORLD 68 POWER OF SPORTS 63 QATAR WITNESSES HISTORIC From a one-nation operator with less than Qatar Olympic Committee president Joaan NATIONAL DAY CELEBRATIONS two million customers in 2005, Ooredoo bin Hamad Al Thani reflects on a year in Minister of Culture and Sports HE Salah now has a customer base of more than which sports in the country became more bin Ghanem bin Nasser Al Ali had said 150 million in nearly a dozen countries “important than ever”. last year that the country's National Day celebrations at Darb Al Saai highlighted the unity between the expats and Qataris. 64 A YEAR OF ART, CULTURE 61 VODAFONE: QATAR’S PARTNER AND NATIONALISM IN PROGRESS Aiming at becoming one of the art In line with the ambitions, dreams and capitals of the world, Qatar continues visions of the nation, Vodafone Qatar has to make strides to make the country been playing its role to be recognised as a home to local and international art long-term partner in the country. masterpieces. CONTENTS 94 QATAR’S NEW MARITIME GATEWAY The New Port Project (Hamad Port) at Umm Al Houl, located south of Doha, was formally inaugurated during a colourful ceremony in September 2017. 72 QATAR COMPANIES REGAIN LOST GROUND Mergers, announcement of future plans, contingency as well as permanent arrangements and new alliances in the face of travel trade sanctions marked Qatar’s corporate sector during 2017. 78 MAINTAINING UNINTERRUPTED SUPPLY Kahramaa has succeeded in maintaining the country’s requirements for electricity 105 CONSTRUCTION WASTE and water round the clock. MANAGEMENT 102 SUSTAINING SUSTAINABILITY The agreement between QPMC and TRL Despite some tough times because of is expected to produce 30,000 tonnes strained relations with its neighbours, there of recycled aggregate in 3-5 years' time, was no let-up in efforts to make Qatar more according to Dr Khaled Hassan, Country environment-friendly.