What are the key competitive advantages that solutions by stc has in Kuwait’s ICT sector?

One of the main strengths of solutions by stc is our ability to offer customers a one-stop shop for all their ICT needs. While many competitors in the industry lack fixed connectivity, others may not have the necessary IT solutions. By contrast, we provide a comprehensive suite of services that covers all aspects of ICT, making us a highly convenient and reliable partner for businesses of all sizes. Moreover, as the B2B arm of stc Kuwait, a leading brand in the telecommunications industry, and a subsidiary of stc Group with a solid regional footprint, we can seamlessly bring our clients’ services from Kuwait to the rest of the region, which is a key advantage we offer. Our strategic focus is to expand our presence in the enterprise and business solutions sector, catering to both the government and private sectors, including finance, banking, oil and gas, and real estate. Our ultimate goal is to facilitate the digitalization of the entire Kuwaiti economy and contribute to the success of Kuwait’s Vision 2035. Our strong revenue and net profit figures reflect our focus and solidity, while our extensive client base serves as a testament to the trust our partners place in us.

In which sectors do you expect to see maximum growth for solutions by stc?

We anticipate the greatest demand for solutions by stc in the energy sector, following a prolonged period of slow economic growth characterized by cost-cutting and reduced spending. Many companies are now investing in technology upgrades that they may have previously overlooked, and we have observed significant interest in our solutions within the oil sector. We are focused on introducing new technologies and educating the market within this sector. Cybersecurity solutions are particularly in demand as companies seek to safeguard their environment and services, ensuring business continuity. Additionally, reducing costs while optimizing operations for better productivity is a crucial consideration in the oil and gas sector. For example, our 5G technology offers higher speeds and less latency, making it ideal for applications such as surveillance drones and AI-powered sensors that help oil companies monitor and optimize their operations.

What is your viewpoint regarding the increasing demand for cybersecurity solutions?

We recognize the importance of cybersecurity solutions and strive for the implementation of rules and regulations that will drive the market. This is a vital step for Kuwait, and we are actively seeking collaboration with national security policy-makers to implement regulatory reforms and establish guidelines for security and communication across all sectors. While some companies are taking self-initiated measures to protect themselves, especially in the financial and oil and gas sectors, there are currently no regulations mandating minimum requirements for such protection. Our goal is to enhance cybersecurity measures and create a safer digital environment for businesses in Kuwait.

What are solutions by stc’s key objectives for the energy sector?

Our key objectives for the energy sector are to continue optimizing operations in the oil and gas industry. We have already achieved success in providing connectivity solutions for oil rigs located in remote desert areas. These rigs require increased productivity and access to real-time data, which can be challenging due to their remote locations. To address this challenge, we collaborated with KOC on a project to install 5G-connected cameras on the rigs. This cost-effective solution provides a high-bandwidth network with a fast response time, enabling access to records and data despite the remote location. Currently, we are monitoring all KOC rigs through our 5G network, and we plan to further improve connectivity and monitoring capabilities in the next phase. Our ultimate goal is to introduce IoT products and sensors to enhance rig productivity, providing effective monitoring and optimization tools that reduce complications and enhance productivity. Our clients have expressed satisfaction with our offerings, and we are optimistic about expanding our business relationship with KOC.

How do you assess Kuwait’s digital transformation journey compared to its regional peers?

While significant progress has been made in Kuwait’s digital transformation journey, there is still work to be done. To expedite the process, establishing laws and regulations would be beneficial. Although it may seem like a daunting task, it is important to remain optimistic as these services’ establishment can lead to a smoother process. Taking action and transforming the country is crucial, and it requires the government cabinet’s commitment. Such investment would undoubtedly result in increased economic productivity and potential growth across all sectors of the economy. Digitalization can significantly impact SMEs and has been accelerated by the acceptance of transformation brought by the COVID-19 pandemic. The upcoming year is not just about transformation from a company perspective but also a transformation for the country as a whole.

What would you identify as your main strategic priority in the coming years?

Our main strategic priority in the coming years is to achieve significant differentiation from our competitors, aiming for more than just growth. Maintaining our position as the top total solutions provider is crucial, and we are committed to it. Our goal is not only to lead in Kuwait but also to serve the entire region. Recently, we acquired a license to operate in Iraq, which presents an excellent opportunity for our company’s expansion. We aspire to serve as a catalyst for digital transformation and contribute to the development of the region’s ICT sector.