Digital Government MENA

MENA Governments to Increase Spending on Digitalization in 2022

MENA Governments to Increase Spending on Digitalization in 2022

MENA governments are anticipated to spend a total of $13.3 billion in 2022 on information technology (IT) sector, with most budgets going to telecom services ($3.9 billion), IT services ($3.13 billion), and software ($2.56 billion).

 

They are are set to increase their spending towards digitalization efforts in 2022, enforcing policies on various sectors like telecommunications, healthcare, transportation, smart cities, and sustainability. All of these contribute in moving towards the next phase of the fourth industrial revolution and more growth opportunities of cloud in the region.

Gartner forecasts that the worldwide government IT spending will reach $565.7 billion in 2022, an increase of 5% from 2021. In line with this, global segments are expected to increase except for telecom services as well as internal services. Continuing the trend from 2021, the software is forecasted to record the strongest growth across all segments in 2022.

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Relatively, MENA CIOs are expected to spend the most on cloud application services (SaaS) this year. These include business intelligence applications; content services; customer experience and relationship management; and supply chain.

A testimony to MENA governments’ ongoing efforts, the UAE adopts its digital economy strategy, while Bahrain continues to develop its telecoms sector to drive digitization in the Kingdom. Also recently, Egypt’s NTRA and Saudi’s CITC have signed an MoU to cooperate and exchange expertise in several areas, including smart cities, radio spectrum management, and capacity building in digital transformation.

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Dubai’s Museum of the Future ties up with Binance to launch ‘Most Beautiful NFTs’

Dubai's iconic Museum of the Future and Binance NFT, the NFT marketplace of Binance, the world’s leading blockchain and cryptocurrency infrastructure provider aims to develop and launch a range of digital products on the blockchain, starting with their first-ever NFT collection – The Most Beautiful NFTs in the Metaverse.

 

With this announcement to collaborate with Binance NFT, the Museum of the Future cements its position to develop assets within fields of NFTs, cryptocurrencies and the blockchain, the future of mixed reality, mobility, the metaverse and other future technologies.

Omar bin Sultan Al Olama, minister of state for Artificial Intelligence, Digital Economy, and Teleworking Applications, said, "Museum of the Future’s partnership with the world’s largest cryptocurrency and blockchain ecosystem player makes a significant contribution towards Dubai’s plans to establish a new international digital asset ecosystem, which will, in turn, generate long-term economic growth within the digital economy."

Meanwhile, Lath Carlson, executive director of Museum of the Future, said, "This exciting project is the first of many future ventures that will see us working with the world’s brightest minds and construct high-impact developments that will shape the future."

The Museum of the Future is developing a range of virtual assets and will pioneer development in the crypto-technology space. The first NFT drop is set to be announced in the coming weeks, with the collection to be intrinsically linked to ‘The Most Beautiful Building on Earth’, aiming to set new standards for NFTs worldwide.

Helen Hai, head of Binance NFT, said, "We are honoured to partner with the Museum of the Future in Dubai, a truly unique and innovative concept. We look forward to working with the Museum to develop industry-leading digital products that enhance the growth of the industry and promote adoption of blockchain within the region."

 

 

UAE: A hub for digital economy

Adopting the UAE digital economy strategy, His Highness Sheikh Mohammed bin Rashid Al Maktoum said that the goal over the next 10 years is to increase the contribution of this sector to the GDP by 20%.

Aiming to enhance the position of the UAE as a hub for the digital economy in the region and globally, the strategy will define the digital economy in the country, with a unified mechanism to measure growth and indicators periodically across various sectors.

The UAE council for digital economy has also been established and will be chaired by Omar bin Sultan Al Olama, minister of state for artificial intelligence, digital economy, and teleworking applications. This specific body of authority will support the directions of the country to double the contribution of the digital economy to the UAE’s GDP in the year 2031.

It is worthy to note that the UAE is among the top 25 percent of countries in the most important global digital indicators, where the contribution of the digital economy to the economic sectors of the UAE’s GDP is 9.7%, and to the non-oil GDP is 11.7%.

GCC countries are growing their digital economy almost twice as fast as advanced economies, with countries like UAE, Saudi Arabia, and Qatar increasing their focus and strategic initiatives to enhance digitalization. In fact, the information and communication technology (ICT) sector is a key engine in the digital economy, with 5G development in the GCC region leading in the world.

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