Qatar is focusing on technology as a key sector for achieving economic diversification, with the Finance Minister Ali bin Ahmed al-Kuwari highlighting the country’s commitment to innovation and digitization. Speaking at the 22nd Doha Forum, al-Kuwari emphasized the importance of technology, AI, and innovation in driving economic growth, stating that those who have technology are the ones experiencing growth.
To support this, Qatar has already offered $2.5bn in incentives to encourage innovation, digitization, and AI, with initiatives such as a $1bn ‘fund-of-funds’ to attract investment in Doha. The country is also making strides in expanding data center capacity and collaborating with international tech companies like Nvidia, Google, and Microsoft.
Qatar’s fast Internet speeds and strong infrastructure place it in a good position to leverage technology for economic development. The country has identified six critical factors, including a national innovation strategy, high R&D levels, and diverse funding options for SMEs, as key elements for establishing a successful startup ecosystem.
With a focus on technology and innovation, Qatar is working towards achieving its Vision 2030 goals and driving economic growth through digital transformation. The country’s commitment to embracing new technologies and fostering a supportive ecosystem for startups is positioning it as a leader in the region for technological advancement.
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