(MENAFN- The Peninsula) deepak john |
Doha: Qatar is positioning itself as a global leader in cybersecurity initiatives by adopting laws and policies focused on tech and cybersecurity. The country's national vision and development strategy lay a solid foundation for enhancing its cybersecurity capabilities.
The regulatory environment and cybersecurity policy landscape in Qatar are geared towards ensuring robust nation-wide digital security. Qatar's cybersecurity policy landscape spans several policies and bodies to protect the nation's critical data and infrastructure from cyberattacks according to a report by Investment Promotion Agency Qatar (IPA Qatar).
Combined with skilled talent and policy frameworks, Qatar's cybersecurity capabilities have been enhanced with the establishment of effective infrastructure and technologies. Cloud-enabled technologies that are offered by in-country datacentres play a crucial role in helping organisations defend against modern cyber threats while meeting regulatory requirements.
The report noted, Qatar's cybersecurity strategies have brought forth the formation of a secure environment for digital transformation, investments and growth. Cybersecurity has played a vital role in several key areas - as a foundation for digital growth by supporting enhanced security of technologies, increased efficiency and productivity, and defending against new threats and vulnerabilities; as a key player in establishing a stable and secure investment climate by making cybersecurity a central component of its digital growth strategy, enabling businesses and organisations to protect themselves from the potential effects of cyber attacks and data breaches.
A key element of Qatar's digital growth and economic diversification strategy by incorporating cybersecurity as a central component into its digital transformation strategy, establishing all the required elements to protect its businesses, organisations, and citizens from the threats that accompany the increased adoption of modern technologies, ensuring that the businesses and citizens can continue to innovate and compete in the digital world.
Cybersecurity has played a vital role in driving Qatar's digital transformation, securing the investment and business environment. The report stated,“As a modern technologies become increasingly critical for Qatar's digital transformation efforts, the demand for skilled cybersecurity professionals is increasing as well. To meet the rising need for trained and skilled professionals, Qatar's Ministry of Communications and Information Technology (MCIT) established various initiatives in partnership with Microsoft.”
Qatar's commitment to enhancing its cybersecurity and digital space has established a resilient cyber ecosystem with compelling market opportunities for foreign investors. With a budget of over US$1.64bn and the fastest growth in cybersecurity spending in the Middle East, Qatar provides significant investment opportunities for cybersecurity companies.
The country's strong focus on developing its digital infrastructure is attracting international companies and investors, positioning Qatar as a global leader in cybersecurity initiatives. With a thriving technology sector and supportive government initiatives, including Qatar National Vision 2030, National Development Strategy II and the National Cyber Security Strategy (NCSS), Qatar offers a favourable environment for businesses looking to invest in the cybersecurity market.
Recent high-profile cybersecurity attacks and the 66 percent of SMEs globally that experienced cyberattacks in 2021 point to the urgency for organisations to ward off cybersecurity risks. Amidst these challenges, the global cybersecurity market is poised for significant growth, with revenues expected to reach $376bn by 2028.