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The Qatar Investment Authority’s (QIA) $1bn ‘fund of funds’, announced this year by HE the Prime Minister and Minister of Foreign Affairs Sheikh Mohamed bin Abdulrahman bin Jassim al-Thani, could catalyse venture capital (VC) activity in the country.This was among the main points industry experts agreed upon during a panel discussion titled ‘Venture Capital Unplugged: The Ecosystem and Funding Blueprint’ hosted recently by Startup Grind Qatar.Moderated by Salman Surti, programme lead at Qatar FinTech Hub (QFTH), the panel discussion highlighted insights from Alex Wiedmer, partner at Rasmal Ventures; Michael Lints, partner at Golden Gate Ventures; and Muhhanad Taslaq, director of investments at Alchemist Doha.Wiedmer underscored the significance of having “more funds on the ground” in attracting VCs, noting that this would translate to more entrepreneurs. He further stated that Qatar is following the successful model of other jurisdictions where governments actively support venture capital growth.He also explained that the impact of the fund of funds extends beyond direct investments: “Even if they don’t invest directly, these funds interact with the entrepreneur ecosystem. They advise, mentor, and attract more entrepreneurs to set up around where they are.”According to Wiedmer, Qatar witnessed “a sharp rise in entrepreneurial activity” in the last four years. Before the prime minister’s fund of funds announcement at Web Summit Qatar 2024, he emphasised that there have been other government initiatives that have contributed to the “increase in the sophistication of projects” across the country.Lints, on the other hand, drew parallels with Singapore’s experience in cultivating a thriving venture capital environment, citing the Technology Incubation Scheme (TIS), a government funding programme of the National Research Foundation (NRF) established in 2009. He said the impact of the TIS was significant in the “massive growth” in the number of Singapore’s VCs to almost 400 in over a decade.Speaking on the QIA’s fund of funds initiative, Lints acknowledged its positive impact, saying: “It’s good for Qatar and the ecosystem. It’s brought a lot of attention from global funds. Today, many of them are looking at Qatar.”But Lints also cautioned about the importance of balanced growth in the venture capital ecosystem, citing the importance of the need for “a mixture of funds that are on the ground.Meanwhile, Taslaq underscored the importance of collaboration in building Qatar’s startup ecosystem. “One of the great things that we agreed on when we started Alchemist Doha is that we’re not here to compete with anybody. We want to work and collaborate with everybody,” Taslaq emphasised.“Any incubation centre or accelerator in Doha is a potential partner with us. So, we’re not competing with them; we want to work with them and support the ecosystem,” Taslaq explained, saying this collaborative approach extends to all players in the ecosystem.Highlighting Alchemist Doha’s vision for Qatar, Taslaq said: “The whole vision here is to transform Qatar into a hub for tech startups for the benefit of entrepreneurs, and that doesn’t happen without partnerships. This approach involves engaging with various stakeholders, including venture capital firms.”

A delegation of Qatari companies specialising in landscape materials and heavy-duty equipment will be representing Qatar in the International Agricultural and Gardening Machinery Exhibition (EIMA International 2024), slated from November 6 to 10 in Bologna, Italy.According to Italian Trade Commissioner Paola Lisi, the participation of Qatari companies during EIMA International 2024 reflects robust Qatar-Italy ties in the field of industry, among others.“Their trip to Bologna will therefore contribute to enhancing and strengthening commercial and industrial bilateral co-operation between Italy and Qatar,” Lisi told Gulf Times in a statement.She added: “We truly believe that the participation of the Qatar delegates at the upcoming EIMA International 2024, as part of the business mission organised by ITA Doha – Trade Section of the Embassy of Italy, in co-operation with the organisers of the exhibition, will provide them with an exclusive opportunity to learn about the latest technologies and solutions in agricultural machinery.”Lisi’s statements came on the heels of the recently held international press conference in Italy, where top officials, including Lorenzo Galanti, CEO and Managing Director of the Italian Trade Agency (ITA), expounded on the significance of EIMA International 2024, which highlights Italy’s strong position in the global agricultural machinery sector.In his speech, Galanti underscored EIMA’s importance as a leading international exhibition and highlighted the ITA’s role in promoting the event, which will have a special focus on African operators for this year’s edition.In a video message, Francesco Lollobrigida, the Minister of Agriculture of Italy, emphasised the government’s commitment to supporting the agricultural sector, specifically citing technological advancement and environmental sustainability.The minister highlighted significant investments in the sector and emphasised that the upcoming G7 event in Ortigia, Sicily, will serve as an opportunity to showcase Italian excellence in the field of agriculture and machinery.Lollobrigida noted that a new competitive bid for the agricultural sector “will be announced soon,” adding that there are also plans to connect buyers with Italian businesses during the G7 event in Ortigia.Citing challenges and opportunities, the minister also emphasised the need to balance technological advancement with environmental sustainability, maintaining production levels while reducing environmental impact, and promoting ‘Made in Italy’ products to the global market.In another video message, ITA President Matteo Zoppas underlined the agency’s vital role in Italy’s agricultural machinery sector, particularly in promoting Italian agritech to global markets, as well as its responsibility in supporting small and medium businesses in their internationalisation initiatives.Citing 2023 statistics, Zoppas said 216 businesses were involved in last year’s activities with 400 buyers and 40 journalists brought to EIMA. Some €10bn in exports for the sector was recorded in 2023, registering a 10% export growth compared to previous years, he added.Mariateresa Maschio, the President of FederUnacoma, lauded the role of the ITA in supporting Italian agri-industrial firms to get access to international markets, saying EIMA International 2024 plays a key role in the global agricultural machinery industry. FederUnacoma General Manager Simona Rapastella, on the other hand, highlighted EIMA’s international reach and focus on various state-of-the-art technologies.

