Mubasher: The Qatar Financial Centre (QFC) has signed two memoranda of understanding (MoUs) with Paris EUROPLACE and Finance Innovation in a bid to boost the growth of Qatar's digital sector.
The agreements include the development of the GCC nation’s digital industry, the QFC said in a statement on Tuesday.
The deals also aim to exchange experiences in innovation trends, cross-promote start-ups in France and Qatar, and create appropriate incentive packages to attract international and local digital and technology firms to the Qatari market.
Paris EUROPLACE works on promoting the Paris financial marketplace, while Finance Innovation was founded by the French Ministry for the Economy and Finance in 2007 to improve the Paris financial centre.
The agreements, signed at the WISE@Paris Summit, are an “indication of the QFC's commitment to the important European and French markets,” managing director of business development at QFC Alanoud Bint Hamad Al-Thani said.
Qatar's digital infrastructure ranked the first globally in internet penetration in 2017, and came in at the ninth place globally in information and communications technology (ICT) adoption, according to the World Economic Forum global competitiveness report 2018.
The gas-rich nation announced plans to allocate $50 million to Kuwait Investment Authority (KIA) for investing in technology and digital economy in the region.
