Qatar’s economy minister says the Gulf state will invest around QR664bn ($182bn) on infrastructure in the next five years as figures show there are with 432 construction companies investing more than $10.4bn in the Gulf state, it was reported.
Sheikh Ahmed bin Jassim bin Mohamed al Thani said the companies employed roughly 37,000 people as Qatar gears up to host the 2022 World Cup, Gulf Times reported.
However, he said a wise management of the Qatari economy would require increasing competition and attract more investment to stimulate growth.
The minister said that the outlook for the construction sector in Qatar was very promising, particularly because construction projects played an important part in the Gulf region in general.
Speaking at the GCC and Yemen Building Materials Manufacturers Forum, Sheikh Ahmed said that it would discuss issues relating to increasing demand in the GCC area and the move towards green buildings.
He expressed the hope that the forum’s outcome would boost co-operation and partnership between building material manufacturers in the region.