Non Oil Sector needs to gather the much needed Speed
World oil and gas markets are witnessing a landslide fall, which a scenario is good for energy short countries but bad for the energy rich countries like Middle East.
The up and down in oil prices over the past two decades, have forced many middle eastern countries to branch out into non oil sectors. However, despite this realization, the branching out speed has remained slow, which is why the non oil sectors still have a small market share.
While the countries are all freshly geared towards promoting the private sector, there is a need to remove the bottlenecks and speed up this process, because the proactive and quick actions shall yield in the most of private sector opportunities.
There used to be dozens of ready made garment factories operating in Qatar for several years. They used to meet all the expenses and on top of it, able to make good money by exports to US and European Union.
There is no shortage of olive oil in the Arab work, if you can put up a competitive processing plant.
Garments - what would happen to Bangladesh and India ? Can Qatar offer lower wages ?
Olive Oil - Where are you going to grow the Olives ?
Garments for export, since there is a huge international market for it.
Olive Oil for cooking
Ship Building
Tourism
Food processing and repackaging
We need to focus on manufacturing plastic products as raw material is very cheap .............. presently ............