QDB Chief: Contracts Awarded to SMEs at Moushtarayat 2017 Amount to QR 700 Mln

Doha, January 24 (QNA) - Qatar Development Bank (QDB) CEO Abdulaziz bin Nasser Al-Khalifa said that the previous edition of Moushtarayat Conference and Exhibition in 2017, which provided contractual opportunities worth QR 2.5 billion, have seen QR 700 million allocated to small- and medium-sized enterprises (SMEs) Speaking during a lecture at Carnegie Mellon University in Qatar as part of the Dean's Lecture Series that discussed the role of QDB in support entrepreneurship and national production, Al-Khalifa said that the bank seeks to double its efforts in support of SMEs, including backing and training entrepreneurs to transform their ideas into ventures and then supporting the growth and expansion of these ventures to reach the local markets and then global ones. Al-Khalifa reiterated QDB's interest in enhancing the pace of SMEs contribution to the country's GDP by providing appropriate information, training and funding. The total amount of funds that QDB provided for SMEs since its establishment has reached about QR 8 billion. He pointed out that the bulk of these funds went to the industrial sector because of its important and pivotal role in achieving the self-sufficiency of the state, adding that the bank is committed to completing the process in this regard and doubling the performance so as to ensure the enhancement of services provided to the industrial sector and SMEs, which partially achieves food security and self-sufficiency towards reaching the desired economic independence. The QDB CEO said that initiatives launched by the bank such as Jahiz I and Jahiz II are now fully developed and ready for entrepreneurs. Jahiz I project, which includes 32 factories in the fields of plastics, aluminum and electronics and has been awarded to Qatari entrepreneurs, started production towards achieving part of local sufficiency, he said, adding that Jahiz II, which specializes in food and beverages, will play an important role during the coming period. Al-Khalifa stressed the need for Qatari SMEs to compete with their counterparts around the world, noting that export program Tasdeer encourages companies to participate in international exhibitions. More than 16 Qatari companies are participating in the International Green Week in Berlin, he said, adding that the participation of Qatari companies in the international markets, whether through exhibitions or selling on a global level, will increase the efficiency of companies and develop their spirit of competition. He noted that Tasdeer program has helped over the past few years more than 500 Qatari companies that achieved sales of QR 800 million in more than 80 countries. He added that the program is one of the strongest means of support that enable SME owners to give their products access to the global markets and promote domestic products abroad. Al-Khalifa highlighted the role of Qatar Business Incubation Center, which supported some 150 Qatari entrepreneurs, provided them with training programs and embraced more than 80 companies, 35 of which are in the Qatari market today, while the production volume of entrepreneurs is over QR 25 million. (QNA)