Forbes celebrates 'Qatar’s Success'

Forbes Middle East, in partnership of the Ministry of Economy and Commerce, yesterday celebrated ‘Qatar’s Success 2017’ by recognising the biggest and most successful companies in the country.
The exclusive event also witnessed the unveiling of Forbes Middle East’s special edition on Qatar featuring Qatar Development Bank’s CEO Abdulaziz bin Nasser Al Khalifa on the cover.
The internationally renowned magazine recognised Al Khalifa’s role for leading the Bank, which is at the forefront in its support of empowering Qatar’s small and mid-sized enterprises (SMEs) and local industries.
Al Khalifa, after unveiling the exclusive edition of the magazine, thanked Forbes for recognizing QDB’s efforts in helping Qatar’s SMEs to transform themselves into an economic powerhouse for growth.
Al Khalifa said: “We at QDB are focused on the economic diversification, which is one of the most important pillars of economic development in line with Qatar National Vision 2030. The heart of economic diversification is the SMEs and entrepreneurs, which plays a major role.”
Al Khalifa noted that the success celebrated yesterday was not the outcome of one man’s effort, or few individuals’ contribution. This became possible as a result of full team’s collective efforts, which include the role played by several SME-dedicated organizations, such as Bedaya (Center for Entrepreneurship and Career Development), Qatar Business Incubation Center, Qatar Science & Technology Park and others.
“Today we are celebrating the ecosystem of Qatar. We are not celebrating the individual’s success story.
 Qatar’s ecosystem in terms of supporting entrepreneurs through advisory services, information and training and providing access to funding. For which we are becoming a benchmark across the region,” he added.
The event lauded the efforts of these companies and government initiatives on a path of diversification. The companies in the list are achieving success and strengthening the status of the country’s economy, making it one of the strongest economies in the world.
Abdulbaset Al Ajji, Director of the Business Development and Investment Promotion, represented the Ministry of Economy and Commerce at the event.
Khuloud Al Omian, Editor in Chief, Forbes Middle East said, "Under the wise leadership of the Emir of Qatar, H H Sheikh Tamim bin Hamad Al Thani, is witnessing a comprehensive economic renaissance. We are proud to announce the very first list of the Top Companies in Qatar, which is part of ourcontinuous efforts to promote economic growth across the Arab world."
The 40 Qatari listed companies, with total assets of $411.4bn and $147bn market value, were ranked on four metrics: sales, net profits, assets and market value.
These companies were from 13 different sectors, with banks and financial services sector dominating the list with nine companies, followed by diversified and insurance with five companies each.
QNB topped the rankings with Ooredoo, Industries Qatar, Qatar Islamic Bank and Commercial bank of Qatar holding top five spots.