Sheikh Khalifa bin Jassim bin Mohammed Al Thani (centre), Chairman of Qatar Chamber, and Abdulaziz bin Nasser Al Khalifa (right), CEO, QDB tour "Buy Local Products" forum, yesterday.
The ongoing blockade imposed on Qatar by the neighbouring countries is offering a goog chance for the local companies here to grow and Qatar’s manufacturing sector is booming according to experts.
“With the current crisis, the private companies and small and medium enterprises (SMEs) here have a golden opportunity to capitalise on this and become a supplier of choice in the local market,” said Abdulaziz bin Nasser Al Khalifa, CEO, Qatar Development Bank (QDB), speaking at the sideline of the “Buy Local Products” forum, yesterday.
The forum that brought in some 70 Qatari manufactures and more than 250 local buyers was organised by QDB to encourage local manufactures to expand their local supply and to identify local procurement opportunities. The event was in line with the QDB's strategy to develop the private sector, diversify the economy and assist Qatari manufacturers in expanding their industries. The forum yesterday showcased products from five major sectors, iron and steel; plastic; wood; aluminium and copper; and general building materials. .
“We selected these five sectors for this forum since there is a huge demand for these products and there are companies in Qatar that are capable and able to provide the services which are needed immediately in the market. Many of the firms have by now increased their capacity to meet the needs. This is one of the many networking opportunities QDB organises aimed at increasing the link between the Qatari companies that are buying and the Qatari companies that are selling,” he said speaking to the media.
The forum is the first of many that will follow, to encourage local products. Over the coming weeks, similar ones involving various other sectors will be organised.
Through QDB’s Government Procurement and Contracting Conference and Exhibition (Moushtarayat) , local business opportunities worth more than QR3bn was secured in the first edition and QR2.5bn worth opportunities were penned in 2017 edition. QDB funding has now exceeded QR7.5bn, and it is growing, according to Al Khalifa.
With a number of local manufacturers showcased, organisers expect more agreement to be inked. Manufacturers in Qatar will provide quality products at competitive prices, according to experts.
“Many of the contractors here did not know that there are material available locally. They were importing from outside. The event has helped showcase some of the local products and they are of very good quality. They will also be available at cheaper or competitive rates,” said Sheikh Khalifa bin Jassim bin Mohammed Al Thani, Chairman, Qatar Chamber
“The manufacturing sector in the country is growing. The Ministry of Economy and Commerce has recently announced the new area allocated to for manufacturing companies. Some 200 to 250 plots are being made ready for manufacturers and we are looking at the needs of the market and the necessary will be served first,” he said.
