(MENAFN - The Peninsula)

Tech giant Siemens, after delivering for more than four decades as a local company in Qatar, has quantified its contribution to society through business in a report titled In Qatar, for Qatar Making real what matters'.

The findings illustrate the company's commitment to the country in line with the Qatar National Vision 2030, as it seeks to support its transition into a diversified and sustainable economy. Siemens outlined its impact by focusing on key pillars in Qatar's plan for the future, including developing local skills, improving quality of life, supporting the drive for innovation and preserving the environment.

As a local company with almost 500 employees, Siemens in Qatar redistributes 60 percent of its profit to local shareholders. From a technology aspect, for example, Siemens contributes to transmitting and distributing more than 60 percent of the power generated in Qatar. It also facilitates electricity and water generation through one of the largest projects in the region that will help boost the country's electricity output by more than 23 percent and water supply by over 25 percent come 2018.

Siemens seeks to further strengthen its position as a digital company and achieve double-digit growth in software, digital services and cloud platforms every year through 2020. Its new MindSphere cloud platform will also be a growth driver, enabling the company for the first time to offer customers in sectors ranging from industry to rail operation a cloud-based, open operating system for the Internet of ings. It will also make it possible to develop and operate apps and digital services.

As Qatar enjoys a period of prosperity and economic progress, the company is supporting its sustainable development with a portfolio of digital solutions. Siemens enables safety and comfort in buildings for working and living environments across Qatar through its building technologies. More than 55,000 sensors and 1 million data points work in unison to ensure fire safety, building automation and security in Qatar.

Throughout the country, 200 buildings are equipped with the company's innovative solutions and advanced technologies.

'As an international company with a strong local presence, we understand the importance of operating in-line with the country's goals and ambitions. " "We have realised that entrepreneurship, innovation and best practice in technology will facilitate Qatar's transition from a resource-based economy to one with knowledge as its foundation. Siemens looks forward to further supporting these aspirations for a sustainable future, as they turn into reality, said Adrian Wood, CEO of Siemens in Qatar. To strengthen its power of innovation, Siemens is planning to increase its investments in research and development (R & D) globally in fiscal 2017 by some 300m to around 5bn. Since fiscal 2014, the company's R & D investments have grown by about 25 percent. A major part of these additional funds are earmarked for automation, digitalisation, decentralised energy systems and the new venturing unit next47.

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Siemens backs Qatar''s economic ambitions with innovation - MENAFN.COM