According to a report by Acess Partnerships, the platform’s recent introduction of Google Cloud goods and services in Qatar is expected to generate US$18.9 billion (QR68.81 billion) in Gross Economic Output (GO) by 2030. The region will be turned into a technological centre as part of the government’s efforts to execute digital transformation and a knowledge-based economy in accordance with Qatar National Vision 2030.
Nevertheless, according to a research by Fitch Solutions, “the policy stipulates for establishment of strong digital infrastructure with internationally agreed-upon standards and policies leading to a more efficient economy.”
According to the report, Qatar is advancing its laws and policies in the fields of technology and cybersecurity, including by allocating a budget of QR5.97 billion “to protect the 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 organizations benefit from highest levels of protections,” it says.
The Ministry of Communications and Technology (MCIT) and Google Cloud’s important relationship, according to Fitch Solutions, will hasten the implementation of advanced machine learning and data analytics. An agreement was made last year between Google Cloud and Qatar Financial Centre (QFC) to develop a cutting-edge software platform for the banking and insurance industries.
According to the paper, Qatar has a lot of hydrocarbon resources for energy production, which will increase the availability of electricity and gasoline while cutting end-user costs. Thus, the market is attractive to businesses that use a lot of energy. Additionally, it has a thriving information and communications technology industry that provides cutting-edge services and quick connection speeds, helping to attenuate some of the very high fixed broadband prices in the nation.
“Qatar’s lack of replenishable freshwater resources is the main downside risk for the utility sector,” it continued. Nevertheless, to avoid any water shortages, Qatar keeps making significant investments in desalination facilities.
Google Cloud representatives stated in an interview with The Peninsula that Qatar is aiming to transform its economy with a variety of tech-based innovative products.
The exceptional collaborations in the nation were highlighted by Ghassan Kosta, the national manager for Google Cloud in Qatar, who also noted that “our connection with all the regulators here in Qatar, like the CRA and MCIT, remains solid. We are thrilled to have a cooperation and eager to expand outside Qatar to other areas.
According to Tarek Khalil, Director of Middle East and North Africa at Google Cloud, “We have aligned our objectives and vision with the Qatar National Vision 2030 where transformation sits as a top priority on their agenda.”