Canadian companies are expected to gain vital insights into ‘Doing Business in Qatar’ from an upcoming webinar that will explore key sectors like high tech, artificial intelligence (AI), and solar energy, among others, an official of the Canadian-Qatari Business Forum (CQBF) has said.Slated on September 10, the webinar will be hosted by the Government of Ontario, in collaboration with the Canada Trade Commissioner Service in Qatar and the CQBF, said Yasser M Dhouib, the forum’s executive director and board member.According to Dhouib, the event will provide participants with “valuable insights” into the dynamics of the Qatari market, including that of neighbouring nations in the Gulf Co-operation Council (GCC) region. Participating key entities from Qatar include the "Ministry of Communications and Information Technology", Invest Qatar, and Qatar Financial Centre, he said.Dhouib also noted that the webinar will serve as a networking platform for companies in Qatar and Canada, as well as open potential investments in the areas of manufacturing, robotics, healthcare, clean tech, transportation, AI, energy, finance, agri-food, and retail.“The webinar will help participants to explore opportunities in one of the world’s fastest-growing economies, connect with leaders and decision-makers from Qatar and the GCC, and discover investment prospects in cutting-edge industries,” Dhouib explained.Dhouib told Gulf Times earlier that the CQBF’s participation in webinars and other international events “demonstrates how the forum can catalyse growth,” citing the Web Summit Qatar held in Doha last February.“The forum’s participation in Web Summit Qatar is certainly an important opportunity to bring several Canadian companies to the country for a full-fledged outreach in the Qatari business market and beyond the region...From technology to healthcare, energy to finance, the forum envisions a comprehensive collaboration that transcends industries,” Dhouib pointed out.Only recently, Dhouib said the CQBF participated in a summer event hosted by the Club Canadien de Toronto, which gathered business leaders, diplomats, and entrepreneurs and also served as a networking platform and opportunity for stakeholders in the Canadian and Qatari business communities to collaborate and forge stronger relationships, he also said.Dhouib emphasised that the CQBF’s presence at the event underscored its role as a frontrunner in facilitating Canada-Qatar trade, as well as potential partnerships and collaborations between both countries.“This is a key event for the business community in Ontario and across Canada. At CQBF, we believe that the potential for increased business opportunities and investments between Qatar and Canada is incredibly promising.“As we approach the 50th anniversary of diplomatic relations between our two nations in 2024, this extraordinary event serves as a prelude to more successes and achievements to come,” Dhouib stressed.Underlining the CQBF’s role as a bridge between Canadian firms and Qatar’s expanding economy, Dhouib said the The summer event helped both countries’ business communities explore investment prospects and opportunities to expand their footprints in international markets.

The president of Nokia’s Cloud and Network Services has underscored the strong alignment between Qatar’s digital agenda and Nokia’s innovation roadmap, signalling the potential for an expanded partnership.In an exclusive interview with Gulf Times, Raghav Sahgal lauded the significant strides made by Qatar in its digitalisation journey, saying, “Qatar has done a great job in terms of its digital journey and its commitment towards this strategy, making the country a digital society.”Sahgal emphasised that Nokia’s global expertise could play a significant role in shaping the digital future of Qatar, which continues to position itself as a tech hub in the Gulf region.According to Sahgal, Nokia’s role in Qatar's digital transformation extends beyond providing network infrastructure. “We are driving digitisation not only in the networks itself,” Sahgal explained, adding that Nokia has developed software to address key automation aspects and connect infrastructure to the broader ecosystem.Sahgal also underscored Nokia’s crucial role during the 2022 FIFA World Cup in Qatar, saying the company was a “very big partner” for all its customers in the country and that it “played a great part” in delivering a good digital experience during the international sporting event.Asked about artificial intelligence (AI) and its impact on Nokia-Qatar ties, Sahgal noted that the company is actively working on both classical AI and generative AI solutions. “We are driving that aggressively into the market,” he said, emphasising the responsible use of these technologies.“Classical AI is already in play, while generative AI is a new kind of innovation coming across globally, but we play in both of these spaces. While generative AI is still in incubation, with its use cases being developed, we believe that this technology is here to stay. It will continue to get better, and we have to embrace it responsibly.Regarding smart city development, Sahgal highlighted how Nokia’s 5G solutions could contribute to Qatar’s efforts. “5G will play a good role in smart cities and the industrial and enterprise side, and eventually on the consumer side, as well,” he noted.Looking ahead, Sahgal sees potential synergies between Nokia’s cloud solutions and Qatar’s growing data centre industry. “We have solutions in Nokia that directly address data centres,” he said, adding that Nokia could contribute both technologies for data centres and innovations in areas like generative AI.On cybersecurity, Sahgal emphasised the importance of secure autonomous operations in digital infrastructure. Citing Nokia’s NetGuard Cybersecurity Dome portfolio, Sahgal stressed that the company “has invested heavily in looking at security on an end-to-end basis of a network.”On the potential for future collaboration, Sahgal underscored the alignment between Qatar’s and digital agenda Nokia’s innovation roadmap, saying, “There’s a general convergence of strategy, which is what makes this very useful for us in terms of driving our strategy.”

A deep dive into clean hydrogen, smart agriculture, and political and diplomatic relations will be among the discussions that will highlight the upcoming ‘Korea-Qatar 50th Anniversary Future Forum,’ which is slated for September 12 in Doha.Under the theme ‘50 Years and Beyond’, the Embassy of the Republic of Korea in the State of Qatar will host the event to commemorate the 50th anniversary of the diplomatic relationship between South Korea and Qatar.“This forum will provide a stage to consolidate discussions on the bilateral relationship to date and lay the foundation for future co-operation,” stated the embassy, which will invite officials and experts from government, academia, and the private sector to facilitate discussions on diverse areas of co-operation between South Korea and Qatar.According to the embassy, the forum will comprise two sessions: ‘Korea and Qatar, a 50-Year History of Successes and Challenges’ and ‘Beyond 50 Years, Toward Further Possibilities’.In the first session, speakers will reflect on the robust co-operation between South Korea and Qatar over the past 50 years, focusing on two major areas: Politics and economy. A presentation on the political sector will highlight achievements in diplomatic relationships followed by another presentation on economic co-operation, particularly in the energy sector, which has profoundly impacted the bilateral relationship.Following the presentations titled ‘Korea-Qatar Co-operation in an Era of Geopolitical Upheaval’ and ‘50 Years Together, Building the Future: Economy and Security Co-operation between Korea and Qatar’, speakers will engage in a discussion to further explore these topics.Experts will lead the second session from various fields relevant to future areas of collaboration. Taking note of the multiple MoUs inked during President Yoon Suk-yeol’s state visit last year, South Korea and Qatar have committed to expanding co-operation into new sectors, including food and agriculture, renewable energy, and health. Experts in these fields will share their insights deepening collaboration in these areas.The presentations during the second session are titled ‘Korean Smart Agriculture Technologies for Qatar’s Food Security’, ‘Korea’s Clean Hydrogen Certification Scheme’, and ‘International Healthcare Business, From Korea to Qatar & From Qatar to Korea’.The embassy also stated that a luncheon will take place between the two sessions. During the luncheon, a member of a supporter group dedicated to promoting South Korean culture in Qatar will share a presentation on its public diplomacy achievements related to South Korea-Qatar relations.

