Latest news with #QatarDevelopmentBank
Qatar Tribune
3 days ago
- Business
- Qatar Tribune
QR270 billion invested to operate over 1,000 factories in Qatar: MoCI
DOHA: Saleh Majed Al Khulaifi, who serves as Assistant Undersecretary for Industry and Business Development at the Ministry of Commerce and Industry, stated that Qatar's industrial sector is growing rapidly, with 1,004 operating factories in the country by the end of last year and a cumulative investment of QR270 billion. He made this statement during a ceremony organized by the Ministry to honour entities that contributed to the success of several national initiatives, including National Product Week, the Opportunities initiative, the Ramadan discounted consumer goods list, and the initiative supporting red meat during Ramadan and Eid Al Adha. Attending the event was Assistant Undersecretary for Consumer Affairs Hassan Sultan Al Ghanem, alongside representatives from participating entities and companies. Al Khulaifi highlighted that these initiatives aim to empower the private sector and enhance its role as a key partner in achieving economic growth and diversification. He emphasized that the 1,000 Opportunities initiative, launched in collaboration with Qatar Development Bank in 2022, was part of the Ministry's digital tools on the Single Window platform. The initiative helps local investors access existing and future investment opportunities and encourages broader participation in the industrial sector. He also noted that the Manufacturing Strategy (2024-2030) targets increasing the value added by manufacturing industries to over QR70.5 billion, boosting non-hydrocarbon exports to around QR49 billion, and growing industrial investments to more than QR326 billion by 2030. It also aims to diversify manufacturing by 50% and accelerate the shift toward smart, knowledge-based industries. Meanwhile, Al Ghanem praised the success of the Ramadan discounted consumer goods list for 1446 AH, calling it a model of successful public-private cooperation to ease the economic burden on citizens and residents and help balance the local market. He said that around 18 retail outlets participated in the initiative, which resulted in total savings for consumers of QR5,317,311 out of QR52,712,765 in total sales, a 10% price reduction overall. Consumer spending on goods during Ramadan reached QR47,395,454, reflecting strong demand for discounted products. He noted that 2025 recorded the highest sales volume since the initiative began, signaling increased consumer awareness of the importance of such national programs. Commenting on the programe's success, he said that protecting the consumer was not the responsibility of a single party, but a shared duty that requires the combined efforts of all relevant stakeholders. He reaffirmed the Ministry's commitment to creating a fair and secure consumer environment and enhancing transparency in commercial dealings. Director of the National Product Competitiveness Support Department at the Ministry Dr Mohammed Ahmed Al Buhashim Al Sayed, expressed pride in the achievements of National Product Week, describing it as a prominent annual event that showcases the quality of Qatari products and boosts their visibility in the local market. He added that the latest edition saw a significant increase in footfall and recorded a 75% surge in sales at some retail outlets, reflecting growing consumer trust in Qatari products and heightened awareness of the importance of supporting national industries. He also announced the launch of a dedicated webpage for Qatari products on the Ministry's official website, allowing factories to apply for the Qatari Product label and to report unfair trade practices and industrial obstacles, supporting the principle of fair competition. Reviewing industrial growth indicators, Dr Al Sayed revealed that the number of national products had risen to 1,815, a testament to the effectiveness of the Ministry's industrial policies in line with Qatar National Vision 2030. The ceremony included a video presentation showcasing key national initiatives launched by the Ministry during the year and their developmental and economic objectives. The event concluded with an awards presentation honoring participating entities and companies for their significant contributions to economic development and community partnership.
