Economists and businessmen to Al-Arab: The princely blessing is a golden opportunity to increase companies’ investments

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Al-Khalaf: The state is keen to grant incentives and benefits to small and medium-sized companies

Bu Hlaika: Increase in manufacturing, employment and services in markets

Aql: Supporting the financial position of companies that have paid their debts and assisting distressed ones

Economists and businessmen confirmed that the Emiri generous grant of granting loans to companies benefiting from the National Guarantees Program represents a golden opportunity for companies to increase investments and expand in markets.
Experts revealed that committed companies that have repaid their debts can obtain new loans from Qatar Development Bank without interest – zero – which supports all companies and encourages them to invest and expand their business.
They explained in statements to Al-Arab that the Amiri honor reflects the importance of the private sector in promoting economic development in the country and participating with the public sector, and the government’s great interest in the private sector and its role in development, and providing incentives and benefits that enable it to increase this role as a partner in development.

For his part, businessman Ahmed Al-Khalaf praised the Emiri blessing and stressed that it comes at the right time to support the role of the private sector in development and enhance this role, which confirms the state’s keenness to grant incentives and benefits to small and medium-sized companies and expand their business during the coming period. He added that Qatar Development Bank will By launching a set of initiatives, including granting short-term financing with zero profit rates to finance working capital for Qatari companies that previously benefited from the National Guarantee Program and have completed repayment of their loans, provided that they are in operation until this date. Qatar Development Bank will communicate with the companies concerned to enable them to benefit from this initiative, which is considered a continuation of the plan to support the private sector in line with the third national development strategy.
Al-Khalaf pointed out that a large sector of companies will benefit from the princely blessing, because the Corona pandemic has affected everyone, and there are companies that are still suffering from these effects on their business, even now, and therefore the state will provide a helping hand to them through the facilities and incentives that it announced.
Al-Khalaf stressed the important role of the private sector in development during the current period, and the state’s interest in overcoming all difficulties facing companies to increase their investments and expand their business.
He also noted that the business sectors confirmed that the Emir’s blessing supports the comprehensive development that Qatar is witnessing in all fields at the present time, by establishing new industries and encouraging investment in small and medium enterprises, which contributes to supporting the role of the private sector in development, given that the private sector participates. key in implementing these projects.
He explained that the state’s emphasis on the continuation of these incentives for the private sector reinforces the successful economic policy that the state is currently implementing. It also demonstrates the state’s interest in small and medium-sized enterprise projects, especially since these projects serve all industrial, agricultural, commercial and social sectors.

Facilitating private sector business
In turn, financial expert Youssef Bu Hulaiga stressed the importance of the princely blessing in enhancing and supporting the role of the private sector in development, and the keenness of the state and its various institutions to facilitate the work of the private sector and increase investments in the state, due to the ensuing increase in industrialization and an increase in employment and services and thus an increase in the balance of payments and the balance of trade.
Bu Haliqa explained that these initiatives include canceling existing loans on Qatari companies benefiting from the National Guarantees Program, to support the private sector during the Corona pandemic period, in addition to offering initiatives to grant short-term financing to finance working capital for Qatari companies that previously benefited from the National Guarantees Program.
Within the framework of these directives, the Development Bank announced an initiative to grant short-term financing to finance working capital at a zero rate to Qatari companies that previously benefited from the national guarantees program and completed the repayment of their loans.
He also pointed out that the Amiri blessing comes as a step to support private sector companies to confront the economic consequences resulting from the measures taken to combat the spread of the pandemic, and comes within the framework of the third national development strategy 2024-2030, which is based on supporting the private sector and enabling it to lead and drive sustainable economic growth. To enhance the development process witnessed by the country. Hoping that economic giving will continue to grow the public and private sectors.

