By Satish Kanady
DOHA: Qatar Development Bank (QDB), a government-owned agency committed to developing investments within local industries, yesterday announced a ranking programme for SMEs. The Qatari SMEs which get an entry to the QDB’s rating list will be better positioned to compete in international and local markets.
Announcing the launch of the “SME Ranking Programme”, Abdulaziz bin Nasser Al Khalifa, CEO of QDB, said: “QDB has always been at the forefront when creating new methods to provide support to the SME sector, a main component of diversifying the local economy. This is part of our realisation of Qatar’s National Vision 2030. At QDB, we aim through this programme at helping Qatari young entrepreneurs make the most of this opportunity, and help them market their products in the local market.”
Explaining the benefits to the companies that get an entry to the QDB’s ranking list, Al Khalifa said it will help them get easy access to credit facilities. The ranking will also lend greater credibility to products of the companies in both domestic and international markets.
The programme will become a platform for SMEs to showcase their products and help entrepreneurs run their businesses. The programme will also recognise best-performing SMEs based on clear and transparent criteria, and motivating those who can improve their productivity and performance.
Qatar’s SME Ranking Programme will also serve as a platform to exchange ideas and discuss best practices in the SME sector, providing a learning opportunity for all.
The Qatar Chamber (QC) announced that it will fully support QDB’s programme.
“The main goal behind the launch of the SME Ranking Programme is to motivate SMEs and unleash their hidden potential to maximise operational and financial performances.
“We also think that we will be able to enhance the quality of products and manufactured items to enable it to compete on local, regional, and international levels,” said Saleh Al Sharki, General Director, QC.
At a time when the government is focusing more on non-hydrocarbon sector, the SMEs’ contributions to the national GDP is very important, he said.
“It is very crucial to focus and support the SME sector, for it plays a critical role in the country’s economic diversification programme.
“Our vision has always been to support the private sector’s interests and create a network of communications with private sector organisations, in addition to providing state-of-the-art services to achieve sustainable development we seek,” he added.
The Peninsula
