“The League of Arab States is aiming to grow collective GDP from $2.6 trillion to $4.15 trillion by 2030 thanks to its digital economy strategy.”
Biometric security initiatives will be an important component of a huge new deal signed between IDEMIA and the League of Arab States’ Council of Arab Economic Unity.
The deal encompasses projects with a total value of about $200 million. In a statement announcing the deal, IDEMIA indicated that it will support the “Arab Vision for the Digital Economy” through digital transformation in the areas of “digital identity services, e-government, e-commerce, banking services, and advanced biometric security systems.”
The Council of Arab Economic Unity was founded by Egypt, Iraq, Jordan, Kuwait, Libya, Mauritania, Palestine, Saudi Arabia, Sudan, Tunisia, Syria, United Arab Emirates, and Yemen in 1964. It is essentially a program aimed at fostering economic cooperation between member states.
The Executive Council’s “Arab Vision for the Digital Economy” was first announced toward the end of 2018. The League of Arab States is aiming to grow collective GDP from $2.6 trillion to $4.15 trillion by 2030 thanks to its digital economy strategy. At the time of its announcement, the Head of Research for the Arab Digital Economy Strategy, Dr. Hesham O. Dinana, said that “the total digital growth effect at full maturity could reach up to 333 billion USD a year.”
IDEMIA, known for its high-tech solutions in the field of biometrics and other technological areas, should be well-positioned to help in this effort.
News of the Council of Arab Economic Unity partnership comes just a couple of months after IDEMIA’s announcement of its new CEO, Pierre Barrial, who had been serving as Deputy CEO under Yann Delabrière since the start of the year.
August 31, 2020 – by Alex Perala