He also confirmed that the DIC intends to obtain corporation status within a year. 'It is just a matter of announcing a firm date,' he said. 'Already we are maintaining our books, revenues and investments as a private sector company would. Our move towards corporatisation will enhance shareholder value, help us provide more focused delivery of services.'

With regard to the effect of the current global economic slowdown, he said: 'There will be some casualties over time. Our objective is to provide support and minimise their troubles in whatever way we can, especially those companies which are set up here. The Middle East still offers so many opportunities for the IT sector; the region is fairly rich, privatisation and deregulation is going on, particularly in power, telecommunications and financial services sectors.'