Investment Promotion Agency of Qatar Signs MoU With Microsoft In A Bid To Catalyze The Country's Digital Transformation And Innovation
The agreement comes as part of both entities common goal to work towards the development of an innovation-driven digital sector in Qatar, and will see them promoting the nation as a leading business hub in the MENA region.
The Investment Promotion Agency of Qatar (IPA Qatar), the agency overseeing investment activities under the Invest Qatar brand, has signed a Memorandum of Understanding (MoU) with global tech company Microsoft.
The MoU, which was signed by IPA Qatar CEO Sheikh Ali Alwaleed Al-Thani and Microsoft General Manager Lana Khalaf, was announced during a launch ceremony of the latter's cloud data centre region in Qatar. The agreement comes as part of both entities common goal to work towards the development of an innovation-driven digital sector in Qatar, and will see them promoting the nation as a leading business hub in the MENA region.
Among the many strategies that are expected to be designed as a part of this collaboration include joint marketing activities and publications, initiatives that will sharpen the local talent pool's digital skills, and programs catered towards empowering and attracting startups and fast-growing tech companies in sectors such as agriculture, finance and insurance, energy, and sustainability.
As the Qatar's umbrella organization for attracting foreign direct investment, IPA Qatar has already partenered with many information and computer technology (ICT) firms including Spain-based renewable energy company Iberdrola, aviation tech firm FLYR Labs, the Ministry of Communications and Information Technology (MCIT), and Qatar Research, Development and Innovation Council. This comes in the midst of a report by international management consulting firm Oliver Wyman showing that by 2025, more than 40 percent of all ICT investments in the MENA region will be allotted to the execution of digital transformation efforts.
IPA Qatar's MoU with Microsoft therefore aligns with the country's strategic directive to engage strong partners, who share its commitment to the core mandate of Qatar's digital transformation agenda and its aim to develop a knowledge-based economy in line with Qatar National Vision 2030.