Abdulaziz bin Nasser Al Khalifa (left), CEO, QDB, and Essa bin Hilal Al Kuwari, President, Kahramaa, shaking hands after signing the agreement, yesterday.
Ahead of the third and upcoming edition of the widely appreciated “Buy Local Products” exhibition, Qatar Development Bank (QDB) and Kahramaa (Qatar General Electricity and Water Corporation) yesterday signed a memorandum of understanding (MoU) expressing their commitment to lend special support to local companies in Qatar.
The joint agreement between the two Qatari organisations complements the core directive of the Emir HH Sheikh Tamim bin Hamad Al Thani for local institutions to continue demonstrating the remarkable spirit of national solidarity and harmony they have showed in recent times.
The agreement was signed by Abdulaziz bin Nasser Al Khalifa, CEO, QDB and Essa bin Hilal Al Kuwari, President, Kahramaa. The MoU establishes a strong basis for cooperation between QDB and Kahramaa based on their mutual ambition to improve the capabilities and competencies of Qatari companies. Integral components of the deal includes guiding local businesses through the technical requirements involved in qualifying for tenders and operations for Kahramaa as well as supporting their participation at promotional exhibitions and forums.
Furthermore, QDB will also support these SMEs technically and financially, where possible.
“We are deeply delighted to partner with Kahramaa in the service of our nation’s local business community, our SME ecosystem and our economic sustainability. Now more than ever, the responsibility of upholding our national economic independence is a binding duty on every single individual and organisation in Qatar,” said Al Khalifa.
For its part, Kahramaa will prioritise contracting local suppliers, nominated by QDB, that successfully demonstrate their compatibility with Kahramaa’s qualifications, terms and regulations.
Furthermore, in case a local SME struggles to comply with the Kahramaa’s criteria, both partners will cooperate to educate the concerned local company on the best approaches to addressing the general gaps in their qualification as well as guide them on how to meet the necessary specifications and conditions specified in Kahramaa’s tenders and bids in future.“We have entered into an understanding with QDB to further our common objective of strengthening Qatar’s private sector competitiveness,” said Al Kuwari.
“By sifting through a list of recommended suppliers from QDB, all of who have demonstrated accordance to the technical qualifications and regulations set by Kahramaa, we hope to leverage qualified businesses in open tenders and bids, if there is no conflict over the quality of products and services being redeemed.”
