Abdulaziz bin Nasser Al Khalifa (standing right), CEO of QDB; and Chairman of the Board of Directors, Al Meera Company, Sheikh Thani bin Thamer bin Mohamed Al Thani, witnessing the MoU signing ceremony at QDB Headquarters in Doha recently.
In the interest of supporting local entrepreneurs, Qatar Development Bank (QDB) and Al Meera Consumer Goods Company signed a Memorandum of Understanding (MoU) to strengthen cooperation through the exchange of industrial information and personnel expertise as well as provision of support, through funding, to the small and medium-sized enterprises (SME) sector in Qatar.
The signing of the MoU was held at QDB’s headquarters on December 19 2016. Serving their respective organisations as designated signatories were Director of Advisory Services at QDB, Hamad Khamis Al Kubaisi, and Vice Chairman, Al Meera Consumer Goods Company, Dr Saif Said al-Sowaidi.
Also in attendance were Abdulaziz bin Nasser Al Khalifa, Chief Executive Officer (CEO), QDB, and Chairman of the Board of Directors, Al Meera Consumer Goods Company, Sheikh Thani bin Thamer bin Mohamed Al Thani, along with a number of high-ranking officials from both organisations.
In order to mutually benefit from the other organization’s respective industrial expertise, the MoU identified a range of areas for partnership, including strengthening cooperation in the areas of exchange of information, personnel and other resources. Most notably, through the MoU, QDB aims to support emerging local startups, supported by Al Meera, by extending quick-access support to them across a range of facilities, such as finance, support and advisory services.
Furthermore, another key highlight of the MoU will see that the two organisations work together closely to promote products of local SMEs – supported by QDB – across Al Meera outlets regionally. This cooperation is engineered to help local brands achieve exposure of global marketplaces, so that they may achieve higher scales of competitiveness.
Bader Al Kuwari, Business Localization Support Manager, QDB, said: "With the signing of the MoU, QDB has successfully engineered yet another initiative that seeks to facilitate the promotion of local entrepreneurs and the Qatari private sector across the globe. In Qatar National Vision 2030, we find our organisational mission cut out for us – QDB will continue to dedicate itself to the wholesome growth of the economy through the provision of developmental services, including advisory and financing services to local entrepreneurs and SMEs."
Dr Al Sowaidi (of Al Meera) said: “The signing of this significant MoU marks a momentous step forward in the course of diversifying our national economy and supporting local SMEs and startups, both of which go hand in hand and work towards the socioeconomic development of Qatar and its people.”
The agreement also included a scope for the increase in stocking of Qatari products across shelves and coverage of trade promotion programmes by Al Meera.
