(MENAFN- The Peninsula) joel johnson |
The Peninsula
With the recent launch of the Google Cloud products and services in Qatar, the platform is estimated to create US$18.9bn (QR68.81bn) in Gross Economic Output (GO) by 2030, a report by Access Partnership indicates. In line with Qatar National Vision 2030, the government has set forth plans to implement digital transformation and a knowledge-based economy by transforming the region into a technology hub.
However, a Fitch Solutions report said:“The policy stipulates for establishment of strong digital infrastructure with internationally agreed standards and policies leading to a more efficient economy.”
In terms of the enhancing tech and cybersecurity fields, Qatar is advancing its laws and policies, which includes providing a budget of QR5.97bn, the report says adding that is in place“to protect nation's critical data and infrastructure from cyberattacks and creating stable and secure investment climate by enforcing cybersecurity as its central component, ensuring businesses and organisations benefit from highest levels of protections.”
Fitch Solutions highlights that this significant partnership between the Ministry of Communications and Technology (MCIT) and Google Cloud will expedite data analytics and the adoption of advanced machine learning. Last year, Qatar Financial Centre (QFC) and Google Cloud signed an MoU to build an innovative tech platform for the insurance and banking sectors.
The report stated that“Qatar has abundant hydrocarbon feedstock for energy generation, boosting the supply of electricity and fuel and lowering end-user costs. The market is therefore appealing to energy-intensive firms. It also has a well-developed information and communications technology sector, offering advanced services and fast connection speeds, which somewhat mitigates the very high fixed broadband costs in the country.
It added:“The major downside risk in terms of the utility sector is Qatar's dearth of renewable freshwater resources. Nevertheless, Qatar continues to invest heavily in desalination infrastructure in order to prevent any water shortages.”
In an interview with The Peninsula, Google Cloud officials said that Qatar is working towards transitioning its economy with various tech-based innovative products.
Emphasising the remarkable partnerships in the country, Ghassan Kosta, Qatar Country Manager, Google Cloud said that“Our relationship with all the regulators here in Qatar like the CRA and MCIT remains strong. We are so proud to have a partnership and looking forward to growing from even Qatar to other regions.”
Tarek Khalil, Director, Middle East & North Africa, Google Cloud said“We have aligned our objectives and vision with the Qatar National Vision 2030 where transformation sits as a top priority on their agenda.”
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