Font Size

- Aa +

Wed 9 Mar 2016 11:39 AM

Font Size

- Aa +

New funds for SMEs in Qatar

Procurement and contracting government agencies in Qatar have offered opportunities worth over QR3bn to local SMEs.

New funds for SMEs in Qatar
(Bloomberg)

Qatar’s government has allocated more than QR 3 billion ($825m) for small and medium size enterprises, a high level government official said at a conference in Doha yesterday.

Prime Minister and Interior Minister HE Sheikh Abdullah bin Nasser bin Khalifa Al Thani said that the SME sector in Qatar enjoyed the support of Emir HH Sheikh Tamim bin Hamad Al Thani, adding that various governmental institutions worked on amending the necessary legislation, enacting supporting laws and providing necessary information and services, or establishing economic zones and finding financing solutions.

HH Prime Minister was speaking at the first Government Procurement and Contracting Conference & Exhibition (Moushtarayat), a three-day conference and exhibition organised by the Ministry of Finance and Qatar Development Bank (QDB) at Qatar National Convention Centre.

HE Sheikh Abdullah bin Saud Al Thani, who is also the chairman of the Board of Directors of QDB, also said that around 25 governmental and quasi-governmental entities were participating in the exhibition that should provide more than 450 real opportunities for the SME sector with a total value exceeding QR3 billion.

QDB launched the single window to make all information available to SMEs under one roof, in addition to providing direct financing to SMEs in excess of  QR4.3 billion – its ‘Al Dhameen’ programme invested more than QR800 million and ‘Tasdeer’ program more than QR600m, Prime Minister said.