Qatar Chamber chairman Sheikh Khalifa bin Jassim al-Thani has underscored the value of increasing efforts to strengthen economic and industrial co-operation amongst countries in the Gulf Co-operation Council (GCC).This elevates the GCC as a vital economic bloc on a global scale considering that Gulf countries have the capacity and a “strong will” to realise this objective amid economic and geopolitical challenges in the international and regional arena, he pointed out.Sheikh Khalifa made the statement in Al Moltaqa, the chamber’s monthly economic magazine, where he underscored the significance of economic and industrial integration amongst GCC countries – a primary goal for all Gulf nations.“Through it, we can form this regional economic bloc that can impose itself on the global economic arena, which witnesses many regional blocs. Moreover, economic integration, if it is achieved, will contribute to attracting more foreign capital to the countries of the region,” Sheikh Khalifa emphasised, citing the launch of the ‘Made in the Gulf’ initiative during the Consultative Meeting between their Excellencies the GCC Ministers of Commerce and Industry and the Heads of the GCC Chambers of Commerce held in Doha last May.“There is no doubt that the Gulf private sector plays an important role in enhancing the economic co-operation between the GCC countries by increasing its contribution to economic activity and reflecting this on intra-Gulf trade and raising it to higher levels, in addition to enhancing co-operation between business sectors in the Gulf countries,” he said.Sheikh Khalifa explained that ‘Made in the Gulf’ aims to promote economic integration of industrial development and maximise the benefit from the “positive mental image” of products from Gulf countries.He said the initiative also supports increasing joint projects of the Gulf private sector and public and private partnerships, in addition to optimally utilising the more than 60 economic zones in the GCC.Sheikh Khalifa also expressed confidence that ‘Made in the Gulf’ will usher in trends in the GCC that would realise economic citizenship, streamline customs procedures for Gulf products, encourage local and foreign investments in the industrial sector, and boost the efficiency of the special economic zones in GCC countries.He added that the initiative will help promote industrial development in the GCC, maximise the volume of investments in the Gulf industrial sector, contribute to achieving Gulf industrial development on an integrated basis, and increase the industrial sector’s contribution to the gross domestic product in GCC countries.

The volume of real estate transactions in Qatar stood at QR8.16bn in the first six months of 2024, a top official of the Real Estate Regulatory Authority (Aqarat) announced Sunday.Aqarat president Khalid bin Ahmad al-Obaidli emphasised in a press conference that this milestone reflects the increasing strength and attractiveness of the country’s real estate sector.In a speech, al-Obaidli explained that the “unprecedented growth” witnessed by Qatar’s property sector was driven by several factors, including the QR2.6bn budget surplus achieved in the second quarter of the year, a 1.2% year-on-year increase in Q3 2023, and a 4% increase compared to the second quarter of last year.According to al-Obaidli, Qatar also topped the 2023 Global Peace Index (GPI) for the fifth consecutive year, indicating that all these factors contributed to the increase in the volume of real estate transactions during H1 2024.Al-Obaidli emphasised that the Aqarat’s responsibility “is to maintain this momentum, especially since this thriving sector is an essential element of the economic development scene in the country” and that the authority “seeks to further stimulate this vital sector by encouraging innovation and attracting investments, which lays the foundations for a sustainable and prosperous future.”“Aqarat’s vision is clear and revolves around the precise regulation of the sector and the application of the highest standards of governance, and ensuring that all transactions are based on integrity and transparency,” al-Obaidli further explained, noting that the regulations it has developed aim to protect the interests of all parties concerned while promoting sustainable growth in the long term.Al-Obaidli noted that Qatar’s position as a “prestigious global investment destination” is a “well-known fact,” adding that the country offers “unparalleled opportunities, world-class infrastructure, and a supportive business environment to attract more global investments.”Highlighting Sunday’s event was the signing of a memorandum of understanding (MoU) between al-Obaidli and Informa Tharawat vice president Chris Speller for the launching of the ‘Qatar Real Estate Forum’ and ‘Cityscape 2024’ slated from October 13 to 15 in Doha.Al-Obaidli lauded His Highness the Amir Sheikh Tamim bin Hamad al-Thani for prioritising Qatar’s real estate sector. He said this visionary approach has driven remarkable progress in recent years through strategic legislation and substantial infrastructure investments.“These initiatives have provided a significant boost in the real estate sector’s contribution to Qatar’s economic growth and development. This MoU represents our commitment to fostering a more dynamic and transparent real estate market, further cementing Qatar’s status as a global investment destination. It is more than just a commercial agreement – it is an open invitation to investors worldwide to join us in shaping a future brimming with opportunities,” al-Obaidli added.Speller said, “Signing this MoU with Aqarat comes in response to the growing demand in Qatar’s real estate sector. Through this partnership, we aim to create a streamlined pathway for investors to capitalise on the lucrative investment opportunities within real estate projects. Qatar’s world-class infrastructure is not just a source of inspiration. It also elevates the country’s standing as a prime destination for investors.”The Qatar Real Estate Forum and Cityscape 2024 will bring together real estate experts and stakeholders from around the world, establishing it as a premier event for knowledge sharing, expertise exchange, and exploring future trajectories within the real estate sector, while showcasing various opportunities within this growing industry.Qatar’s real estate sector is a key pillar of the nation’s economic landscape, characterised by its sustained growth and promising future. Built on a foundation of economic stability and supported by an innovative regulatory framework, the sector has helped position the country as a premier destination for investors seeking reliable returns and long-term value creation.This aligns with the Third National Development Strategy 2024-2030, which aims to cultivate a world-class investment environment conducive to business growth and diversify the national economy.Ends

