Qatar Economic Forum 2025 opened with a strong focus on economic diversification, as leaders highlighted plans to reduce hydrocarbon reliance and attract foreign investment.

Discussions on steering Qatar away from its hydrocarbon-dependent economy toward a more sustainable, future-oriented model dominated the opening day of the Qatar Economic Forum 2025 on Tuesday.

The forum began with an address from Prime Minister and Minister of Foreign Affairs Sheikh Mohammed bin Abdulrahman Al Thani, who underscored the country’s long-term strategy to build a knowledge- and innovation-driven economy.

“We look towards a diversified economy based on knowledge and innovation, accompanying technological advancements,” Sheikh Mohammed said.

The push for diversification is central to Qatar’s National Vision 2030, which aims to transform the country into an advanced society with a high standard of living and sustainable development.

In 2024, hydrocarbon activities accounted for 36% of Qatar’s total GDP – a slight decline from the previous year.

Sessions throughout the day focused on strengthening non-hydrocarbon sectors, particularly those tied to production, technology, and knowledge. In a breakout panel on economic diversification, Sheikh Ali Alwaleed Al Thani, CEO of Invest Qatar, echoed the prime minister’s message.

“When it comes to government revenues, there is a strong push towards diversification,” Sheikh Ali said. “We might not see the obvious impact at a macro level, but we can see it in non-hydrocarbon GDP growth, which has consistently outpaced the hydrocarbon sector.”

According to the latest data from the National Statistics Centre, non-hydrocarbon sectors recorded 3.4% annual growth as of March.

Hydrocarbon industries, however, saw slightly higher growth at 6.2%, yet officials maintain that the long-term trajectory points toward sustainable development and economic resilience.

Foreign investment also emerged as a recurring theme during the day’s panels. Sheikh Ali revealed that a four-part incentives programme would soon be launched to support strategic sectors such as manufacturing, advanced technology, and logistics, seen as key to reducing reliance on extractive industries.

Earlier in his remarks, Sheikh Mohammed said Qatar would roll out new incentives for foreign investors. He likened the 2022 FIFA World Cup to an “IPO” for the country, drawing global attention and laying the groundwork for long-term investment.

“We aspire to make Qatar a global centre for trusted, investor-friendly business,” he said.

In his closing remarks, Sheikh Mohammed returned to the importance of regional stability for economic prosperity, calling for an immediate ceasefire in Gaza.

“Economic growth and political stability are intertwined,” he said. “We believe that every diplomatic effort is an investment in a safer and more stable future.”