Qatar takes leading role as polymer centre

The Global Peace Index compiled by the Economist Intelligence Unit cited Qatar as the most peaceful country in the Middle East. The index took into consideration such indicators as the levels of violence, organised crime and military expenditure within a country. It has also been correlated against various social development indicators such as democracy, transparency, education and well-being to better understand the determinants that create or sustain peace, defining peace as the absence of violence. In the recent Qatar Economic Forum on the Trends in the Banking Industry in Qatar and the Gulf, it was noted that the global financial crisis has given Qatar an opportunity to showcase its fundamental strengths and emerge stronger from the crisis, according to R. Seetharaman, CEO of Doha Bank. Mr. Seetharama said that the Qatari economy and its banking sector had registered significant growth. This is in contrast with the slowdown being experienced in most developed economies due to the global financial crisis. To date, most analysts agree that Qatar is one of the best investment destinations in the Gulf region given its numerous investment incentives. Industrial land is relatively cheaper, electricity and natural gas are abundant, exchange rate is stable, foreign ownership is allowed on certain sectors, while there are no duties or taxes for the first 10 years of operation. Oil fuels growth in the industrial sector Qatar''s proven oil reserves estimated at a staggering 25.7 billion barrels can last for 90 years at an average production of 776,000 barrels a day, while the country''s massive gas reserves are enough to support planned gas production for over 200 years, according to the report by the Oxford Business Group (OBG). Qatar''s North Gas Field is the world's largest non-associated gas field and holds an estimated 902 trillion cubic feet, which is the equivalent of 162 billion barrels of oil -- enough to support planned gas production for over 200 years. With the development of major new LNG projects, Qatar''s LNG exports would grow tremendously ?rising $4.2 billion to $14.8 billion over the same period ?and accounted for 35.2% of all export earnings in 2007. The country''s booming construction sector also provides vast opportunities for developers and contractors as the government embarks on major infrastructure and housing projects. The State has provided incentives to encourage the investments of the private sector in industrial development projects. It developed the required infrastructure for such projects, issued required laws and legislation concerning foreign investments in domestic economic activities and supported consultant firms specialising, in particular, in planning and developing small and medium scale industrial zones. In service of the same objectives, Law No 19 of 1995 and its by-laws on the industrial organisation were issued and, in 1997, the Doha Securities Market was commissioned. The Qatar Industrial Development Bank was established in accordance with a decree issued in 1997 with the aim to support and enhance industrial and economic development by means of providing required finance for small and medium-scale industrial projects. The establishment of Qatar Industrial Manufacturing Company in 1998 was a true embodiment of the vital organisational partnership between the public and the private sectors. The company aims to invest its capitals in different industrial fields inside and outside the country. The company has set up 7 subsidiaries: Qatar Gypsum Co., Qatar Jet Fuel Co., Qatar Metal Coating Co., Modern Detergent Co., National Paper Co., Qatar Food Co., Qatar Sand Treatment Plant in addition to cosmetics and shampoo products manufacturing. The private sector has implemented several manufacturing projects in the field of food, vegetable oils, detergent, plastic, paints aAir Jordan