Qatar Tribune
25-05-2025
- Business
- Qatar Tribune
MCQ, QDB partner to shore up media entrepreneurship, creative talent in Qatar
Tribune News Network Doha Media City Qatar (MCQ) and Qatar Development Bank (QDB) have signed a Cooperation Agreement to strengthen Qatar's creative and cultural industries ecosystem by advancing innovation, nurturing global talent, and expanding opportunities for media startups. Signed during Day 3 of the 2025 'Qatar Economic Forum, Powered by Bloomberg', the agreement marks a joint effort to support media entrepreneurship in Qatar. The agreement outlines a comprehensive framework to support Qatar's media and creative economy through six strategic areas. These include joint efforts to identify and support large-scale media productions aligned with the nation's cultural and export priorities, as well as the launch of a co-branded acceleration program in partnership with QDB's Creative and Cultural Industries Hub (Scale7). This program will provide hands-on support to startups through workshops, masterclasses, hackathons, and pitching events, aiming to spotlight high-potential ventures and connect them with top investors and industry leaders. The agreement names Media City Qatar as an official partner in QDB's Talent Community Program, supporting startups and helping attract creative talent. Together, they will share opportunities, explore co-investments, and help startups grow across the region and beyond. Media City Qatar and QDB will also promote the Startup Qatar Investment Program, invite each other to events, and work with key partners to strengthen these efforts. Eng. Jassim Mohamed Al Khori, CEO of Media City Qatar, said: 'Our commitment to startups is no coincidence: over 60% of our 200+ licensed companies are startups. That is why partnering with Qatar Development Bank is a natural next step in our mission to build a vibrant culture of media entrepreneurship in Qatar. This Cooperation Agreement is designed to accelerate the growth of both our current and future licensed companies. By combining our strategic platforms with QDB's startup expertise and investment channels, we are creating real pathways for media entrepreneurs to scale and innovate. This will enable them to produce content that contributes meaningfully to the country's creative GDP.' Abdulrahman Hesham Al Sowaidi, CEO of Qatar Development Bank, commented: 'This partnership reflects a shared vision for building the next generation of media entrepreneurs who contribute to shaping Qatar's creative economy. By bringing Media City Qatar on board as an official partner in our Talent Community Program, we are enriching the national startup ecosystem with creative talent ready to scale, directly contributing towards building the knowledge-based economy and Qatar's 2030 objectives. The agreement also sets the stage for establishing the first media sector accelerator under our Creative and Cultural Industries hub, Scale7, designed to empower innovation across the national media landscape. He added: 'Beyond talent development, this collaboration expands our capacity to back ambitious media ventures and accelerate their path to regional and global relevance. This partnership also enables us to promote the Startup Qatar Investment Program further and provide an investment platform for Media-sector startups.' Media City Qatar, as the official partner of the Forum, continues to forge high-impact partnerships that unlock new value for Qatar's media sector and contribute to the national knowledge-based economy goals of Qatar National Vision 2030.
ILoveQatar.net
24-05-2025
- Business
- ILoveQatar.net
Media City Qatar and QDB sign strategic agreement to boost media startups and creative economy
Media City Qatar and Qatar Development Bank (QDB) have signed a Cooperation Agreement to strengthen Qatar's creative and cultural industries ecosystem by advancing innovation, nurturing global talent, and expanding opportunities for media startups. Signed during Day 3 of the 2025 'Qatar Economic Forum, Powered by Bloomberg', the agreement marks a joint effort to support media entrepreneurship in Qatar. The agreement outlines a comprehensive framework to support Qatar's media and creative economy through six strategic areas. These include joint efforts to identify and support large-scale media productions aligned with the nation's cultural and export priorities, as well as the launch of a co-branded acceleration program in partnership with QDB's Creative and Cultural Industries Hub (SCALE7). This program will provide hands-on support to startups through workshops, masterclasses, hackathons, and pitching events, aiming to spotlight high-potential ventures and connect them with top investors and industry leaders. The agreement names Media City Qatar as an official partner in QDB's Talent Community Program, supporting startups and helping attract creative talent. Together, they will share opportunities, explore co-investments, and help startups grow across the region and beyond. Media City Qatar and QDB will also promote the Startup Qatar Investment Program, invite each other to events, and work with key partners to strengthen these efforts. CEO of Media City Qatar Eng. Jassim Mohamed Al Khori said: "Our commitment to startups is no coincidence: over 60% of our 200+ licensed companies are startups. That is why partnering with Qatar Development Bank is a natural next step in our mission to build a vibrant culture of media entrepreneurship in Qatar". He added: "This Cooperation Agreement is designed to accelerate the growth of both our current and future licensed companies. By combining our strategic platforms with QDB's startup expertise and investment channels, we are creating real pathways for media entrepreneurs to scale and innovate. This will enable them to produce content that contributes meaningfully to the country's creative GDP." CEO of Qatar Development Bank Abdulrahman Hesham Al Sowaidi commented: "This partnership reflects a