Qatar – Entrepreneurs must embrace the digital economy: Offic …

(MENAFN- The Peninsula) Doha: Entrepreneurs were invited to embrace the digital economy and realign their supply chains towards sustainable businesses during a panel discussion during Rowad Qatar 2021. Over the past few years, the Qatar has invested in the supply chain and local manufacturers to ensure the country’s self-sufficiency, an official said.

The Development Bank of Qatar (QDB) hosted the panel discussion titled “Market Penetration: Reorientation for Growth Opportunities in a Post-pandemic Economy” which highlighted the rapidly changing business environment for entrepreneurs and businesses. small and medium-sized enterprises (SMEs).

Saleh Al Khulaifi, Acting Undersecretary for Commercial Affairs at the Ministry of Trade and Industry (MoCI), said: “Many Qatari companies have branches in Doha, they collaborate and export their products and services and SMEs already supply their products to other large companies. overseas and working with big international companies like Google, Microsoft here in Doha. ”

“During the pandemic, we made an agreement with Google and Microsoft to provide their services to SMEs and local businesses. The pandemic has been a great accelerator of this digital adoption and rapid partnerships with data service providers to provide services and connect, which is the big advantage of having these multinationals in Qatar, ”he said. added.

He said: “Entrepreneurs need to embrace the digital economy and the supply chain is important for the sustainability of businesses. Over the past few years, we have invested in our supply chain and local manufacturers to ensure that in the event of a disruption, we will be able to supply ourselves and we have also supplied to GCC, Europe and China.

Speaking on how regulators and policymakers can facilitate the growth of SMEs in today’s ever-changing business environment, Al Khulaifi said: “We have tried to join with global players and large companies to propose solutions like sandboxes, incubators, accelerators to have a safe place where entrepreneurs and innovators can come in a controlled environment. We not only support our young innovators with tailor-made solutions, but also help companies in the fintech and e-commerce sector meet challenges.

Laurie Becquar, Head of Retail & Private Holdings at Google Cloud, said: “Automation plays an important role in scalability and gaining a competitive advantage in the market.” She pointed out that small organizations and SMEs are less likely to embrace automation, but on the other hand, once they embrace it and take that journey to automate their processes, they are successful. better than large companies because large companies have a large IT and technology infrastructure that makes their switch to automation slower and more complex.

She also noted that the new direction and change is towards cloud computing storage. “For entrepreneurs and new businesses, cloud computing offers the ability to start small and scale to any size. You may be able to scale your services and products globally very quickly if you are set up in the cloud as it gives you huge scalability and elasticity depending on your services. This technology also gives you unprecedented security because you rely on a very robust infrastructure, ”she said.

She added, “Through the intelligent use of data and analytics, SMEs can improve their abilities to seize and exploit market penetration opportunities. As Google, it’s the heart of what we do, making sense of data and delivering business values.

Francesco Betti, head of Shaping the Future of Advanced Manufacturing and Value Chains at the World Economic Forum, said: “We have seen with COVID-19 a massive shift to digitalization. To lead businesses in the manufacturing and operating space, we need to develop new digital capabilities, rethink our supply chain strategies, and seek new ways to build resilience. The most successful companies are those that invest in technology and people.

“In the years to come, the main capabilities of companies must be adaptability and if we look at the future prospects, the crisis will occur more often with deeper consequences for which we must be quick and go back to digital which is an incredible tool for building resilience, flexibility and agility, ”he added.

Marc Penzel, Founder and President of Startup Genome, said: “In this time of transformation, we need to develop the trends that are occurring as we see huge global potential for entrepreneurs and technology disrupts all industries. in which we engage. ”

“Our research with more than 50,000 SMEs and startup leaders shows that those with strong ties to their local and global startup ecosystems tend to grow their revenues twice as fast and globalize their businesses,” he said. -he adds.

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