(MENAFN- The Peninsula) Qatar as part of its sustainable development strategy will continue to invest around $350bn (QR1.27 trillion) over the next 15 years to achieve the goals, according to a senior official of IFP Qatar, the organiser of the upcoming 'Project Qatar 2015' to be held from May 4 to 7.
"Qatar in the run-up to the 2022 Fifa World Cup and in line with the National Vision 2030 (QNV 2030) document will be investing nearly $350bn," said George Ayache, General Manger of IFP Qatar, adding, "the figure includes the value of all the projects since the launch of QNV 2030 programme, including the industrial projects and the $70bn investment dedicated to the country's hospitality and tourism sector development."
Ayache noted that the construction sector will remain vital contributing to the development goals, considering that Qatar's economy is expected to record a 7.7 percent growth in real GDP this year, with the non-hydrocarbon sector accounting for 50 percent of GDP.
He was speaking at a press conference held to announce the date and other details of the 12th edition of the annual International Construction Technology and Building Materials Exhibition. The meeting also featured a number of company officials and senior diplomats from countries which are participating in the event, including Austria, Germany, Italy, India, Malaysia, South Korea, the Netherlands among others.
Project Qatar 2015 is being held under the patronage of Prime Minister and Interior Minister
H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani, represented by H E Sheikh Ahmed bin Jassim Al Thani, the Minister of Economy and Commerce, who will inaugurate the show at the Qatar National Convention Centre.
This year's event will feature participation from 40 countries, representing over 2,000 companies and brands, including 1,130 exhibitors and 21 national pavilions spread over seven halls and an outside area, covering 41,500 sqm of exhibition space. The show is also expected to attract over 50,000 professional visitors, which proves the magnitude of the show in the local and regional construction industry.
Cyprus will have its first presence as a pavilion at the exhibition this year, being represented by 10 of its leading companies.
Gerd Bommer, Commercial Counsellor at the Embassy of Austria, said: "The Austrian Pavilion at Project Qatar 2015 will once more be the perfect platform for Austrian companies in the areas of interior design, materials for construction industry and optical systems."
Lee Kwang-il, Commercial attaché at the Korean embassy to Qatar, added: "Over 40 years of history of the tie between the two countries, Korea and Qatar, we are currently entering into a new era of the cooperation. With 11 companies under the umbrella of the Korean pavilion, we hope to strengthen the relationship, especially in the eco-friendly sector."
An advanced 'PQ 2015 Mobile Application' that includes all features of the show, including the floor plan, the exhibitors' list, the sponsors' list, the visitors' registration form and other information will be available on all App Stores. The international exhibitors will have the opportunity to explore the activities of the booming construction sector in Qatar through free site visit tours to several mega construction sites, including the New Port Project and the Mall of Qatar.
Some of the leading companies supporting the event include: Qatar Primary Material Company, Emirates Steel, Al Sraiya group, Tadmur Holding, Hensel Phelps, QD-SBG Construction, Bitumode Qatar, QD € CPC industries and Gulf Crafts.
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