(MENAFN- The Peninsula) Deepak John |
The Peninsula
Qatar is investing heavily in smart cities infrastructure and emerging technologies including artificial intelligence, IoT, smart mobility, and cleantech. Qatar Free Zones Authority (QFZA) is focusing its business development efforts to attract, partner, and invest in global companies to build technology clusters to help achieve the country's goals discussed experts during an online event.
US-Qatar Business Council (USQBC) in collaboration with World Trade Center Denver and the Denver Metro Chamber of Commerce organised the virtual event entitled 'Qatar Smart Cities Tech Opportunities Driving its Sustainable Future'.
It shed light on how QFZA is supporting global firms with the commercialisation of their smart city applications and sustainable technologies in Qatar and beyond.
Addressing the event Hamad Al Mohannadi, Business Development Manager at Qatar Free Zones Authority delivered a presentation which introduced Qatar Free Zones Authority and the emerging technology highlighting smart cities and opportunities that rise in the smart city sector within Qatar.
He said,“The free zones started operations in 2019 with a purpose to develop and regulate Qatar's free zones delivering long term solutions for businesses while supporting Qatar's continued growth and economic diversification.”
He said,“Qatar is home to a cloud-enabling ecosystem and the country's world class data infrastructure plays a leading role in the global data economy, providing access to flexible data products and services to technology companies. The ecosystem supports the expansion of a wide range of cloud providers, including Google and Microsoft, and QFZA has developed a cloud-centric ICT strategy to enable and accelerate this growth with services that are supported by best-in-class data and intellectual property regulations, ensuring the business is protected”.
“Qatar offers business opportunities in various ICT sectors such as energy, smart city and mobility solutions, education and healthcare tech, media, sports and events, AI/Machine learning, cyber security/blockchain,” he added.
Al Mohannadi noted, there are two major smart cities of the future in Qatar currently being developed – Msheireb Downtown, a $5.5bn mixed used district covering 31,000 square meters and Lusail City, a $45bn smart city covering 38 square kilometers.
Qatar is committed to clean energy, smart transportation and eco-friendly logistics with the electrification of the public transportation system underway and set to be fully e-powered by 2030.
“As a result of Qatar's smart city development businesses can benefit from diverse opportunities across the smart city supply chain such as mobility, urban planning, energy and environment, security and control social and public services, smart governance; it is multiple opportunities that the country is trying to develop,” he added.
Al Mohannadi elaborated, Qatar is ideally equipped and is taking a leading role in the development of advanced mobility, highlighting that QFZA is a platform to host the latest technologies in advanced mobility, including electric, connected and autonomous solutions which consist of autonomous logistics, delivery units, trucks, shuttles, electric passenger vehicles, and electric buses.
“With brand new infrastructure QFZA offers a wide range of property and land plot options. Our free zones provide diverse solutions with easy access to global links including custom build facilities, industrial warehouses, serviced land, state-of-the-art offices, plug and play facilities,” he added.
Mohammed Hussain Al Abdulla, Chief Executive Officer of Doha Venture Capital discussed the topic 'Building Qatar's future through investing in high growth and innovative companies.'
He explained that there are a lot of funding opportunities in Qatar and part of that is an economic development fund which was created as a 100 percent subsidiary under the free zone - Doha Venture Capital.“We have a dual mandate - as an economic development fund we are looking for financial returns, but we are also a global investor. We look at growth stage companies within the technology space, analyse them and at the same time we speak about creating an impact in Qatar and the free zone mainly around manufacturing angle. Our focus sectors are within the Agritech and FoodTech, CleanTech, Freight and logistics, BioTech and HealthTech and medical devices and we look at different strategic opportunities.”
Speaking about global investment he said,“We invest in companies globally such as companies within the US, SMEs and growth stage ventures whereby those companies want to come to our region and create a regional hub to operate and serve the Mena region. Our value proposition is providing companies with strategic long-term capital and also we facilitate and support their presence in Qatar and introduce to various stakeholders and business opportunities,” he added.
Mohammed Barakat, USQBC Managing Director and Treasurer of the Board of Directors moderated the event and discussed the strength of the US-Qatar business relationship.
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