Doing Business in...Qatar
Economy Qatar is one of the wealthiest and most prosperous country in the Gulf Cooperation Council (GCC). With one of the strongest GDPs in the world, Qatar also has the fastest growing economy in the GCC. The economy of Qatar is largely dominated by oil and natural gas revenues, such that it has the world’s …
Contributed by Sharq Law Firm
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Legal Market Overview
Qatar is the world’s richest nation per capita and is the largest exporter of liquefied natural gas. As such, the oil and gas sector is highly important to the country, but Qatar continues to diversify its economy and has committed large amounts of funding into key construction projects, including work relating to the 2022 Fifa World Cup. Other significant areas of growth linked with the country’s National Vision 2030 development plan are transport, infrastructure and manufacturing.
The nation has largely recovered from the effects of the Gulf dispute which began in 2017, when Saudi Arabia, the United Arab Emirates, Bahrain and Egypt imposed a political and economic boycott on Qatar. There are signs the crisis may be resolved, as in December 2020 Saudi Arabia and Qatar began negotiations on ending the three-year blockade.
In the legal market, key international firms with offices in Qatar include Dentons, Simmons & Simmons Middle East and White & Case LLP. Regional firm Al Tamimi & Company In Association with Adv. Mohammed Al Marri also has a strong presence in the region. However, Squire Patton Boggs is set to close its Doha office and will join other law firms that have left Qatar, including Clifford Chance, Herbert Smith Freehills LLP and Allen & Overy LLP, but continue to handle work in the country.