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QDB and KAHRAMAA Sign MoU to Support Qatari Companies

In preparation for the third edition of the widely appreciated Buy Local Products exhibition, Qatar Development Bank (QDB) and Qatar General Electricity and Water Corp (KAHRAMAA) signed a Memorandum of Understanding (MoU) to seal their commitment in support of local companies in Qatar.

The joint agreement between the two organisations complements the core directive of His Highness the Emir Sheikh Tamim bin Hamad Al-Thani for local institutions to continue demonstrating the remarkable spirit of national solidarity and harmony. The agreement was signed by QDB CEO Abdulaziz bin Nasser Al-Khalifa and KAHRAMAA President Engineer Essa bin Hilal Al-Kuwari.

The MoU establishes a strong basis for cooperation between QDB and KAHRAMAA based on their mutual goals of improving the capabilities and competencies of Qatari companies. Integral components of their agreement include 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.

The upcoming edition of the latest Buy Local Products exhibition – which showcases exhibitors from the water, electricity and recycling sectors – is one such example of the promotional support that will be extended to local manufacturers. QDB will also support these SMEs technically and financially, where possible.

Speaking on the occasion of the signing, QDB CEO Abdulaziz bin Nasser Al-Khalifa said they are deeply delighted to partner with KAHRAMAA in the service of the nation’s local business community

It is with a great sense of pride and privilege that we rally behind the call of His Highness the Emir Sheikh Tamim bin Hamad Al-Thani to demonstrate unwavering unity and support for our industries. Now more than ever, the responsibility of upholding our national economic independence is a binding duty on every single individual and organization in Qatar. And as our nation’s enterprises have collectively shown in recent times—this is an obligation that we cherish.’

The launch of the third edition of the Buy Local Products exhibition comes at a time when promoting local manufacturers from a diverse range of industries is popular and amidst the recent changes in trade climate. Qatar-based organisations needed alternate supply solutions and this exhibition help satisfy this demand.’

KAHRAMAA will prioritise contracting local suppliers who are nominated by QDB, and who have successfully demonstrated their compatibility with KAHRAMAA’s qualifications, terms and regulations. In case a local SME struggles to comply with KAHRAMAA’s criteria, both partners will cooperate to educate the local company on the best approaches to address 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 the future.

KAHRAMAA is keen to play its national role as the country’s premier energy and water services providers. It is to this end that we have entered into an understanding with QDB to further our common objective of strengthening Qatar’s private sector competitiveness. By sifting through a list of recommended suppliers from QDB, we hope to give leverage to our nation’s qualified businesses in open tenders and bids, when and where there is no conflict over the quality of products and services being redeemed.’

The last two editions featured exhibitors showcasing industrial products under the following classifications: general building materials, plastics, aluminium and copper, steel and iron, wood, paper, glass products, detergents, information technology and equipment, and marine sector services.

As an integral part of its growth and empowerment strategy for the local entrepreneurs and SMEs, QDB regularly partners with other Qatari bodies to launch projects aimed at helping grow the nation’s indigenous industries locally, as well as promote Brand Qatar abroad.

Earlier this year, in partnership with the Ministry of Finance, QDB launched Moushtarayat 2017 – the Second Government Procurement and Contracting Conference and Exhibition which sought primarily to localise the supply chain by connecting large public-sector organisations with firms operating in the private sector. QDB also cooperated with Qatar Chamber to launch the Made at Home exhibition, which was designed to strengthen home-based business industries in Qatar.

For more information about the new QDB-KAHRAMAA partnership, check out this link.

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