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Fri, 12/01/2023 - 22:37
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QatarEnergy Reviews Tawteen, ICV Programs within Activities of Made in Qatar

Doha, December 01 (QNA) - Held under the patronage of HH the Amir Sheikh Tamim bin Hamad Al-Thani, the activities of the Made in Qatar 2023 continued for the third day. The ninth edition of the expo is being held at the Doha Exhibition and Convention Centre and continues until Saturday. Organized by the Qatar Chamber in cooperation with the Ministry of Commerce and Industry, the exhibition boasts the participation of more than 450 factories and industrial companies. On the sidelines of the MIQ second day activated, two seminars were held. The first seminar was delivered by QatarEnergy which reviewed Tawteen program and the In-Country Value (ICV). Service Sector Development and Maintenance Officer at the QatarEnergy Tawteen Department Ahmed Said Al Kuwari provided an overview of the Tawteen program which is a national initiative aims to create local investment opportunities in Qatar's energy sector, including areas such as maintenance, drilling, and digital technology. Al Kuwari highlighted that the program offers facilities and incentives for advanced companies, featuring shorter periods to award contracts, flexible procedures, and five-year contracts. It also facilitates advisory services and supplier development. During the symposium, he reviewed several tenders established by the settlement initiative launched in 2019. Manager of the In-Country Value (ICV) Hamad Mohsin Ahmed Al Ejji delivered a presentation on the program and its services, including the certification of local value through an electronic application. He noted that the program issued 6,800 tenders in the energy sector, resulting in the creation of approximately 4,400 jobs. The number of valid certificates in the program reached 2,000. He explained that all companies wishing to bid in the energy sector are required to obtain a local value certificate. The second seminar, hosted by the Qatar Stock Exchange (QSE), featured presentations by Product Development Manager Hamad Khalil, and Education Manager at the QSE Samer Abu Zaghla. They presented a working paper titled Definition of Covered Short Selling Activities, Stock Lending and Borrowing and Market Making.' During the seminar, Hamad Khalil emphasized that the QSE serves not only as a trading platform but also as a source of enrichment for financial knowledge, benefiting capital owners in their business development, which, in turn, contributes to the national economy in general. Khalil highlighted that the QSE facilitates the trading of investment instruments, sales, and purchases, contributing to the enrichment of financial culture. He highlighted that there are two platforms at QSE: the Financial Market Platform under which there are 50 listed and the SME platform, which is suitable for many exhibitors at the exhibition. He pointed out that the exhibition provides an opportunity to learn about the SMEs platform and how to list in it. For his part, Samer Abu Zaghla reviewed the covered short-selling mechanisms for shares, a strategy where an investor expects the price of a share to drop. He noted that in this case, the investor sells his shares in the market when the price falls and then buys them back to return to the lender. Abu Zaghla noted that there are specific rules and procedures regulating this process to safeguard the market from potential risks. Through the exhibition, Qatar Chamber aims to provide visitors with insights into the latest products and services within the industrial sector, fostering communication with industry experts and investors. Participants will have the chance to engage with industry experts and investors, get acquainted with successful companies operating in the state, and understand their capacity for developing their businesses, enhance competitiveness. (QNA)