- QDB and Qatar Chamber sign sponsorship agreement to promote Qatari products to compete in the Saudi Arabian market.
Doha, Qatar, Tuesday, 20 September 2016: In a ceremony held at Qatar Chamber’s headquarters, Qatar Development Bank (QDB) and Qatar Chamber signed a sponsorship agreement, by which QDB became the strategic sponsor of the fifth instalment of the ongoing “Made in Qatar” exhibitions to be held in Riyadh, Kingdom of Saudi Arabia (KSA), from 6-9 November 2016. The signing ceremony took place on Tuesday, 20 September 2016, and was attended by Abdulaziz bin Nasser al-Khalifa, Chief Executive Officer (CEO), QDB; H.E. Sheikh Khalifa bin Jassim bin Mohammed al-Thani, Chairman, Qatar Chamber; and Saleh Hamad al-Sharqi, Director General, Qatar Chamber.
QDB sponsored each of the four previous editions of the “Made in Qatar” exhibitions due to their commitment to developing Qatar’s industrial sector and encouraging local investments. This year, “Made in Qatar 2016’ will be hosted at an expansive, ten-thousand square meter show area, Riyadh International Convention & Exhibition Center, in Riyadh, KSA. This will be the first time the exhibition is held outside of Qatar.
“QDB is proud to sponsor this year’s exhibition. It is our unwavering commitment to support all initiatives and ideas that invigorate and enrich the Qatari industrial sector,” said Abdulaziz bin Nasser al-Khalifa. “The past four editions of ‘Made in Qatar’ achieved remarkable local success, and we expect the same level of accomplishments on the regional level. We are delighted to join hands with Qatar Chamber to serve the development of our national economy, as envisioned in the Qatar National Vision 2030.”
On this occasion, Saleh Hamad al-Sharqi shared Qatar Chamber’s appreciation for QDB’s consistent sponsorship of the “Made in Qatar” events, since its premier instalment in 2009. He noted: “We are proud to have QDB onboard as our strategic sponsor of ‘Made in Qatar 2016’, as we are certain that the exhibition will help usher in a new economic era for Qatar by helping the nation achieve its aspirations in the global market.”
“‘Made in Qatar 2016’ is an initiative that helps provide local businesses, from across a wide range of sectors, with a forum to display their best achievements and showcase the nation’s rapid economic developments. Furthermore, the active involvement of the small and medium-sized enterprise (SME) participants also serves as a testimony to the fertile environment that the Qatari market offers interested investors,” he continued.
In conclusion, Saleh Hamad al-Sharqi underlined Qatar Chamber’s confidence for the “Made in Qatar 2016” exhibition to succeed in its objective of forging stronger ties between local industries and foreign investors through offering unique business opportunities for both Qatari and Saudi Arabian private sectors.
“Made in Qatar” exhibitions are held under the patronage of H.H. Sheikh Tamim bin Hamad al-Thani, Emir of the State of Qatar, whose continued support and national vision serves as the foundation for the exhibition. Over the past few years, the government of the State of Qatar has paid special attention to its local economy. The industries in Qatar have resultantly grown across a wide range of sectors to gain a competitive edge in regional and global markets.
Inaugurated in 2009 with the aim of promoting Qatari industries regionally and internationally, “Made in Qatar” has witnessed success in attracting key players across all industrial fields. The last edition involved the participation of more than 220 Qatari businesses and manufacturers.
This year’s “Made in Qatar” exhibition enables Qatari companies to exchange knowledge and expertise with their Saudi Arabian peers, as it paves the way for consolidating further Qatar-KSA economic partnership. Moreover, the exhibition opens new external markets for Qatari manufacturers, especially for SMEs, and presents potential investment opportunities to Saudi Arabian entrepreneurs.
In addition to sponsoring all five instalments of the “Made in Qatar” exhibitions, QDB has contributed to this ongoing development of the industrial sector through its funding and consultancy programs that have generated robust results, most evident in diversifying the products of the industrial sector with non-oil and gas products. Examples of businesses that QDB has supported include those involved in manufacturing chemicals, plastics, woods, electronics, and food and beverage.
About Qatar Development Bank (QDB)
Qatar Development Bank (QDB) was established in 1997 as the Qatar Industrial Development Bank, a 100% government-owned developmental organization. Its primary aim was to develop investments within local industries, thereby accelerating growth and economic diversification in Qatar through support for private sector. Between 1997 and 2005, the bank expanded its portfolio, diversifying from its industrial base to include support and guidance for a range of non-industrial sectors identified as key to the development of Qatar. Shortly afterwards in 2006, the bank revisited its mission statement to reflect the successful completion of its new strategic objective and changed its name to Qatar Development Bank. In 2008, The State of Qatar, QDB ‘s sole shareholder, increased the bank’s capital from 200 million to 10 billion riyals in 2008. Since that time, and reflecting the expansion of its mission and financial assets, QDB has launched a considerable number of strategic initiatives and programs, all designed to directly contribute to the economic growth and development of Qatar.
QDB ‘s strategy is entirely in line with Qatar National Vision 2030. It is focused on promoting and facilitating the growth of the private sector in Qatar within key economic channels. In turn, this support will enable the development of long term, sustainable social and economic benefits across the economy.
Aside from offering financial support, Qatar Development Bank is tasked with promoting entrepreneurship in the private sector, facilitating the development of key economic sectors through the provision of capital and advisory services. QDB has also launched several initiatives, including Al Dhameen program, an indirect loan facility to guarantee commercial bank loans to private sector companies, in collaboration with other banks and financial institutions. QDB ‘s export arm ” TASDEER” program was created to develop and promote exports from Qatar, providing export credit guarantees in addition to financial products and solutions designed to mitigate the risks imposed on local exporters. The bank also provides consulting services in business development to help entrepreneurs to prepare for business. This will include feasibility studies, the conduct of market research and the selection of appropriate techniques; fundamentally helping to develop the capabilities of SME owners to enhance and refine their skills in the market and establish strong ties with financial and non-financial support entities.