Qatar’s digital investments in 15 priority technologies, including artificial intelligence (AI), Internet of Things (IoT), and cybersecurity, are projected to reach $5.7 billion by 2026, up from $1.65 billion in 2022.
According to a new report released by the Investment Promotion Agency Qatar (Invest Qatar) titled ‘Smarter Qatar: Embracing Emerging Technologies and Innovation, Improving Lives and Driving a Sustainable Digital Economy,’ Qatar demonstrates a strong commitment to leveraging cutting-edge technologies as part of its smart country transition.
Read more: Microsoft to invest $18 billion in Qatar over 5 years
Invest Qatar has collaborated with @MCITQatar to launch a joint report titled ‘Smarter Qatar: Embracing Emerging Technologies and Innovation, Improving Lives and Driving a Sustainable Digital Economy. https://t.co/K2SkE249GM pic.twitter.com/7zkIcg3C4n
— Invest Qatar (@Investqa) February 25, 2024
The paper, launched in collaboration with the Ministry of Communications and Information Technology (MCIT), emphasizes initiatives aimed at capitalizing on the rapidly growing global smart city market, which is predicted to approach $7 trillion by 2030. Additionally, the release of the report coincides with the upcoming Web Summit Qatar, the largest technology event in the region, underscoring Qatar’s supportive ecosystem for the development of emerging and advanced technologies.
Qatar’s conducive environment for technology innovation is further strengthened by significant government investments and comprehensive incubation and acceleration programs that provide support to entrepreneurs and small and medium enterprises (SMEs). The country’s dedication to digital transformation is exemplified by initiatives such as MCIT’s TASMU Smart Qatar, which promotes a digitally enabled economy.
Invest Qatar CEO Sheikh Ali Alwaleed al-Thani commented that the joint report serves as a testament to Qatar’s unwavering commitment and provides an inspiring blueprint for other countries embarking on their own smart city and smart country initiatives.
Building future-ready smart cities
Qatar is recognized as a leader in building future-ready smart cities. It boasts the world’s first commercially available 5G network and holds the top rank globally for internet adoption, with nearly 100 percent internet penetration. Furthermore, the country has made substantial investments in projects like Msheireb Downtown Doha and Lusail City, which aim to create sustainable environments aligned with the Qatar National Vision 2030 (QNV 2030). Lusail City integrates smart technologies into energy-efficient buildings and intelligent transportation solutions, while Msheireb Downtown Doha incorporates smart infrastructure to establish a connected and environmentally conscious urban center.
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