SaaS firm Kingdee opens regional HQ in Qatar

Kingdee, a Chinese software as a service (SaaS) company serving over 7.4 million customers worldwide, has opened a regional headquarters in Qatar, intending to widen its footprint in the Middle East and North Africa region.

Commenting on the launch ceremony in Qatar on Tuesday, Robert Xu, chairman and CEO of Kingdee, said: "Today marks a pivotal moment in the global expansion plans of Kingdee … Kingdee plans to leverage Qatar as a bridgehead for expanding our footprint into the markets of the Middle East and North Africa, driving the digital transformation of local enterprises and supporting Qatar to achieve its 'Qatar National Vision 2030'."

"We are confident in our ability to deliver professional enterprise digital solutions to Qatar and the regional market," Xu added.

The move is believed to have been facilitated through support from the Qatar Investment Authority (QIA), the sovereign wealth fund of Qatar; Invest Qatar, its investment promotion agency, as well as Qatar Free Zones Authority (QFZ).

Founded in 1993, Kingdee, whose solutions are used in 172 countries and regions worldwide, is listed on the main board in Hong Kong. Kingdee SaaS solutions support 42 languages and serve over 1,000 customers in achieving overseas digital operations.

In December 2023, Kingdee and the QIA announced an agreement wherein QIA would invest around $200 million in Kingdee.

Mohammed Saif Al-Sowaidi, CEO of QIA, said: "QIA has been an investor in Kingdee since 2023 and recognizes the company's expertise in enterprise digitalization and cloud services in China. We are confident that Kingdee will succeed in their expansion and will bring a valuable offering to the Middle East market."

"We are delighted to welcome Kingdee to Qatar. The establishment of their regional headquarters in Qatar marks a significant milestone in our ongoing efforts to attract leading global technology companies to our region," said Sheikh Ali Alwaleed Al-Thani, CEO of Invest Qatar.

"We look forward to working closely with Kingdee, QIA, and QFZ to drive forward our shared vision of economic growth and technological advancement, in line with Qatar National Vision 2030 and the Third National Development Strategy," he added.

Commenting on the strategic move, Sheikh Mohammed bin Hamad bin Faisal Al-Thani, CEO of QFZ, said: "Kingdee's decision to establish its regional headquarters in our free zones reaffirms Qatar's position as a leading hub for digital innovation. This partnership, developed through the joint efforts of QIA, Invest Qatar and QFZ, reflects our collective drive to achieve Qatar's Third National Development Strategy — the final wave of the Qatar National Vision 2030."

"By integrating Kingdee's expertise into our technology ecosystem, we will accelerate digital transformation and strengthen Qatar's role as a gateway for next-generation solutions to drive economic diversification and sustainable growth," he added.

He noted that QFZ would provide Kingdee with a strategic platform to strengthen its regional presence, cultivate high-impact collaborations and contribute to the evolution of enterprise digitalization.

By leveraging its industry expertise and the management models of China's leading enterprises, Xu stressed that Kingdee can provide end-to-end digital solutions encompassing financial management, supply chain optimization, and production operations to local businesses in markets participating in the Belt and Road Initiative.

"The establishment of Kingdee Qatar represents a strategic milestone in Kingdee's commitment to delivering localized services from Qatar Free Zones to global clients," he said.

"Guided by the principle of 'think globally, operate locally', the company will synergize regional business acumen with technological strengths, integrating AI-driven digital technologies and management expertise to provide comprehensive one-stop solutions," Xu said.

He further said this move will accelerate the development of the Middle East's software and internet industries through technological empowerment.