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Posted On: 25 May 2009 12:21 pm
Updated On: 12 November 2020 02:09 pm

Qatar to lead IT sector in region

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With the very encouraging reports from various think-tanks and Qatar at the helm of development in different sectors, the country’s Information Technology (IT) industry is set to be one of the best performing in the region, an executive of a leading IT solutions provider said yesterday. Sergio Maccotta, Managing Director, SAP Middle East and North Africa (MENA) region was talking to the media on the sidelines of SAP’s ‘Best Run Now’ road show at the Ritz Carlton Hotel. Maccotta cited data from Business Monitor International (BMI) which forecast the Qatari IT Market to be buoyant in the next three years amid global crisis. “Latest report by the BMI predicts Qatari IT market size will increase to around $550m by 2012,” Maccotta said, attributing the significant rise to investment in IT infrastructure and various e-government and e-business initiatives led by ictQatar. Even with the difficult market situation, companies have not ceased investing in IT, since they perceive IT as a means to make their businesses even stronger, he explained, citing a recent study in which 75 percent of the respondents confirmed the same level of IT expenditure in companies. SAP witnessed a 62 percent first quarter growth compared to the same period last year, making the Middle East an emerging IT market. Qatar’s robust economy attracting the confidence of many investors also relies on the fact that the country’s economy is not only oil-based but also gas-based, Maccotta observed. “Qatar is the most competitive among Middle Eastern countries based on the World Economic Forum (WEC) Global Competitiveness Report for 2008 to 2009,” he explained why they chose Qatar to be the venue for the sixth edition of their road show. The latest WEC Report saw Qatar leapfrog economies in the MENA region ranking first in MENA and 26 among 134 countries included in the rankings. “The initiative will help companies be more efficient, fast, much more in control of cash flow, and much stronger in the current situation without increasing the cost of the ownership of IT solutions,” he said