Qatar Development Bank has called on small and medium-sized enterprises to participate in the business localization programs launched by the bank, with the aim of providing suppliers with the opportunity to learn about tender and procurement opportunities, join the supplier chain, and be present with the procurement team and interact with them directly.
The bank called on small and medium enterprises to register for the upcoming coordination meeting between Qatar Development Bank and the Public Works Authority, next Sunday, which will provide an opportunity for suppliers to learn about tender and procurement opportunities at Ashghal.
Support local businesses
Qatar Development Bank considers supporting local companies as an essential step towards achieving a sustainable economy, which helps reduce dependence on imports, increase local job opportunities, and enhance economic sustainability. Hence, the role of the Business Directory in improving the efficiency of local business operations by providing comprehensive information about Qatari companies, their products, and services.
Unified platform
The SME Directory represents a unified platform that facilitates local buyers’ access to locally available Qatari products.
This enables Qatari companies to generate new business and expand into international markets, and enhances their competitiveness in terms of quality and cost. In continuation of this step, Qatar Development Bank provides competitive financing for local companies to purchase national products, raw materials and services at a profit rate not exceeding 2.5% in order to stimulate the localization of supply chains. All companies can also refer to the Small and Medium Enterprises Guide to find out and view the products and services provided locally.
Localization of corporate business
Qatar Development Bank, in cooperation with the Ministry of Finance and the Ministry of Commerce and Industry, has achieved remarkable progress in its support for the localization of SMEs. In 2023, it launched several initiatives such as the Government Procurement Forum 2024 and bilateral meetings, and increased the number of beneficiaries of the bank’s financing and advisory services, capacity development and incubation programs. The value of deals achieved by Qatari companies through opportunities localization initiatives amounted to more than QAR 500 million. Supporting SMEs is part of the bank’s comprehensive strategy aimed at enhancing the competitiveness of the Qatari economy and achieving sustainable development.
This comes through multiple initiatives that include providing financing, developing capabilities, and expanding markets, making Qatar Development Bank a key partner in achieving Qatar National Vision 2030.