Ooredoo signed a memorandum of understanding (MoU) with the Qatar Financial Centre (QFC) as part of the Qatari telecom operator’s programme for enhancing business innovation and developing partnerships.
Under the deal, the two bodies will cooperate in several initiatives, including the business incubator strategy and digital cluster activities.
The agreement also includes forming joint working groups in a number of digital areas, such as internet of things (IoT) and data science, Ooredoo said in a statement.
Firms under the QFC will also benefit from information and communications technology (ICT) packages designed by Ooredoo.
For the full-year 2018, the Qatari firm’s profits fell 17% to QAR 1.57 billion ($430 million), from QAR 1.89 billion ($520 million) in the prior year.
Ooredoo’s stock, listed on the Qatar Stock Exchange (QSE), rose 1.38% to close at QAR 65.90 on Tuesday.