Companies in Qatar stand to gain from participating in the upcoming Malaysia International Halal Showcase (MIHAS 2024) slated from September 17 to 20 in Kuala Lumpur, an official of the Malaysia External Trade Development Corporation (MATRADE) has said.Dubai-based MATRADE trade commissioner Megat Iskandar Ahmad Dassilah emphasised that Malaysia’s commitment to innovation and sustainability in the Halal industry will be strongly reflected in this year’s edition of MIHAS 2024.Under the theme ‘Globalising Halal Innovations’, Dassilah said the event will be positioned as the leading platform for global Halal companies to showcase their most innovative Halal products, services and technologies through 14 curated clusters.The event which is hosted by the Ministry of Investment, Trade and Industry (MITI) and organised by the Malaysia External Trade Development Corporation (MATRADE), will run from 17 to 20 September 2024 at the Malaysia International Trade & Exhibition Centre (MITEC), Kuala Lumpur, Malaysia.Dassilah noted that as a globally recognised event, MIHAS stands as a testament to Malaysia’s pioneering role in the Halal industry, supported by its well-developed Halal ecosystem. He said the event symbolises two decades of dedication to fostering trade and innovation within the Halal sector, solidifying its position as a key platform for showcasing Halal products and services.He urged Qatari companies looking for quality Halal products and services to visit MIHAS in Kuala Lumpur: “Our office in Doha is ready to assist Qatari companies to be connected with reliable Malaysian exporters of Halal products and services.” According to Dassilah, the latest edition of MIHAS, which pushes for greater innovation within the global Halal ecosystem, will not only solidify Malaysia’s position as the global hub for the Halal industry but is also in line with the objectives of the country’s ‘New Industrial Master Plan 2030’ (NIMP 2030) and the ‘Halal Industrial Master Plan 2030’ (HIMP 2030).He stressed that the emphasis on innovation and sustainability leverages the NIMP’s focus on transforming Malaysia’s economy by fostering economic complexity, advancing technological innovation, pursuing net zero emissions, and ensuring economic security and inclusivity, which are pivotal in Malaysia’s drive towards sustaining its leadership within the dynamic global Halal ecosystem.“Recognised as one of the high-impact industries in the ‘12th Malaysia Plan’ (12MP), Halal plays a pivotal role in Malaysia’s overall development. The elements of innovation and sustainability will be showcased in the products and services promoted during MIHAS 2024. These product segments include pharmaceuticals, Islamic finance, fintech, lifestyle, modest fashion, food ingredients, and related services.“The overall emphasis will be on the value-added component and the value chain integrity offered by the Halal ecosystem. Halal certification instils trust among global consumers and is often in line with Environmental, Social and Governance (ESG) expectations,” Dassilah explained.Since its inception in 2004, Dassilah said MIHAS continues to attract numerous buyers, distributors, and investors worldwide. Serving as a comprehensive hub, it offers businesses a platform to showcase the latest trends and technologies in the Halal industry, facilitating market expansion opportunities.“By providing insights into market developments and consumer preferences, MIHAS is proven to be an enabler for businesses to stay abreast of industry advancements and maintain competitiveness in the global Halal market. This year, the showcase aims to attract over 40,000 trade visitors and feature 2,000 exhibition booths from 45 countries, including Malaysia,” Dassilah emphasised.In addition, the MIHAS Knowledge Hub returns, offering a series of conferences, forums, and seminars which focus on providing insights into trends, market access and sourcing requirements with leading keynote speakers, industry experts, and thought leaders. This initiative aims to provide an invaluable platform for the global Halal business community to exchange experiences and insights relevant to the industry.According to Dassilah, MATRADE’s collaboration with industry partners ensures the ongoing relevance and success of MIHAS. These initiatives highlight MIHAS’ commitment towards innovation, which has been recognised by the global trade community by awarding MATRADE with the World Trade Promotion Organisation (WTPO) Award for ‘Best Use of Information Technology’ in 2022.As part of its internationalisation strategy, Dassilah said MIHAS will make its debut in the Middle East this year with MIHAS@Dubai, which will take place alongside the Middle East Organic and Natural Product Expo in Dubai from November 18 to 20.“This landmark initiative is set to elevate the brand significantly and leverage the immense potential of the halal industry in the region. The inaugural event will feature 150 to 200 participants from small, medium, and large-scale companies, presenting a diverse array of Malaysian halal products and services,” Dassilah added.

The Department of Trade and Industry (DTI) in the Philippines is keen to play an active role in facilitating knowledge sharing and technology transfer between Qatari businesses and their Filipino counterparts, an official has said.DTI Secretary Alfredo E Pascual noted that the agency has initiated several “interventions,” such as innovation and entrepreneurship, artificial intelligence (AI) and research and development (R&D), Industry 4.0 and advanced manufacturing technologies, a National Innovation Gateway, and a Startup Development Programme.Pascual’s statements reflect the Philippines’ plan to strengthen economic and trade ties with Qatar, which was pursued, particularly during the DTI’s high-level discussions with Qatari officials and businesses held on the sidelines of the Qatar Economic Forum (QEF) held in May. During the forum, Pascual participated in a panel discussion on ‘Creating Competitive Economies’, where he showcased the Philippines’ economic growth.“We support knowledge sharing and technology transfer by positioning the Philippines as a manufacturing hub, innovation hub, and centre for training and education in the region,” Pascual told Gulf Times.According to Pascual, some of the DTI’s interventions include the establishment of Regional Inclusive Innovation Centres (RIICs), which aim to connect and integrate the Philippines’ innovation and entrepreneurial ecosystem with a network of innovation partners from industries, universities, government, startups, and investors, among others.“It also seeks to commercialise research that aligns with market demands, enhance regional competitiveness, and create better employment opportunities and sustainable economic prosperity in various regions,” said Pascual, adding that the DTI has already established 13 RIICs in 11 regions across the Philippines.In the pipeline are two initiatives that focus on enhancing AI adoption in the Philippines, such as the National Centre for AI Research (NCAIR) and the Industry 4.0 Pilot Factory (I4PF).Pascual explained that the NCAIR is envisioned as a partnership between the government and the private sector to perform collaborative AI R&D and technology applications, offer consultancy services and AI tech products, conduct data literacy programmes, and attract leading global firms to set up R&D activities.“This is seen to serve as a technology provider and research leader in areas like precision agriculture, smart city, resilience technology, and smart manufacturing,” Pascual further explained.On the other hand, Pascual said Industry 4.0 Pilot Factory (I4PF) is projected to host pilot demonstrations and case applications of Industry 4.0 and advanced manufacturing technologies that local large enterprises, MSMEs, and the academe can access.“It can also house pilot, demonstration, and learning laboratories for innovative products, modern technologies, and digital processes, as well as serve as a training and research hub where industries can have insights and hands-on experience on various Industry 4.0 applications,” he said.Pascual said the ‘DTI National Innovation Gateway’, a collaboration initiative between DTI and the Asian Development Bank (ADB), is one of the key components (currently in the pipeline) of the Promoting Research and Innovation to Strengthen Transformation of Industries and Enterprises (PRISTINE) Project.“The National Innovation Gateway aims to make Manila a Centre of International Innovation Collaboration, functioning as a symbiotic living laboratory for innovation, invention, and creativity,” he said.Pascual added: “Pursuant to the Innovative Startup Act or RA No 11337, this programme consists of several incubation, acceleration, and financing activities to support startup development in the country. Since 2017, we have promoted 121 Philippine startups in 26 international events in 10 countries.”While in Qatar for the QEF, Pascual met with HE the Minister of Commerce and Industry Sheikh Mohamed bin Hamad bin Qassim al-Thani to discuss ways to enhance bilateral economic ties, including key areas of co-operation.Pascual also met with two leading local firms, Qatar Cool and Baladna, to explore district cooling system opportunities in the Philippines and ways to boost the Southeast Asian nation’s self-sufficiency in dairy production.Similarly, Pascual emphasised that the Philippines has identified agribusiness/agriculture; energy efficiency technologies and renewable energy (RE); infrastructure and public-private partnership (PPP) projects, such as real estate development and logistics; AI; Information Technology and Business Process Management (IT-BPM); manufacturing; oil and gas; processed and speciality food (Halal food); and tourism, including hospitality, as specific sectors or industries that could be infused with investments from Qatar.

