For an entrepreneur spotting the right investment opportunity has more to do with keeping their eyes and ears open than merely waiting for the proverbial knock on the door. Qatar leads the Arab region in the Network Readiness as well as Innovation indices as recently announced in the World Economic Forum report. These achievements are a result of strides Qatar has made in developing its ICT sector. The tangible benefits are now available in the form of 68 distinct opportunities for all in Qatar who have an interest in the ICT sector.
To elaborate, Qatar’s ICT sector is actually made up of two sub-sectors: Information Technology (IT) and Communication. The overall ICT sector is growing rapidly, creating a wide range of investment opportunities in the country. As part of its National Development Strategy, the Supreme Council of Information & Communication Technology (ictQATAR), has initiated a broad assessment and analysis of investment opportunities in Qatar.
The assessment revealed that Qatar’s ICT market size grew by 21% in 2011 in comparison to 2010 reaching approximately 15.5 Billion Qatari Riyals. The ICT market is expected to reach approximately 24.7 Billion Qatari Riyals by 2016. The IT component of the market is also projected to grow at a healthy rate of 15% annually, while the more mature communications sector has a 6% annual growth rate forecast.
This growth is predicated upon two key aspects. Firstly, by increased digitization levels across all economic sectors, and secondly due to the completion of large-scale national infrastructure projects. Examples of such large scale national projects include the new Doha International Airport, Qatar Rail Network, the new Doha Port and many projects related to FIFA 2022.
ictQATAR, as part of its Industry Development Initiatives, has embarked on developing an ICT Development Strategy. The strategy has identified 68 prioritized ICT Investment Opportunities in Qatar in the next three to five years. The Industry Development Division of ictQATAR, mandated with promoting these opportunities, is well placed to educate and share its in-depth knowledge of these opportunities with all interested stakeholders. Following are the 68 prioritized ICT Investment opportunities.
So if we are to achieve this and reap its benefits, we all have to play an important role be it as an investor, technology provider or even as consumer. If you ask specifically who or which group in Qatar could benefit from this investment opportunities, here’s the answer. If you belong to one of the six types of entities listed below, these opportunities could be just right for you.
- Private sector and international companies can develop, or support in developing new opportunities, provide know-how, establish partnerships and joint ventures between international and Qatari companies.
- Entrepreneurs & innovators can kick-start businesses in innovative opportunities, providing new solutions and offerings to the market.
- Investors and fund providers can provide funds and invest in the development of innovative opportunities.
- Sector developers & enablers can ensure quality and availability of services, and facilitate solutions development.
- Experts & academics can provide technical expertise, support and know-how to developers, share research results.
- Consumers can provide constructive feedback to ensure quality and diversity of offering.
So if you are one of the above immensely important potential contributors to the growth of IT and communications in Qatar, and if you are as excited about of any of these 68 investment opportunities as we are, call us. To dive deeper into these areas of future development, contact Jalal Daham, ICT Strategy Specialist, ictQATAR at email@example.com.