Invest Qatar, the Investment Promotion Agency of Qatar, and Level Infinite, Tencent’s global games brand, have signed today a Memorandum of Understanding (MoU) during the Qatar Economic Forum to accelerate the growth of the gaming industry in Qatar.
This strategic partnership aims to leverage Tencent’s experience and resource in global game industry to support Qatar National Vision 2030 and innovation. Under the MoU, both entities will collaborate on joint initiatives to grow the local gaming ecosystem and share global best practices.
Invest Qatar will facilitate Level Infinite’s entry into the Qatari market by connecting the company with key local stakeholders and promoting awareness of its activities. Level Infinite and Invest Qatar will also work together on talent development initiatives, which will support the sector’s long-term growth, particularly in gaming technology and product development.
Commenting on the partnership, Sheikh Ali Alwaleed Al-Thani, CEO, Invest Qatar, said: “We are pleased to partner with Level Infinite in a collaboration that aligns with our ongoing efforts to foster a vibrant digital economy in line with Qatar National Vision 2030. The gaming industry represents a dynamic frontier for innovation, youth engagement and economic diversification. With a tech-savvy young population, the world’s fastest mobile internet speeds and our strategic location within one of the fastest growing regions for gaming, Qatar is well-positioned to capitalise on this momentum. Through this partnership, we aim to attract world-class players and create new opportunities that position Qatar as a regional leader for digital entertainment.”
“We are happy to partner with Invest Qatar. This partnership underscores our commitment to Qatar and working with local stakeholders to build a thriving gaming ecosystem. Together, we will create a vibrant and sustainable gaming and esports scene that benefits the local community.” said Herman Zhao, Head of Emerging Markets Publishing, Tencent Games.
MENA gaming sector ready to level-up
The MENA gaming industry is witnessing significant growth, with a projected compound annual growth rate (CAGR) of 11% between 2022 and 2029. Ranked 1st for ARPU (average revenue per paying user) compared to other regions, and home to 17% of global players, the MENA region offers a wealth of opportunities for gaming companies. Qatar’s strategic location, advanced ICT infrastructure and supportive business environment provides an ideal hub for international gaming companies to access this rapidly growing market.