The Canadian-Qatari Business Forum (CQBF) is preparing key initiatives to explore trade and employment generation for Doha-based Canadian companies, as well as Qatar’s potential participation in a major tech conference in Montreal.According to executive director Yasser Dhouib, the CQBF will be working with the Ministry of Economic Development, Job Creation and Trade of the Government of Ontario, which will be hosting a webinar titled ‘Opportunities for Canadian Companies in the State of Qatar’ slated tentatively on September 10, 2024.Dhouib told Gulf Times that the ministry will promote the webinar through its extensive network of companies. He underscored the event’s significance, saying it aims to provide participants with an overview of the opportunities available for Canadian companies that want to tap and expand their footprint in the Qatari market.The event will be moderated by Eyad Qudsi, area director, Middle East and Africa, at the Ontario Ministry of Economic Development, Job Creation and Trade. Qudsi will be joined by Dhouib and Ibrahim Adelhamin, representing CQBF.“We are inviting the Canadian Embassy in Qatar to participate in this event. Also, we will be highlighting several upcoming events in Doha related to solar energy, artificial intelligence (AI) and technology in which CQBF will be participating,” Dhouib pointed out.Aside from the webinar, Dhouib said CQBF is also exploring the opportunity for Qatar to be profiled during the sixth edition of ‘MTL connect: Montreal Digital Week’, which will be held from October 15-18 under the main theme ‘Metamorphose’.Dhouib said: “This annual event is focused on AI, cybersecurity, culture and creativity, education, and digital inclusion. Last year’s groups, representing several other countries, notably France, Belgium, and Tunisia, were partners of the event.”According to its website: “MTL connect: Montreal Digital Week, is an annual international event organised by the non-profit organisation Montreal Digital Spring (Printemps numérique).“This gathering of entrepreneurs, researchers, decision-makers, industry players, and artists aims to provide an understanding of the challenges and issues of the digital revolution while presenting opportunities and offering solutions to take advantage of them. It’s also an opportunity for participants to expand their network and develop business relationships and collaborations.”The website added: “MTL connect takes a cross-disciplinary approach to the digital field, through its economic, social, cultural and environmental impacts on various sectors of activity.”

Qatar’s smart home market, valued at “$68.1mn” in 2024, is expected to reach “$116.7mn” by 2028, according to a Cityscape Qatar report that delves into several “trends reshaping the future.”“The household penetration will be 17.3% this year and 27.6% in four years,” stated the report, which discusses how tech-powered homes are transforming everyday life in Qatar. The influx of technological innovations has had a profound impact on the way we live our lives, on so many levels, starting with our homes.“Smart living is becoming a growing trend, thanks to the convenience and security smart homes offer. In addition, energy-efficient smart homes can also contribute significantly to sustainability,” reported Cityscape Qatar, the country’s real estate event slated from October 15 to 17 at the Doha Exhibition and Convention Centre (DECC).Citing a report by Statista, the Gulf Co-operation Council (GCC) smart home market will generate revenue worth “$754.9mn” in 2024. In four years, the expected market volume “will be an impressive $1.16bn.” Similarly, Research and Markets also reported that GCC smart home industry-related projects could reach “$1.11bn” by 2028.“Based on Statista Market Insights’ March 2024 data, security solutions make up the biggest share of the market. The demand for smart appliances and control and connectivity solutions is also strong. There’s also growing interest in smart gadgets that aid energy management, underscoring the country’s commitment to going green,” the Cityscape Qatar report stated.An SNS Insider report highlighted key factors that have been driving the growth of the smart home market.“Smart houses are intended to automate different household appliances and gadgets through the use of an in-built monitoring system, providing occupants with convenience, safety, efficiency, and security.“Lighting, security, temperature, and audio/video systems may all be monitored and controlled by a single interface system. Smart homes prioritise security, and modern security systems may inform homeowners of intruders and give room-by-room video even when they are not there,” the market research firm stated.In Qatar, smart home solutions providers like QSmart Soug and Al-Tamyeez Security Company are offering products to help transform Qatari homes, according to Cityscape Qatar.“The most common offerings include a suite of security-enhancing solutions, such as smart locks and surveillance systems. Automation systems designed to control lighting, temperature, curtains and entertainment - are also part of their catalogues.As these products are often accessible via smartphones, tablets, or voice commands, they help make everyday living more efficient and convenient. However, smart homes aren’t just about automating some aspects of domestic life. As stated, they can also promote energy efficiency and support a greener lifestyle,” Cityscape Qatar further reported.Citing initiatives in Qatar, the report stated that the country has been showcasing its commitment to expanding its smart home market over the past years. Apart from the emergence of smart home solutions providers, Qatar has seen global brands with local operations do their part in advancing this market, according to the report.“For instance, back in 2020, Vodafone Qatar unveiled its Digital Smart Home Consultancy to cater to customers seeking expert advice on smart home technology. The British telecom company has its own array of smart home devices - such as smart cameras and sensors - supported by a Wi-Fi mesh system.“Through this endeavour, Digital Smart Home Consultants customise smart home setups based on individual customer needs. Meanwhile, earlier in May, Schneider Electric and Msheireb Properties, Qatar’s leading sustainable property developer, inked a deal to explore smart city capabilities at Msheireb Downtown Doha,” the report stated.

