Qatar Development Bank (QDB) and Maersk Oil Qatar (MOQ) signed a Memorandum of Understanding (MoU) recently, creating a partnership to support the growth of small and medium enterprises (SMEs) in Qatar.
The MoU was signed by QDB chief executive officer Abdulaziz al-Khalifa and MOQ’s managing director Lewis Affleck, at the Qatar Business Incubation Centre (QBIC), an innovation space and entrepreneurial support centre co-founded by the Qatar Development Bank.
Also in attendance were Troels Poulsen, Danish Minister of Business and Growth; Merete Juhl, Danish ambassador; Jakob Thomasen, Maersk Oil CEO; Sheikh Faisal bin Fahad al-Thani, MOQ Deputy Managing Director; and Dr Aysha al-Mudahka, QBIC CEO.
Al-Khalifa said, “We at Qatar Development Bank strive to empower and educate Small and Medium Enterprises to nurture local market growth because of their importance in supporting and diversifying Qatar’s economy. Our cooperation with Maersk Qatar is a testament in cooperating with leading businesses to help us achieve the nation’s goals.”
QDB seeks to improve local capabilities that accelerate the development of Qatar’s private sector in line with the needs of Qatar’s economic diversification towards a sustainable, competitive economy.
Speaking on the importance of the agreement, Affleck said, “By partnering with QDB we aim to build on our strong record of utilising local goods and services to further support local business growth and to help achieve the Qatar National Vision 2030.”
He said, “In 2014 and in 2015, around 60% of all goods and services used by Maersk Oil Qatar were sourced locally. Together with the support of QDB we will seek to further identify and bring opportunities to the Qatari SME market, which we hope will develop into meaningful contracts for local enterprises.”
Maersk Oil Qatar will also be participating in QDB’s Moushtarayat conference and exhibition, which will be held at the Qatar National Convention Centre from March 8 to 10.
The event provides a platform for networking between suppliers and buyers and aims to provide local SMEs with access to procurement opportunities within local government and private enterprises.