· New report reveals Siemens redistributes 60% of its profits locally
· Helps kick-start 10 cutting-edge R&D projects, with patents pending
· Company transmits and distributes more than 60% of generated power
After more than four decades as a local company in Qatar, Siemens 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 Things. 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 realized 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 €300 million to around €5 billion. 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, digitalization, decentralized energy systems and the new venturing unit next47.
To support its technology development and innovation, Siemens is a resident member in the Qatar Science and Technology Park (QSTP), the country’s primary incubator for technology and innovation, to develop a local Research and Development center, to kick-start 10 cutting-edge R&D projects, with patent applications now pending. Qatar aspires to be a center of innovation, scientific research and technology. These goals are reflected in Qatar Vision 2030 and realized by Qatar Foundation, which operates in the fields of education, science and research. As of September 30, 2016, the company's continuing operations held some 59,800 patents worldwide from 56,200 a year earlier. In fiscal 2016, Siemens employees worldwide submitted an average of about 30 invention disclosures per workday.
In the future, Siemens is set to enable Qatar to achieve a new benchmark for sustainable infrastructure in the region, thanks to the upcoming Education City tram. The energy-efficient transportation system will consume 25 percent less energy per year compared to similar systems, and reduce CO2 emissions significantly. Corporate Knights, a Canadian-based media and research company, recently ranked Siemens No. 1 in its 2017 Global 100 Most Sustainable Corporations in the World index. The ranking recognized Siemens’ for its efficient use of energy and water, responsible approach to paying taxes, large innovation investments, low employee turnover and strong female board representation.
The company is also an employer of local talent, hiring a large percentage of its staff from universities in Qatar. It fully supports diversification and the employment of women, with a very strong commitment both by the company and its employees to the social welfare of Qatar.
© Press Release 2017
