al khaliji: Proudly Supporting Local Companies Through TAWTEEN
Al Khalij Commercial Bank (al khaliji) PQSC, was one of the proud sponsors of the recent launch of TAWTEEN, the localisation programme for services and industries in the energy sector hosted by Qatar Petroleum. Their participation as sponsor is in support of their effort to empower the youth and enhance the job market in Qatar.
TAWTEEN is specifically for the benefit of small and medium enterprises and aimed at creating around 100 new investment opportunities in the energy sector, to retain economic value within Qatar, which is expected to add QAR 8 billion of import substitutes annually. The programme is also expected to create over 5,000 new white-collar jobs and provide valuable business opportunities to local and international entrepreneurs in Qatar.
One of TAWTEEN’s most important aspect is introducing In-country Value policy (ICV), which is designed to reward suppliers and contractors who execute their contracts and agreements by maximising local content. An essential pillar of Qatar’s localisation efforts, ICV will integrate into the way business is conducted, and will set forth the rules and requirements of doing business.
According to al khaliji Head of SME Nawaf Talfat, they are delighted to be part of this ‘futuristic’ event and help in the development of the private sector, particularly the SME sector. He said that it has always been their aim to support the forerunners of growth in any way possible and through TAWTEEN they got the opportunity to channel their growth prospects in the country’s energy sector.
The two-day event featured panel discussions and presentations with leaders of Qatar’s energy sector. The exhibition, meanwhile, provided suppliers and investors an opportunity for one-on-one discussions with representatives of local energy companies. The event also enabled potential suppliers and investors to clarify issues and register their interest for new business opportunities in the energy sector. Officials of al khaliji also got an opportunity to interact with attendees and offer insights on the bank’s products and services portfolio.
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