A total of 590 senior executives representing 210 regional and global TMT (technology, media and telecom) firms are taking part in the 10th annual Convergence Summit that opened today (June 3) in Amman.

Organised by the Arab Advisors Group, a top provider of research, analysis and forecasts of Arab communications, media and technology markets, the two-day summit will deliberate the regional markets’ dynamics governing the industry including content, broadband and cloud strategies under the patronage of Princess Sumaya bint El Hassan, who inaugurated the event at the  Four Seasons Hotel.

“Content, broadband and cloud strategies can help to build a brighter future for the region and connect it on an equal footing to the wider world, but the industry must work in some degree with the government and civil society to ensure that the important developmental aspects of growth are not ignored by new technology and capacity,” said Princess Sumaya in her opening address.

“But this does not mean that profit in the industry should be sacrificed,” added the Princess. “For if we make it easier for people to benefit from better opportunities in health, education or nutrition, for example, then industry players can profit with the right support and business models.”

She said that ‘Broadband everywhere’ strategies were an exciting possibility that could make Wi-Fi the oxygen of growth and social development across the Arab world.

She added that this gave government and the industry a great responsibility to ensure that growth development and opportunities in the new age were spread equally and helped to create an equitable and open future for all.

Jawad J Abbassi, Arab Advisors founder and general manager said: "The Arab World is ripe now for the next phase of TMT development. The massive growth in connectivity and infrastructure (such as the growth of cellular lines from 25 million in 2002 to 393 million in 2012) while very impressive – represents the ‘low hanging fruits’. Its recipe is relatively easy: Liberalization and investment (FDI and local).”

“The focus now is on the soft infrastructure for 2020 and beyond, such as e-Government, e-commerce, e-health, online entertainment and the potential to better the lives of people: Economically & socially. Higher Internet adoption, along with the increased awareness of e-service, led the estimated annual spending on B2C e-commerce in the Arab World to be more than $11 billion for the year 2012,” he added.

The Convergence Summit discussion panels will focus on the state of the industry globally and regionally, the future of telecom services and media consumption in the region, the role of startups and industry incumbents, cloud computing trends, and strategies for broadcast, online & social media.

In addition, the summit speakers will address important topics governing the industry; these include: the role of technology vendors in the ecosystem, the dynamics of supply and demand, demand for VSAT services by telecom operators, the broadband markets in the region and their role in enabling the convergence ecosystem, as well as digital content, mobile and E commerce and payments.

Arab Advisors Group has already set the dates for the 11th Convergence Summit on June 2 and 3, 2014. – TradeArabia News Service