CrowdStrike’s recent technical glitch, which caused a massive global IT outage, has highlighted the importance of localising proprietary solutions in Qatar, offering a significant opportunity for the country’s tech startup ecosystem.Sofiane el-Abdi, cybersecurity practice leader at KPMG Qatar, also said Qatar’s approach to data sovereignty and localisation had minimised the impact of the incident.CrowdStrike’s software update glitch had brought about havoc on computer systems worldwide, affecting banks, airlines, and other service-oriented sectors.He noted that Qatar, including other countries, “is not yet open” to export the country’s data or utilise the cloud beyond its borders. “This strategy helped ensure that most of the operations in Qatar continued smoothly, even as systems elsewhere were affected,” el-Abdi told Gulf Times in an exclusive interview on Wednesday.El-Abdi emphasised that there is potential for startups in Qatar to capitalise on this strategy, citing most solutions are being offered by the US and other countries in the region. “But you don’t have any Qatar security solutions, which presents a clear opportunity for local startups to develop and offer security solutions tailored to the needs of Qatari organisations,” el-Abdi pointed out.“CrowdStrike has handled the incident well. But at the same time, it’s also an opportunity for Qatar to invest in their own solutions,” el-Abdi stated, adding that this investment could attract new startups and drive innovation within Qatar, reducing dependency on international vendors.El-Abdi also emphasised the role of the Qatari government in providing support to tech startups in the country. At the same time, he also acknowledged the need to bring in expertise from outside the country to develop these technologies.According to el-Abdi, the ability to market these solutions internationally is crucial for their success. “Even if Qatar serves as an initial market, these solutions need a lot of research and development (R&D). And this R&D will need investments from companies,” explained el-Abdi, who also emphasised that a healthy company needs access to international markets to sustain growth and development.Asked about the impact of the CrowdStrike incident on future discussions during upcoming Web Summit Qatar conferences, el-Abdi said the summit is “a good opportunity” to focus on resiliency.“What happened earlier was an IT incident and not a cyberattack,” clarified el-Abdi, who emphasised that focusing on resiliency could help prepare organisations for future incidents, ensuring continuity of operations even in the face of IT outages or cyberattacks.Some of the key lessons from the CrowdStrike incident to enhance Qatar’s resilience against similar threats include enhanced testing, including local developer testing and fault injections, el-Abdi further explained, adding that “we need to have local testing with some on-site developers when it is needed.”He also recommended improving deployment strategies to avoid widespread impact and ensuring robust monitoring and error-handling processes. El-Abdi also underscored the importance of user involvement in cybersecurity measures. “The users also need to be involved in those controls,” stated el-Abdi, who also called for validation checks and customer controls to ensure that updates do not negatively affect individual systems.For supporting the digitalisation of Qatar’s small and medium-sized enterprises (SMEs), el-Abdi called for strategic platform development to ensure segregation between companies.“We need to ensure that we differentiate the platforms and to differentiate the architecture to keep some kind of isolation between all companies and all SMEs,” el-Abdi explained, adding that this approach would prevent widespread impact from any single incident affecting the entire ecosystem.

Najma Street’s short stretch between C-Ring Road and Mansoura Street, spanning about 950m, functions as a practical destination for people seeking various services and solutions.When taking a light walk from the Gulf Cinema Complex towards the compact traffic signal of Mansoura Street, one will observe that Najma Street mirrors other similar thoroughfares in and around Doha’s bustling communities.These streets, some of which are small arterial roads, are lined with shops that serve the everyday needs of many people, particularly residents of adjacent communities and nearby neighbourhoods, who provide brisk business to these establishments.Najma and its parallel counterparts across the country serve as a testament to the government’s strategic and well-executed urban planning, ensuring proper care and service for Qatar’s growing population.One can immediately notice that when dusk settles over the mostly beige-coloured buildings, Najma transforms into a melting pot of people and cultures.Many bachelors and labourers cap the working day with conversations over “Sulaimani” (black tea), coffee, or karak.These nightly get-togethers provide brisk business for the many cafeterias and small restaurants that populate the street.The colourful signage of business establishments that brightens Najma in the evenings gives its unique character and appeal to many customers – DIY enthusiasts and professionals alike – that troop the hardware stores, bicycle shops, building materials and contracting shops, and other small service-oriented enterprises.Looking for a mechanic for quick fixes and minor tune-ups?Najma has quite a number of auto repair shops. Not even a stone’s throw away are electronic repair and computer shops that provide different solutions – from malfunctioning gadgets, and broken air-conditioning (A/C) units, to maintenance and overhaul of old washing machines.As the summer season progresses, the hot weather and sweltering heat puts a lot of stress on residential A/C units.Najma’s A/C technicians are dispatched even at a moment’s notice to ensure that one’s daily comforts are swiftly restored.Barber shops, as well as currency exchange houses and pharmacies, are often busy with clients.There are also a few shops that offer specialised services, such as the replacement of house or vehicle keys, photocopying and printing, and studio photography.Grocery stores of varied sizes, a handful of candy shops, and fruit and vegetable stores also provide the necessities for everyone, thus the convenience of having these services so close by is invaluable.Some of the remaining shops fronting the small traffic signal at the end of the strip introduce motorists and pedestrians to nearby Mansoura Street, which is not only a haven for furniture and home accessories, but is complementary to the popular Souq Haraj.Earlier, Gulf Times reported the planned refurbishment of the historic Gulf Cinema Complex following a memorandum of understanding (MoU) signing between Qatar Museums and the Qatar Cinema and Film Distribution Company.The plans include Qatar’s first-of-its-kind Cinematique Museum and efforts “to restore its past grandeur while integrating contemporary advancements and technology”.Not only is the revival and refurbishment of Gulf Cinema seen as a game-changer, but local business owners in the area are anticipating new and larger crowds, boosting business and adding a unique cultural dimension to Najma’s offerings.

