More than 150 local companies are participating in Qatar Development Bank (QDB)’s second instalment of ‘Buy Local Products’, a two-day exhibition aimed at promoting and supporting the country’s manufacturing industry.
The event concludes today.
Speaking on the sidelines of the event yesterday, QDB CEO Abdulaziz bin Nasser al-Khalifa told Gulf Times that ‘Buy Local Products’ provides Qatar’s small- and medium-sized enterprises (SMEs) with a platform to showcase their products as part of the State’s renewed drive to localise the supply chain and increase self-reliance.
The initiative is part of QDB’s efforts to “support the development of indigenous industries, empower the local private sector and diversify the economy”, it said in a statement.
“Not only are SMEs able to promote their products, this initiative also gives them the opportunity to meet with major contractors and buyers, thus contributing to the marketability of their products in the local market,” al-Khalifa said.
He said the exhibition also served as a venue for business transactions and a series of business-to-business meetings between local suppliers and buyers who were expected to sign bilateral agreements and partnerships.
Participants of the exhibition belong to the following industries: general building materials, plastics, aluminium and copper, steel and iron, wood, paper, glass products, detergents, and Information Technology and equipment, as well as marine sector services.
“Over the course of time, our team at QDB has developed core services and initiatives aimed at accelerating the development of Qatar’s private sector, particularly the industrial sector.
“The launch of the second ‘Buy Local Products’ exhibition is yet another step in the same direction; the event serves to augment our ongoing efforts to achieve self-sufficiency in the local market. By strengthening the ability of national suppliers to meet domestic demand and linking local buyers and suppliers with each other, we seek to promote the microeconomics of a self-sustaining economy,” al-Khalifa said.
Al-Khalifa noted that QDB has been able to launch two editions of ‘Buy Local Products’, which are part of a string of initiatives aimed at promoting a localised supply chain. To support a diverse range of local suppliers, QDB has developed numerous programmes that support the agriculture and farming industry in Qatar.
These include schemes such as the Jahiz 1 and Jahiz 2 initiatives, which also empower local suppliers who operate across a diverse range of industries in chemicals, electronics, plastics, and wood materials, as well as food and beverage.
“During the challenges of these prevailing times, His Highness the Emir Sheikh Tamim bin Hamad al-Thani reminded us of the paramount importance of maintaining self-respect and composure when making rational, far-sighted decisions. In his last address, he laid unparalleled emphasis on the economic independence for our country. And for us to maintain our economic sovereignty, our industries and industry-owners need to continue to play their respective critical roles.
“At present, one of our key priorities is ensuring that the Qatari wholesale suppliers, who may no longer order their merchandise from their traditional sources, are matched with new providers. This effort ensures that their business may continue to operate as normal and I am delighted to share with you that in this endeavour, we have met much success,” al-Khalifa said.
QDB CEO Abdulaziz bin Nasser al-Khalifa is joined by Ashghal president Dr Saad bin Ahmed al-Muhannadi during a tour of the second ‘Buy Local Products’ exhibition yesterday. PICTURE: Nasar T K
