The Investment Promotion Agency Qatar (IPA Qatar) announced today the signing of new Memorandums of Understanding (MoUs) with two international companies, Siemens and Emerson, on the sidelines of the Qatar Economic Forum, Powered by Bloomberg.
The new partnerships will play a role in facilitating the establishment of a centre of excellence in Lusail City, adding significant value to the State of Qatar's talent ecosystem and leadership in technological and software design.
IPA Qatar's partnership with Siemens establishes the foundation for collaboration in the development of sustainable infrastructure projects in Qatar, leveraging Siemens' expertise in infrastructure, industry and mobility. The collaboration aims to strengthen cooperation in key sectors, such as vertical farming, smart cities, and transportation.
According to the agreement, Siemens is committed to fostering local talent and plans to increase its workforce to exceed 300 full time employees. This will facilitate knowledge transfer and create new opportunities, contributing to the growth and development of Qatar's workforce.
The MoU with Emerson will accelerate the expansion of automation technology and industrial software excellence in Qatar. IPA Qatar will support Emerson in its development of a Centre of Excellence in Lusail City, which will serve as a central hub for fostering innovation, sharing technology best practices, and nurturing local talent in key industry sectors, such as energy utilization.
The agreements were signed by HE CEO of IPA Qatar Sheikh Ali Alwaleed Al-Thani; Member of the Managing Board of Siemens AG and the CEO Smart Infrastructure Matthias Rebellius; and Vice President of Emerson for the Northern Region - MEA Walid Samara.
Commenting on the signing, the CEO of IPA Qatar said: "The new strategic partnerships with Siemens and Emerson are a significant step forward for IPA Qatar in achieving our mission to attract foreign direct investment and promote economic growth in Qatar. By collaborating with global leaders in technology, finance and innovation, we can create new opportunities for our local businesses and help them compete on a global scale. We are confident that these partnerships will lead to mutually beneficial outcomes and look forward to working closely with our new partners to drive sustainable economic development in Qatar." CEO of Siemens in Qatar Hakan Ozdemir said: "We are happy to collaborate with IPA Qatar and embark on this partnership, as it signifies our strong commitment to collaboration and contributing to the digital transformation in Qatar. Together, we will contribute to Qatar's position as a leading business location for the technology sector in the region, by leveraging our expertise and working closely with local partners. Our aim is to make significant advancements in digitalization, sustainability, and alternative energy solutions, creating a brighter and more sustainable future for Qatar through this collaboration." The Vice President and General Manager of Emerson for the Northern Region said: "We are excited to partner with IPA Qatar in supporting the development of a vibrant Qatar Economy. Over the years, Emerson, as a leading automation technology and industrial software provider, has supported Qatar's hydrocarbon industry and its position as a leading LNG producer and exporter in the world market. The development of our Centre of Excellence will unlock opportunities for industry collaboration in innovation, local talent development and the sharing of technology best practices." Cementing Qatar's global profile as a thriving and supportive global business hub, IPA Qatar remains committed to expanding its strategic collaborations with international companies, further enabling them to deepen their footprint in Qatar, access lucrative opportunities across diverse sectors, and drive economic diversification.
The Investment Promotion Agency Qatar (IPA Qatar) oversees investment promotion activities under the Invest Qatar brand and acts as the country's umbrella organization for FDI attraction. Through its close coordination with Qatari licensing platforms, it helps businesses advance their ambitions and achieve long-term success by delivering the support, advice and expertise needed.
Source: Qatar News Agency