Enhancing the role of small and medium enterprises
For his part, economic expert Ahmed Akl praised the princely blessing, stressing that it is a very important decision to support companies that are in financial distress and restore work with the kind of facilities they obtained.
At the same time, he pointed out that for companies that do not suffer from problems, the facilitations have already been included in them, which supports investment in Qatar and enhances the role of small and medium-sized companies, which means that committed companies that have paid their debts can obtain new loans from the Qatar Development Bank without interest – zero. Thus, the decision supports all companies and encourages them to invest and expand their business.
Akl explained that the princely blessing reflects the importance of the private sector in promoting economic development in the country and participating with the public sector, and the government’s great interest in the private sector and its role in development, and providing incentives and benefits that enable it to increase this role as a partner in development.
Aql continued that the beneficiaries of companies, whether defaulting by canceling loans and debts on them, or companies that have fully paid their obligations by granting them loans to increase their investments without interest and on appropriate terms for them, thus benefit from these loans and financing in the growth of their businesses, without charging them any interest on the loans, which contributes to To reduce the burden on him.
Akl pointed out that companies that have paid off their debts will benefit from new loans, even if they are in the form of bank deposits, which will enable them to obtain good returns without any cost for these loans. Aql stressed that the Emiri honor is considered a golden opportunity for companies to increase their investments and business in the market, expand and build new investments, and in all cases the Emiri honor is considered an attractive decision for investment that helps companies overcome a difficult period, which is the Corona pandemic and its consequences.
Regarding the situation of the Qatari economy at the present time, Akl said that the Qatari economy is strong, the economic situation is good, and the state is achieving financial surpluses, as is happening in the state’s general budget, the trade balance, and the balance of payments, but the global situation and the rise in input prices are affecting local companies, and this initiative comes at the right time. To support small and medium-sized companies and enhance their role in development. The new loans will also support the financial position of companies that have repaid their debts, so that they benefit from the incentives and benefits provided by the Emiri Nobility, and facilitate the process of market expansion and opening new markets, whether at home or abroad.
Akl noted that the impact of the generosity will become clear during the coming period after companies cancel debts and others benefit from zero loans, especially the service sectors.

Drop existing loans
The Emiri benevolence includes canceling existing loans on Qatari companies benefiting from the National Guarantees Program, to support the private sector during the Corona pandemic period, in addition to presenting initiatives to grant short-term financing to finance working capital for Qatari companies that previously benefited from the National Guarantees Program.
The Amiri blessing comes as a step to support private sector companies to confront the economic repercussions resulting from the measures taken to combat the spread of the pandemic, and comes within the framework of the third national development strategy 2024-2030, which is based on supporting the private sector, and enabling it to lead and drive sustainable economic growth, to enhance the development process. that the country is witnessing.

Qatar Development Initiatives
For its part, Qatar Development Bank announced the launch of an initiative to grant short-term financing with zero profit rates to finance working capital for Qatari companies that previously benefited from the National Guarantees Program and have completed repayment of their loans, provided that they are in operation until this date.

Accordingly, Qatar Development Bank will communicate with the companies concerned to enable them to benefit from this initiative, which is considered a continuation of the plan to support the private sector in line with the third national development strategy. Qatar Development Bank had previously launched its financing portfolio for the National Guarantees Program with the aim of supporting companies in transferring their credit facilities from partner banks and providing them with more flexible payment terms. Today, the bank continues its mission by providing private sector companies with products and services capable of facilitating their growth and business development so that they can effectively participate in the prosperity of the national economy.
The National Guarantees Program was launched in 2020 in response to the challenges of the Corona pandemic, and to support the private sector by providing the necessary financial supplies and allocating 100% guarantees through the Qatar Development Bank to local banks.

Integrated support system
The integrated support system provided by Qatar Development Bank includes various financing plans and advisory services, including marketing, legal advice, guidance and development, grants and credits, and capacity building platforms, which helped Qatar Development Bank to become a pivotal partner in the growth journey of small and medium-sized companies from idea to export. It meets their aspirations at every stage in order to compete at the national and international levels, while improving the economic development cycle and contributing to achieving the Qatar National Vision 2030.
Qatar Development Bank and its affiliated institutions are currently building on Qatar’s rich legacy of social and economic achievements through a courageous outlook for the future, and a focus on the digital transformation of small and medium-sized companies and the business environment in the country, to facilitate the entry of entrepreneurs and small and medium-sized companies into the new economy, embrace renewable opportunities, and transform… Qatar Development Bank is gradually becoming a future digital bank and a beacon for financial and development institutions across the region and the world.