SOIN, an IT firm from Central America, will set up operations in Qatar with support from Invest Qatar.
The company plans to spend about QAR 197 million (US$54 million) over five years. It also expects to hire around 120 staff in Qatar by the end of that period.
Both sides signed an MoU for the Invest Qatar SOIN partnership at MWC Doha.
Under the deal, Invest Qatar will help SOIN access business opportunities and form local partnerships.
In addition, the agency will back the firm’s plans to use Qatar as a base for growth in the region.
SOIN plans to offer AI and enterprise technology services in the country.
Its target clients include banks and financial firms, as well as telecom, healthcare, retail and public sector groups.
According to the company, these services help clients update complex systems, automate tasks and work more efficiently.
To build its local team, SOIN is working with Sheikh Mohammed bin Falah bin Jassim Al Thani, its joint venture partner. Together, they aim to serve clients in Qatar and nearby markets.
“We look forward to supporting SOIN’s regional growth ambitions and fostering its long-term presence in Qatar, in line with our economic diversification objectives,”
said Sheikh Ali bin Alwaleed Al-Thani, CEO at Invest Qatar.
“Organisations need to modernise and adopt AI while keeping critical systems running reliably and governing how AI operates across the business,”
said Mariano Villalta, Regional Director at SOIN.
The announcement also ties the move to Qatar National Vision 2030. It states that SOIN’s entry will help diversify the economy, create skilled jobs and build local technology skills.
Featured image: Edited by Fintech News UAE, based on image by Invest Qatar via its LinkedIn.