The Department of Trade and Industry (DTI) in the Philippines is actively working on enhancing market access for the country’s exports through free trade agreements (FTAs) and increasing the global mindshare of Philippine brands through the expansion and diversification of its exports and their destinations, an official has said.DTI Secretary Alfredo E Pascual told Gulf Times this initiative is part of efforts to promote the Philippines as an attractive investment destination for Qatari investors and other countries.Previously, Pascual met with HE the Minister of Commerce and Industry Sheikh Mohamed bin Hamad bin Qassim al-Thani on the sidelines of the the Qatar Economic Forum 2024 to discuss various topics further to strengthen the Philippines’ economic partnership with Qatar.The topics discussed during the meeting include the finalisation of the Philippines-Qatar Investment Promotion and Protection Agreement (IPPA) and the inaugural Philippines-Qatar Joint Economic, Commercial, and Technical Committee (JECTC) meeting in the first quarter of 2025.“With the continuous collaboration of DTI, our nation enjoys access to various markets, including the ASEAN market, the Regional Comprehensive Economic Partnership (RCEP), and the Philippines-Japan Economic Partnership Agreement (PJEPA), among others. These agreements underscore our commitment to fostering economic growth and international cooperation,” Pascual said.According to Pascual, the Board of Investments (BoI), the Philippine Economic Zone Authority (PEZA), and the attached agencies of the DTI are also responsible for the development of investments in the Philippines.“Leading the promotions of various industries and investment opportunities, the BOI and PEZA currently assist Filipino and foreign investors to venture and thrive in vast areas of economic pursuits and act as a one-stop shop in doing business in the Philippines,” Pascual further said.Asked for insights or updates on the DTI’s efforts to streamline processes and provide support services for Qatari companies interested in doing business in the Philippines, Pascual said the signing of Executive Order No 18 or the “Constituting Green Lanes for Strategic Investments” exemplified the administration of President Ferdinand “Bongbong” R Marcos Jr’s crucial reform in addressing investor pain points.“This whole-of-government approach tackles the bureaucratic hurdles across different agencies, specifically targeting clean energy, infrastructure, green metals, electric vehicles, and pharmaceutical industries.“We have facilitated the creation of a One-Stop Action Centre for Strategic Investments (OSACSI), which manages the ‘Green Lane’. As mentioned by President Ferdinand R Marcos Jr, services must be fast, projects must be completed on time, deadlines must be met as scheduled, and distress calls must be responded to without delay,” Pascual pointed out.As of May 9, 2024, Pascual said the OSACSI has approved a total of 64 projects worth $35.19mn (P1.9bn) – 55 projects in renewable energy, five in digital infrastructure and two each in food security and manufacturing.Asked about upcoming trade missions or business delegations planned by the DTI to further explore opportunities in Qatar, Pascual said aside from the JECTC in Q1 next year, the DTI regularly holds business matching initiatives in February every year.“The DTI, through its Export Marketing Bureau (EMB) and the Philippine Trade and Industry Centres (PTICs), regularly conducts outbound business matching missions to the Gulf Co-operation Council (GCC) countries, including Qatar,” he added.

The Philippines has implemented pivotal legislative reforms or “key economic liberalisation laws” as part of its transformative agenda to enhance its attractiveness for foreign direct investments (FDIs), such as those from Qatar and other countries.The government has embarked on a strategic shift to attract more FDI, fostering an environment more conducive for foreign investors and driving economic growth and development, said Alfredo E Pascual, the secretary of the Department of Trade and Industry (DTI).Pascual said these key economic liberalisation laws include the following: the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act (or Republic Act No 11534); Amendments to the Foreign Investments Act of 1991 (RA No 11647); Amendments to the Retail Trade Liberalisation Act (RA No 11595); Amendments to the Public Service Act (RA No 11659); Amendments to Section 19 of the Implementing Rules and Regulations of the Renewable Energy (RE) Act of 2008; RA No 11032 or the Ease of Doing Business and Efficient Government Act; Executive Order (EO) No 18, Series of 2023 Constituting Green Lanes for Strategic Investments; and revised guidelines and procedures for entering into joint venture (JV) agreements between government and private entities.In a previous interview with Gulf Times, Pascual identified several specific sectors or industries that could be infused with Qatari investments. These priority sectors include agribusiness/agriculture; energy efficiency technologies and RE; infrastructure and public-private partnership (PPP) projects, such as real estate development and logistics; Artificial intelligence (AI); Information Technology and Business Process Management (IT-BPM); manufacturing; oil and gas; processed and speciality food (Halal food); and tourism, including hospitality.Pascual emphasised that the CREATE Act harmonised the differing incentive packages offered by the Philippines’ various Investment Promotion Agencies (IPAs) into a single and unified incentive menu.“Through this, we aim at providing greater certainty to foreign investors as to ‘incentives availment’. We believe that this could also potentially help attract more FDIs in the country through the Strategic Investment Priority Plan (SIPP),” Pascual told Gulf Times.Through RA No 11647, Pascual said the Philippine government reduced the minimum paid-up capital requirement from $200,000 to $100,000 (subject to certain conditions on technology use and domestic employment, among others) for foreign investors to set up and fully own domestic enterprises, including small and medium-sized enterprises.“This is established under the Inter-Agency Investment Promotion Co-ordination Committee (IIPCC), which is tasked to integrate all promotion and facilitation initiatives to encourage foreign investments,” he said.Similarly, Pascual said RA No 11595 has lowered the minimum paid-up capital requirement from $2.5mn to $500,000.00 for foreign retail investors. This has enabled setting up foreign retail investments easier through the removal of the certification of pre-qualification requirements, the removal of the public offering of shares, and the reduction in the minimum investment requirement per store, he said.He said the Philippines has liberalised foreign ownership of projects engaging in exploration, development, and utilisation of solar, wind, hydro, and ocean resources to hasten the transition to RE resources.As of April 2024, the DTI, through the Board of Investments (BOI), has granted green lane endorsement to 59 projects, covering investments in manufacturing, digital infrastructure, and food security, among others amounting to P1.90tn.He said the Revised Guidelines and Procedures for Entering into JV Agreements between Government and Private Entities was designed to enhance competition for projects under JVs.“We work to enhance the performance of private sector parties and strengthen checks and balances to ensure the technical and financial viability of government projects,” Pascual added.

