Khalid Abdullah Al Mana (left), Executive Director of Business Finance at Qatar Development Bank; and Abdulrahman Al Obaidly, Chairman of HiSky Tourism and Exhibitions during the press conference on Qatar Self Sufficiency Exhibition Sponsors, yesterday.
DOHA: The unjust blockade imposed on Qatar by Arab quartet has worked as a major catalyst in the pace of achieving self-sufficiency and industrial diversification in Qatari economy. It has caused a significant jump in the project financing by Qatar Development Bank (QDB) with the combined value of SME-financing in 2017 reaching at QR2bn, said a senior official of the state-backed entity, yesterday.
Khalid Abdulla Al Mana, Executive Director for Business Finance at QDB, said: “The financing by QDB registered a remarkable growth last year. Project financing saw a sharp rise over the last few months, especially after the blockade. Out of the total funding of QR2bn in 2017, about QR1.4bn was invested after the blockade.”
“The blockade has created more business and investment opportunities. It has also worked as a strong catalyst to enhance the pace of economic diversification and self-sufficiency. And 2018 is going to see more growth than last year in terms of project financing by QDB as some of the major hurdles, such as the availability of land plots, have been addressed,” Al Mana told The Peninsula on the sidelines of a press conference held to launch of the Qatar Self-Sufficiency Exhibition, which will be held at Doha Exhibition and Convention Centre (DECC) from April 1-3.
Preparations for the event have been moving at a fast pace. Several enthusiastic exhibitors, partners and sponsors have validated their commitments. Keeping with the high demand, 10,000 square metres of space at DECC has been allocated to the exhibition area. More than 120 leading local, regional and international production line manufacturers from nearly 20 countries are expected to take part.
Some of the leading countries participating in the event include: Kuwait, Oman, Lebanon, UK, Turkey, Spain, USA, France, Italy, Germany, Switzerland, Iran, China, Japan, India, Malaysia and Sweden, with about eight countries having already reserved booth space.
The upcoming exhibition is a clear demonstration that the country is being steered towards growth and success, under the visionary governance of its leaders, even as the blockade imposed on Qatar is well into its eighth month. The nation has continued to move ahead, displaying resilience and a clear determination to grow and become self reliant.
The event is being organised by Hisky for Tourism and Exhibitions in collaboration with the Ministry of Economy and Commerce, while QDB will be the Official Partner, Qatar Airways will serve as the Official Carrier, and Qatari Businessmen Association as Development Partner.
Abdulrahman Saleh Al Obaidly, Chairman of Hisky, said: “Hisky for Tourism and Exhibitions is privileged to be able to partner with Qatar’s goal and commitment towards becoming self reliant, through Qatar Self-Sufficiency Exhibition 2018. This maiden venture is well in line with Qatar’s long-standing position of leading from the front.”
Keeping with the vision of economic diversification, a broad spectrum of sectors have identified for participation. They comprise the food industry, pharmaceutical industry, agriculture, industrial production and relevant components of the environmental sector such as recycling and sustainability plants, among others. Companies engaged in dairy production, recycling, and other industries have already confirmed their participation. Sheikh Jassim bin Jabor Al Thani, Assistant Undersecretary for Consumer Protection at the Ministry of Economy and Commerce, said: “The first edition of the exhibition represents a great initiative to strengthen the cooperation between local, regional and international production lines firms. The support of the Ministry to this exhibition comes in line with the Ministry’s vision to strengthen the partnership between Government and private sectors.”
Commenting on the benefits of the coveted expo, Khalid Al Mana (of QDB) added: “Qatar Self Sufficiency Exhibition, the first-of-its-kind initiative, provides the best environment to encourage investment in several sectors in the State of Qatar, namely the manufacturing sector. This exhibition opens new opportunities for major industries to showcase their latest solutions and services that answers the state’s diversification strategy.”
He also noted that QDB will continue to support local SMEs and strengthentheir capacity to contribute to the state’s economic sustainability. In addition, we remain committed to activating the manufacturing sector and elevating SMEs to become the main provider for Qatar.
Sheikh Faisal bin Qassim Al Thani, Chairman of Qatari Businessmen Association praised about the event, confirming that Qatar is now ready to welcome all projects that offer added value specially after the regulations and procedures announced by the Emir, H H Sheikh Tamim bin Hamad Al Thani and related to free zones and foreign investments where any foreign investor can invest 100 percent in Qatar.