shared vision for building the next generation of media entrepreneurs who contribute to shaping Qatar's creative economy". He stressed: "By bringing Media City Qatar on board as an official partner in our Talent Community Program, we are enriching the national startup ecosystem with creative talent ready to scale, directly contributing towards building the knowledge-based economy and Qatar's 2030 objectives. The agreement also sets the stage for establishing the first media sector accelerator under our Creative and Cultural Industries hub, Scale7, designed to empower innovation across the national media landscape". He added: "Beyond talent development, this collaboration expands our capacity to back ambitious media ventures and accelerate their path to regional and global relevance. This partnership also enables us to promote the Startup Qatar Investment Program further and provide an investment platform for Media-sector startups." Media City Qatar, as the official partner of the Forum, continues to forge high-impact partnerships that unlock new value for Qatar's media sector and contribute to the national knowledge-based economy goals of Qatar National Vision 2030. (QNA)
Qatar Tribune
24-05-2025
- Business
- Qatar Tribune
Media City Qatar, QDB partner to boost media entrepreneurship, creative talent
DOHA: MediaCityQatar and Qatar Development Bank (QDB) have signed a Cooperation Agreement to strengthen Qatar's creative and cultural industries ecosystem by advancing innovation, nurturing global talent, and expanding opportunities formediastartups. Signed during Day 3 of the 2025 'Qatar Economic Forum, Powered by Bloomberg', the agreement marks a joint effort to supportmediaentrepreneurship in Qatar. The agreement outlines a comprehensive framework to support Qatar'smediaand creative economy through six strategic areas. These include joint efforts to identify and support large-scalemediaproductions aligned with the nation's cultural and export priorities, as well as the launch of a co-branded acceleration program in partnership with QDB'sCreative and Cultural Industries Hub (SCALE7). This program will provide hands-on support to startups through workshops, masterclasses, hackathons, and pitching events, aiming to spotlight high-potential ventures and connect them with top investors and industry leaders. The agreement namesMediaCityQatar as an official partner in QDB's Talent Community Program, supporting startups and helping attract creative talent. Together, they will share opportunities, explore co-investments, and help startups grow across the region and and QDB will also promote the Startup Qatar Investment Program, invite each other to events, and work with key partners to strengthen these efforts. CEO ofMediaCityQatar Eng Jassim Mohamed Al Khorisaid: "Our commitment to startups is no coincidence: over 60% of our 200+ licensed companies are startups. That is why partnering with Qatar Development Bank is a natural next step in our mission to build a vibrant culture ofmediaentrepreneurship in Qatar". He added: "This Cooperation Agreement is designed to accelerate the growth of both our current and future licensed companies. By combining our strategic platforms with QDB's startup expertise and investment channels, we are creating real pathways formediaentrepreneurs to scale and innovate. This will enable them to produce content that contributes meaningfully to the country's creative GDP." CEO of Qatar Development Bank Abdulrahman Hesham Al Sowaidi commented: "This partnership reflects a shared vision for building the next generation ofmediaentrepreneurs who contribute to shaping Qatar's creative economy". He stressed: "By bringingMediaCityQatar on board as an official partner in our Talent Community Program, we are enriching the national startup ecosystem with creative talent ready to scale, directly contributing towards building the knowledge-based economy and Qatar's 2030 objectives. The agreement also sets the stage for establishing the firstmediasector accelerator under our Creative and Cultural Industries hub, Scale7, designed to empower innovation across the nationalmedialandscape". He added: "Beyond talent development, this collaboration expands our capacity to back ambitiousmediaventures and accelerate their path to regional and global relevance. This partnership also enables us to promote the Startup Qatar Investment Program further and provide an investment platform forMedia-sector startups." Media City Qatar, as the official partner of the Forum, continues to forge high-impact partnerships that unlock new value for Qatar's media sector and contribute to the national knowledge-based economy goals of Qatar National Vision 2030.
South China Morning Post
17-05-2025
- Business
- South China Morning Post
Hong Kong trade bodies urged to learn from Qatar to enhance investor services
Five public corporations in Hong Kong dedicated to supporting businesses should learn from Qatar and enhance their coordination to offer more comprehensive services to foreign investors, the head of one body has said. Hong Kong Productivity Council chairman Sunny Tan, who joined Chief Executive John Lee Ka-chiu 's delegation on a four-day visit to the Middle East this week, said on Saturday that he was inspired by the Qatar Development Bank. He said the Trade Development Council, InvestHK, the Office for Attracting Strategic Enterprises, the Productivity Council and the Hong Kong Export Credit Insurance Corporation should work more closely. 'The Qatar Development Bank is not a bank, but a government statutory body that offers many services to help and attract foreign companies coming for investment or local businesses,' Tan told a radio programme on Saturday. 'My impression is that this one institution is equivalent to our [five organisations] combined. 'This made me feel that while the support we provide in Hong Kong for businesses or the business sector is excellent, we need to better coordinate our public institutions.'
