Business Chief ME+AFRICA Magazine November 2023 | Page 96

Digital transformations rely on robust and leading-edge digital ecosystems , developed best via public-private partnerships in the MENA region
TECHNOLOGY | DIGITAL ECOSYSTEMS

Public-private partnerships delivering the digital ecosystem

Digital transformations rely on robust and leading-edge digital ecosystems , developed best via public-private partnerships in the MENA region
WRITTEN BY : KATE BIRCH

There are few places in the world where digital transformation and digital ecosystems offer as much opportunity as the Middle East & North Africa ( MENA ). Home to around 6 % of the global population and 60 % of oil , there is a significant need to diversify economies away from fossil fuels and toward technology . And that creates opportunity . According to IDC , investments in digital transformation are expected to double over the next few years in the Middle East alone .

The United Arab Emirates ( UAE ) is emerging as a leading player – not just in this region , but also globally . With a 99 % internet penetration rate , matched only by Saudi Arabia and Norway , the nation is doubling down on digital as part of its We the UAE 2031 vision which aims to focus on social , economic , investment and development aspects to enhance the position of the emirates as a global partner and attractive economic hub .

LEVERAGING OUR PARTNERS ’ STRENG WE CAN PROPEL TH REGION ’ S DIGITAL TRANSFORMATION AND REINFORCE TR IN THE ECOSYSTEM

Rohit Chauhan Executive Vice President , Artificial Intelligence , Mastercard 96 November 2023