Posted on February 12, 2019

The Communications Regulatory Authority (CRA) and the Qatar Financial Centre Authority (QFCA) yesterday signed a Memorandum of Understanding (MoU). This agreement is a major step in developing bilateral cooperation between the two authorities in this field, by providing local and international enterprises with services that fall under each authority’s mandate.

His Excellency Mohammed Ali Al-Mannai, President of CRA, and Yousuf Mohamed Al-Jaida, QFCA CEO, signed the MoU at the Ministry of Transport and Communications headquarters in the presence of His Excellency Jassim Saif Ahmed Al-Sulaiti, Minister of Transport and Communications. The two authorities will work jointly to support services and activities aimed at attracting local and international enterprises, working in the media and digital sectors. In addition, both signatories will support activities and projects that will help to increase the two sectors’ percentage of contribution to Qatar gross domestic product (GDP).

“The production, dissemination and use of data in the context of the globalization of information has become one of the most important manifestations of the technological progress that has produced knowledge-based societies. This MoU between the CRA and QFC Authority will further support the development of the digital media sector as a key pillar in supporting our country’s transformation into a knowledge-based economy in line with the Qatar National Vision 2030. The digital media sector will open up a wide range of opportunities, support competitiveness and innovation, and stimulate investment in the business environment, " HE Minister of Transport and Communications Jassim Saif Ahmed Al Sulaiti said at the signing ceremony”said H.E. Al-Sulaiti.

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“CRA welcomes the signing of the MoU with the QFCA. CRA is always  keen on contributing effectively towards achieving the goals of Qatar National Vision 2030. A core aim of this vision is to create a balance between an oil-based and a knowledge-based economy, and to support the diversification of the country’s economy. In this respect, CRA will ensure providing needed support, in accordance with its mandate, to achieve this goal,” said H.E. Al-Mannai. “The Communications Regulatory Authority and the Qatar Financial Centre have a long standing history of partnerships, and this MoU further reflects and solidifies our shared commitment towards investing in Qatar’s economic growth by enhancing our cooperation in the communications and information technology sector - or more specifically by working closely to develop Qatar’s ‘Media and Digital Cluster’.” said Al-Jaida.

Under the MoU, CRA will support QFCA in the evaluation of enterprises’ proposals related to joint initiatives or projects and on relevant products offered by Qatar Financial Centre. The two parties will also participate in relevant advisory committees and working groups.