Qatar has made remarkable progress in developing into a modern state. Using the blessing of the nation’s natural resources following the guidance of H.H Sheikh Tamim Bin Hamad Al Thani, Emir of Qatar, our country is investing in the creation of the socio-economic foundations for an economy not reliant on hydrocarbons. Here, we would like to highlight the role of the Qatar Development Bank, which has achieved great success in private sector development and plays a central role in these efforts.
Having been established to support industrial manufacturers, QDB works today with businesses and investors across a wide range of key economic sectors. These phases required overcoming challenges by ongoing innovation to change the business environment in the country, and in this context, the bank has launched several initiatives to support national companies. In 2011, QDB launched export agency TASDEER to give Qatari businesses an edge in foreign markets. Since then, we have provided vital funding and specialist export advice to a host of companies seeking markets abroad. We have also worked to promote Qatari exports in trade fairs around the world. In 2014, together with the Social Development Center, QDB launched the Qatar Business Incubation Center (QBIC) – the largest mixed-use business incubator in the Middle East. The establishment of QBIC is a milestone of national importance, providing an array of services to Qatar’s SMEs. Provisions include office space, workshops, laboratories, production services, and technical and administrative support. QBIC also offers mentoring programs, training hundreds of entrepreneurs. Also in 2014, QDB took the prudent advice of the Government to merge with Enterprise Qatar. This has created a single window of support for the development of SMEs, consolidating efforts to better serve them by providing all financial resources and technical expertise in one place. Qatar Development Bank also provides housing loans for Qataris which acts as a stimulant to the real estate market and companies operating in this sector.
HE Sheikh Abdullah bin Saud Al ThaniChairman of Qatar Development Bank