(MENAFN- The Peninsula) By Mohammad Shoeb / The Peninsula
DOHA: Local small and mid-sized enterprises (SMEs) bagged business opportunities worth QR750m from the second edition of the Government Procurement & Contracting Conference and Exhibition (Moushtarayat 2017).
The latest value of the awarded contracts were announced yesterday by Qatar Development Bank's (QDB) CEO Abdulaziz bin Nasser Al Khalifa during his address at the Carnegie Mellon University in Qatar (CMU-Q).
Al Khalifa was addressing the students on 'The role of QDB in supporting entrepreneurship and national production as part of the ‘Dean's Lecture Series' organised by QMU-Q.
Moushtarayat 2017, which was held in April 6 to 8, at Doha Exhibition and Convention Center (DECC), was organised by QDB in collaboration with the Ministry of Finance (MoF). The expo offered about 2,000 job opportunities to local SMEs with an estimated cumulative value worth up to QR2.5bn, to usher in a new wave of opportunities for the government-private sector cooperation.
The first edition of the exhibition (Moushtarayat 2016) saw the participation of 25 governmental and quasi-governmental entities, including Ashghal, Kahramaa, and several ministries, offering 450 jobs with an estimated cumulative value worth up to QR3bn. Contracts valued at approximately QR111m were signed as an outcome of the event.
During his lecture Al Khalifa provided a brief account of all the major activities and important roles played QDB in supporting local private firms, especially the SMEs to achieve economic diversification through a vibrant private sector to achieve sustainable development.
'The economic diversification is in line with Qatar National Vision 2030. It is one of the four important pillars of the long term vision, and government is providing all the need needful support to private companies and budding entrepreneurs, which has brought tangible results on the ground, noted Al Khalifa.
He added: 'If you look at the numbers, we have around 25,000 private establishments, and 97 percent of them are SMEs.
He said that QDB, which was established as Industrial Development Bank in 1997 with an initial capital of QR200m was renamed as QDB in 2008, and today it has grown into big organization with a capital value of QR10bn. It is serving more diversified sectors of the economy with a debt portfolio of about QR8.5bn.
He also noted that QDB through its various initiatives, such as export promotion programme, loan guarantee programme, exhibitions, conferences, seminars, workshops, and Majlis, have been consistently supporting native SMEs so that the private sector may become active contributors to the diversification of the economy.
He also highlighted the critical role played by QDB to overcome the challenges that cropped up after the imposition of unjust blockade against Qatar on June 5 by four Arab countries.
'Within the third-day of the blockade we were able to find alternative destinations to source raw materials, that were coming from siege countries, to ensure that works on various developmental projects do not get affected, he added.
'In addition to providing market information, consultancy, financial support, accessibility, and training and incubation facilities, QDB is also providing market access both at local and international levels.
Under its export promotion programme (Tasdeer) over 150 companies participated in 20 exhibitions around the world.
'For providing international market access to local firms, we are participating very aggressively in various exhibitions and match making events. This will help improve competitiveness and expand their operations at a larger scale, he noted.
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