Wednesday, 26 June 2019 08:40 GMT
img

Qatar- QP to enhance localisation of energy sector's supply chain




(MENAFN - Gulf Times) *Tawteen to be launched on February 18

In a major initiative aimed at enhancing the process of localising the energy sector's supply chain and expand the small and medium enterprises base, Qatar Petroleum will launch the ‘Localisation Programme for Services and Industries in the Energy Sector' - Tawteen.

The programme will be launched on February 18, with the large participation of official bodies and entities, energy sector companies, and a wide spectrum of service providers and supporting industries.

Tawteen is designed to enhance the resilience of the energy sector's supply chain.

It also aims at creating around 100 new investment opportunities within the energy sector in order to retain economic value within Qatar, which in turn is expected to add QR8bn of import substitutes annually and is also expected create more than 5,000 new white collar jobs.

Moreover, it will provide valuable business opportunities for local and international entrepreneurs in Qatar, or those planning to set up business in Qatar, by providing technical support as part of Tawteen supplier development programmes, and create an environment to participate in the sector's supply chain and generate high-quality job opportunities.

One of Tawteen's most important aspects is introducing In-country Value (ICV) policy, which is designed to reward suppliers and contractors who execute their contracts and agreements by maximising local content.

An essential pillar of Qatar's localisation efforts, ICV will integrate into the way business is conducted, and will set forth the rules and requirements of doing business.

Commenting on the upcoming launch, HE Saad Sherida al-Kaabi, the Minister of State for Energy Affairs and President & CEO of Qatar Petroleum said: 'Tawteen is a realisation of the vision and directives of His Highness the Amir, which have outlined the road map towards economic diversification and self-reliance.

Al-Kaabi said 'the Localisation Programme is an important initiative that will enhance the resilience of the entire energy sector. It constitutes a further step in creating opportunities and promoting the establishment of various industries within Qatar as part of the state's economic diversification strategies.

He said the programme "aims primarily at helping develop the private sector, particularly small and medium-sized enterprises, which plays an important role in Qatar's economic development in terms of production, employment generation, and contribution to manufacturing, exports, and GDP. On an equal footing, Tawteen will provide greater support to the oil and gas industry, and will reinforce the State of Qatar's position as a leading, reliable, and trustworthy supplier of clean energy and high quality hydrocarbon products to the world.

Qatar Petroleum is working with various government authorities and stakeholders to facilitate the provision of the required infrastructure and for the creation of appropriate policies, regulations and incentives to attract local and international companies to establish operations in Qatar.

It is also co-ordinating with other stakeholders to help facilitate the development of new industries in the energy sector in order to ensure they acquire the capacity for greater competitiveness and financial sustainability.

MENAFN0801201900670000ID1097945257


Qatar- QP to enhance localisation of energy sector's supply chain

  Most popular stories  

Day | Week | Month