The Qatar peninsula is situated on the north–eastern coast of Arabia. Surrounded by the Persian Gulf on three sides, the country shares its southern border with Saudi Arabia. Before the discovery of oil on the peninsula, Qatar’s economy revolved around fishing and pearl diving.
Qatar has the world’s third highest oil and third highest gas reserves, and the country’s economy is dominated by the oil and gas industries. Qatar has a population of 2.6 million, of whom around 2.3 million are expatriates.
In recent years, Qatar has emerged as a major power in the Arab world – thanks in part to the influence of the Al Jazeera media group. Thanks to its booming GDP and growing soft power, tiny Qatar is increasingly referred to as a Middle Power.
As world oil prices have fluctuated, the government has sought to diversify the Qatari economy, and sees industry as integral to this process. Qatar has become a major industrial player in the region, driven by the regional boom in construction materials.
The country’s heavy industry is situated at Umm Said, and includes an oil refinery and plants for fertiliser, ammonia and urea.
Our local HLB firm in Qatar offers services in accounting and bookkeeping, audit services, tax compliance and advisory services and management consulting services to a wide range of domestic and foreign clients.
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