Qatar Science and Technology Park Outline Example | Topics and Well Written Essays - 750 words

Qatar Science and Technology Park - Outline Example It has recently amended the investment law to draw greater foreign investment into non-energy areas of the economy, including the financial sector, petrochemicals and tourism, and to target foreign acquisition opportunities that could assist this diversification strategy. In early 2010, the new investment law was implemented, opening up a range of new sectors to majority foreign participation. Investment in small and medium-sized enterprises is particularly encouraged. Part of the Qatar’s policy for the next 3 years, the government is expected to maintain high levels of capital spending on education, health and transport. Growth will benefit from high levels of investment in the hydrocarbons sector, but will be dampened by imports needed to develop Qatar’s energy facilities and upgrade its infrastructure. The transition of the country from a carbon economy to a knowledge economy (Qatar Foundation, 2011) has been permanently promoted and encouraged by Qatar Foundation, an organization founded in 1995 by the Ruler of Qatar (HH Sheikh Hamad Bin Khalifa Al Thani), with the purpose to unlock the human capital (Qatar Foundation, 2011), combine the country’s natural resources with the ability to use them at their best by creating knowledgeable and progressive people. For this purpose and in order to follow its vision and mission, Qatar Foundation gives a special attention to the Education and Science & Research areas. It is a purpose to encourage knowledge and study to materialize into new ideas, creating development, growth and recognition. Qatar Science and Technology Park is part of this Science & Research ambitious plan. Located in Qatar Foundation’s Education City, it is operational since 2004 and it is meant to be a world hub for applied research, innovation and entrepreneurship (Qatar Science and Technology Park,