An official of a next-gen app development platform has stressed the importance of supporting Gulf-based entrepreneurs and expressed optimism about the GCC region’s potential for innovation and opportunity in the future.Varghese Cherian, chief revenue officer at Builder.ai, noted that while the Gulf region has an abundance of ideas, entrepreneurs and startup founders in the GCC still require guidance to transform their concepts into successful business ventures.In October 2023, Builer.ai signed a memorandum of understanding with the Dubai Chamber of Digital Economy, whose website stated that under the MoU, “the company will support the chamber’s ‘Create Apps in Dubai’ initiative by offering free prototyping to the app developer community and co-funding the winners of the ‘App Olympics’ competition to build a new mobile application in Dubai.”“We’re trying to bring the ecosystem together and making sure that startups are enabled by positioning Builder.ai as a key player in the development of the GCC region’s entrepreneurial landscape.“We intend to bridge the gap between the idea and execution stage... if things go well in the next three or four or five years, this region is going to be moving with ideas and opportunities,” Cherian told Gulf Times.In Qatar where the company is charting an ambitious expansion strategy, Builer.ai has participated in several top-level events, such as the country’s first-ever Web Summit Qatar.It is also engaging with different public and private sector entities, including the Qatar Science and Technology Park (QSTP) to mentor future entrepreneurs, as well as collaborations with Startup Grind for knowledge exchange and the sharing of best practices and experiences with different startups and entrepreneurs in the country.“One thing that we’re very conscious about is how difficult it is to be an entrepreneur. There’s a lot of struggle that happens to get to where we are, so one of the things that we have been doing is to go and talk to people in different forums.“We engage with different folks who are probably future entrepreneurs to guide them about the best strategies to utilise at whatever stage they are in to make sure they succeed,” Cherian further explained.Earlier, Startup Grind Qatar announced that it forged a strategic partnership with Builder.ai as part of joint initiatives to drive growth in the country’s startup community by utilising innovative technology solutions.Cherian said, “We’ve started the engagement with Startup Grind in Qatar, and we’re taking it to the global stage. We went and met the global team in the US and among our discussion is that there is a particular focus on the Gulf and that there is a need to engage more in the region.”Asked about Builder.ai’s upcoming plans in Qatar, Cherian added: “I think there are a lot of opportunities. We are engaging with a lot of entities. Probably in the next 12 months, you’ll hear a lot about the initiatives that we’re trying to achieve, whether it’s in the private sector, semi-government, or the government. We’re trying to make a lot of things impactful for Qatar.”

The country’s growing ecosystem is providing startup founders with the opportunity to utilise Qatar as a springboard for expanding their operations in the region or other international markets, according to experts from a Qatar-based venture capital (VC) fund manager.Alexander Wiedmer and Soumaya Ben Beya Dridje, partner and junior partner, respectively, at Rasmal Ventures, were part of a Startup Grind Qatar panel, which discussed Qatar’s growing startup ecosystem and how these small businesses have been scaling and commercialising over the last couple of years.According to Wiedmer, it is a “super exciting time” to set up shop in Qatar. He further discussed current developments in the country’s VC and startup ecosystem, particularly citing Qatar Investment Authority’s (QIA) $1bn “fund of funds” to attract VCs here.During the opening ceremony of the first-ever Web Summit Qatar 2024, HE the Prime Minister and Minister of Foreign Affairs Sheikh Mohamed bin Abdulrahman bin Jassim al-Thani announced the QIA’s billion-dollar investment in international and regional VC funds to support local and international entrepreneurs.Speaking at one of Web Summit Qatar 2024 panel discussions, QIA chief investment officer – Americas, Mohamed al-Sowaidi said the the QIA’s $1bn investment underlines Qatar’s attractiveness as a destination for international funds.Wiedmer emphasised that this fund of funds will lead to more local and international VCs in Qatar, which will in turn attract more entrepreneurs to the country.“Qatar has previously not received much attention in terms of innovation due to political reasons, but this is changing. There will be more VCs here. There will be more VCs from the outside looking at the companies in Qatar. And so it’s a very good time to set up a company in Qatar. I think it’s only looking up,” Wiedmer said.Similarly, Ben Beya Dridje pointed out the strategic advantages of establishing a startup in Qatar, especially for startups targeting regional clients. She noted that the country is an ideal springboard to the regional market and beyond for either local or international startups that want to grow and expand their operations.Ben Beya Dridje also underscored Qatar’s potential in specific sectors, citing for example energy tech. Despite Qatar’s small market size, she stressed that the country can be significant for certain industries.

Indosat Ooredoo Hutchison (Indosat) is looking to increase its active subscribers to 2mn in the next four years by capitalising on the home broadband $4bn market potential by 2028, a top official has said.Indosat president director and CEO Vikram Sinha spoke about the company’s plans for its home broadband business following the recent MNC Play acquisition, saying “the company’s home broadband business will become an increasingly important contributor to Indosat’s growth in the future.”In November 2023, Indosat announced the collaboration between Asianet (a Lightstorm Group entity) and PT MNC Kabel Mediacom (MNC Play), in bringing world-class digital experience to customers.“We recently moved to expand this business by acquiring MNC Play’s customer assets. That acquisition transformed the scale of our fibre-to-the-home business, adding around 300,000 customers and strengthening our offering to include Internet Protocol Television Services (IPTV),” he said.According to Sinha, the impact of the deal is expected to be “highly positive,” bolstering Indosat’s EBITDA from 2024 and solidifying the company’s position in the rapidly growing home broadband market. Currently, Indosat’s home broadband business is catering to over 339,000 customers across Indonesia, he noted.Sinha said, “During ‘IOH Capital Market Day 2024’, we shared that the home broadband opportunity will have a $4bn market potential by 2028. We aim to capture an 8% to 10% market share by growing our active subscribers to 2mn in 2028.”Two and a half years after the merger of Indosat and Hutchinson 3 Indonesia, Sinha said Indosat now has more than 100mn customers, making it “one of the only top 10 telcos worldwide with that number of subscribers.”He said Indosat delivered “remarkable achievements” after the merger and network integration in 2023. Over the last 30 months, Indosat already reached more than $400mn in annualised synergies.“We have completed most of the big integration initiatives, mainly around network integration, although there is still some work to do. Our performance is a testament to the success of the merger – our market cap has more than doubled, our share price has increased over 50% in the last 12 months, our Average Revenue Per User (ARPU) has increased, and we are delivering a sustainable net profit to our shareholders. We have the highest total shareholder returns at 56%, the highest EBITDA growth in APAC. These numbers should instil confidence in our collective future,” he said.Sinha added: “From day one, it was clear that this merger would benefit Indosat, our customers, our employees, and Indonesia. This strategic decision was driven by our purpose of empowering every Indonesian, not solely shareholder interests. The subsequent growth of the industry following our merger serves as a testament to its positive effects on the country and its people.”