The Qatari government and Facebook’s parent company Meta signed a cooperation agreement today.
Qatar’s Ministry of Communications and Information Technology and Meta will work together to help small- and medium-sized businesses in Qatar with the “digital transformation.” To this end, Meta has launched a virtual hub in Qatar for such businesses with training webinars on digital marketing. Several Qatari sports-, technology- and finance-related entities are supporting the project, including the Qatar Development Bank, the official Qatar News Agency reported.
Why it matters: Several Gulf states are working to increase the size of their digital economies. Several financial technology (fintech) firms moved to the United Arab Emirates this year. Earlier this month, Saudi Arabia awarded digital licenses for the first time to some companies.
Qatar is gradually moving toward a service economy. In 2011, industry accounted for 73.21% of the gross domestic product (GDP) while services accounted for 28.56%. In 2020, industry amounted to 52.33% while services were 52.74%, according to Statista.
Qatar’s wealth has traditionally come from energy. Oil and gas are responsible for around 40% of the GDP.
Know more: A group of activists asked Meta this month to change its content moderation policies in the Persian language, saying they make it difficult for people to share information during protests in Iran.
Business and policy professionals use PRO to monitor the regional economy and improve their reports, memos and presentations. Try it for free and cancel anytime.
Join over 50,000 readers who access our journalists dedicated newsletters, covering the top political, security, business and tech issues across the region each week.
Delivered straight to your inbox.
Free newsletters available:
- The Takeaway & Week in Review
- Middle East Minute (AM)
- Daily Briefing (PM)
- Business & Tech Briefing
- Security Briefing
- Gulf Briefing
- Israel Briefing
- Palestine Briefing
- Turkey Briefing
- Iraq Briefing
Join the Middle East’s most notable experts for premium memos, trend reports, live video Q&A, and intimate in-person events, each detailing exclusive insights on business and geopolitical trends shaping the region.
We also offer team plans. Please send an email to firstname.lastname@example.org and we’ll onboard your team.
Memos – premium analytical writing: actionable insights on markets and geopolitics.
Live Video Q&A – Hear from our top journalists and regional experts.
Special Events – Intimate in-person events with business & political VIPs.
Trend Reports – Deep dive analysis on market updates.
All premium Industry Newsletters – Monitor the Middle East’s most important industries. Prioritize your target industries for weekly review:
Join the Middle East’s top business and policy professionals to access exclusive PRO insights today.
© 2021 Al-Monitor, LLC. All rights reserved.