Background
While oil and gas will probably remain the backbone of Qatar's economy for some time to come, the country seeks to stimulate the private sector and develop a knowledge economy. In 2004, it established the Qatar Science & Technology Park to attract and serve technology-based companies and entrepreneurs, from overseas and within Qatar. Qatar also established "education city" which consists of international colleges. For the 15th Asian Games in Doha in December 2006 it established a "sports city" consisting of Khalifa stadium, the Aspire Sports Academy, aquatic centres, exhibition centres and many other sports related buildings and centres. Qatar also plans to build an "entertainment city" in the future.
Apart from Qatar itself, which needs to raise the capacity of its financial services to support more than $140 billion worth of projects, the QFC also provides a conduit for financial services providers to access nearly $1 trillion of investment across the GCC as a whole over the next decade.
Read more about this topic: Qatar Financial Centre
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