|23 May, 2016

QR72bn investment avenues in sports: Minister

Private sector opportunities in event management, construction, tourism and marketing

General view of the Khalifa Stadium during the final match between Umm Salal and Al-Gharafa of the Qatari Amir Cup soccer tournament in Doha May 15, 2008. Image for illustrative purpose.

General view of the Khalifa Stadium during the final match between Umm Salal and Al-Gharafa of the Qatari Amir Cup soccer tournament in Doha May 15, 2008. Image for illustrative purpose.

REUTERS/Fadi Al-Assaad
23 May 2016
DOHA: Qatar's booming sports sector will offer opportunities worth QR72bn to the private sector in the next seven years. 

These opportunities will be in development of sports, event management and promotion, construction of facilities, goods and equipment, marketing, sports tourism and operations and maintenance of facilities, said Minister of Economy and Commerce, H E Sheikh Ahmed bin Jassim Al Thani speaking at a forum yesterday. 

Prime Minister and Interior Minister H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani yesterday inaugurated 'Sports Business Opportunities Forum' at St Regis where stakeholders in business and sports sphere discussed the opportunities in Qatar's sports sector.

The Economy and Commerce Minister added that the Ministry has identified QR72bn investment opportunities in the sport sector for the next seven years.

"Sport is part and parcel of the Qatar National Vision 2030. The 2015 Handball World Cup was hosted here, and around 30 major events are organised here on an annual basis. This domain can be further developed. Qatar has splendid facilities, and will have the best stadiums in the world," said the Minister. 

"The management of events, stadium construction, sports tourism, promotion, marketing and PR campaigns are the main disciplines which we need to develop. There are plenty of opportunities for the private sector to participate and we will facilitate access for the private sector through the Qatar Sports Business Cluster," he added. After the opening session, the Ministry of Economy and Commerce signed a Memorandum of Understanding with Aspire Zone for the creation of a Sport Business Park at the Zone to support sports businesses in Qatar. 

"The 2022 FIFA World Cup will contribute to the economic development of Qatar, bringing with it excellent investment opportunities, and further enhance the country's position as a sports hub and tourism destination. We have always looked to give an important role to the Qatari private sector companies, to help them benefit from this tournament," said Hassan Al Thawadi, Secretary General, Supreme Committee for Delivery and Legacy (SC). 

"Qatar will become a centre for exporting this expertise to the region and the world. We are ready to support all the infrastructure developments which lead to 2022, and are working to leave a lasting economic legacy by cooperation and partnership with the private sector. We are confident that through our work together and our long-term planning we will make this tournament a turning point for the sports sector in the region," he added.

Saud Al Attiyah, director of Economic Policy and Research at the MEC, highlighted the future opportunities in the sports industry in Qatar at the event. Presenting to a full room of sports sector companies in a workshop session, the Supreme Committee for Delivery and Legacy outlined the business opportunities available to companies, specifically in the venues construction sector.

© The Peninsula 2016

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