Qatar Development Bank (QDB) is keen on finding new ways to empower the sustainable government procurement and help prepare small and medium enterprises (SMEs) to meet their goals.
In this regard, the government-owned development institution is organising the first-ever government procurement and contracting conference ‘Moushtarayat’, which is expected to showcase more than 400 opportunities worth QR2bn.
‘Moushtarayat’, which will run for three days from March 8, is aimed at strengthening the co-operation between public and private sector companies in Qatar, in addition to bolstering collaborations between local SMEs and key stakeholders as well as promoting competitive environment.
“We are proud to announce the launch of Moushtarayat, which opens doors for SMEs and stakeholders, and aims to support local economic diversification,” QDB chief executive Abdulaziz bin Nasser al-Khalifa told reporters in Doha yesterday.
The event is one of the many ways QDB provide support to the SME sector through offering low-risk purchasing opportunities, linking SMEs with major stakeholders and promoting competitive business environment, he added.
The initiative, which is part of QDB efforts to support the local Qatari market and strengthen the role of SMEs, comes in line with the country’s 2030 National Vision.
“QDB’s strategy is entirely in line with Qatar National Vision 2030. It is focused on promoting and facilitating the growth of private sector in Qatar within key economic channels,” the institution said, adding this, in turn, would enable the development of long-term, sustainable social and economic benefits across the economy.
Besides offering financial support, QDB 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 already launched Al Dhameen, 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’ was created to develop and promote exports from Qatar, provide export credit guarantees in addition to financial products and solutions designed to mitigate the risks imposed on local exporters.