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19 January 2017
Qatar Development Bank (QDB) has been collaborating with Qatar Tourism Authority (QTA) to create and provide opportunities for local companies to engage in the tourism market, according to Abdulaziz bin Nasser Al-Khalifa, Chief Executive Officer of QDB.
Speaking on the sidelines of Shop Qatar festival in which a number of local entrepreneurs and Small and Medium-sized Enterprises (SMEs) supported by the QDB are participating, Al Khalifa said QDB has partnered with QTA in “ identifying the gaps that exist within the market and then convert them into opportunities for the local industries and SMEs.”
He said: “For example, we have established an incubation centre specifically for tourism at Qatar Business Incubation Center where we have more than 14 Qatari companies incubated to fill the gaps in the tourism sector.
“We have also conducted a study in 2015 which identified more than 32 opportunities for the SMEs engage within in the tourism sector. In 2017 we are planning to re-assess that study with QTA to identify fresh opportunities.”
He underscored the presence of pop-up shops at the month-long festival as a result of the two entities’ strong relationship which gives access for Qatari entrepreneurs and SMEs to sell directly to the market right away.
“This provides them more access to the market being able to sell directly and obtain feedback first hand from the shoppers. The shoppers, on the other hand, are given ccess to authentic Qatari products produced by Qatari SMEs,” he said.
On QDB’s Al Dhameen program, a partial guarantee scheme for local SMEs, he said, “We are continuing our advancement within the programme. We have exceeded QR1b terms of guarantee and have supported more than 500 entrepreneurs and SMEs through the project.”
He said QDB aims to expand the programme from its current status providing funding to more local entrepreneurs, in addition to conducting workshops through Bedaya Centre and QBIC or directly through QDB.
With the success achieved by its annual Al Fikra business plan competition, QDB will be holding it again next year, he added.
Qatar Development Bank (QDB) has been collaborating with Qatar Tourism Authority (QTA) to create and provide opportunities for local companies to engage in the tourism market, according to Abdulaziz bin Nasser Al-Khalifa, Chief Executive Officer of QDB.
Speaking on the sidelines of Shop Qatar festival in which a number of local entrepreneurs and Small and Medium-sized Enterprises (SMEs) supported by the QDB are participating, Al Khalifa said QDB has partnered with QTA in “ identifying the gaps that exist within the market and then convert them into opportunities for the local industries and SMEs.”
He said: “For example, we have established an incubation centre specifically for tourism at Qatar Business Incubation Center where we have more than 14 Qatari companies incubated to fill the gaps in the tourism sector.
“We have also conducted a study in 2015 which identified more than 32 opportunities for the SMEs engage within in the tourism sector. In 2017 we are planning to re-assess that study with QTA to identify fresh opportunities.”
He underscored the presence of pop-up shops at the month-long festival as a result of the two entities’ strong relationship which gives access for Qatari entrepreneurs and SMEs to sell directly to the market right away.
“This provides them more access to the market being able to sell directly and obtain feedback first hand from the shoppers. The shoppers, on the other hand, are given ccess to authentic Qatari products produced by Qatari SMEs,” he said.
On QDB’s Al Dhameen program, a partial guarantee scheme for local SMEs, he said, “We are continuing our advancement within the programme. We have exceeded QR1b terms of guarantee and have supported more than 500 entrepreneurs and SMEs through the project.”
He said QDB aims to expand the programme from its current status providing funding to more local entrepreneurs, in addition to conducting workshops through Bedaya Centre and QBIC or directly through QDB.
With the success achieved by its annual Al Fikra business plan competition, QDB will be holding it again next year, he added.
© The Peninsula 2017
