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Thursday, December 12, 2024 | Daily Newspaper published by GPPC Doha, Qatar.
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 Peter Alagos
Peter Alagos
Peter Alagos reports on Business and general news for Gulf Times. He is a Kapampangan journalist with a writing career of almost 30 years. His photographs have been published in several books, including a book on the 1991 Mt. Pinatubo eruption launched by former Philippine president Fidel V. Ramos. Peter has also taught journalism in two universities.
Ahmed al-Obaidli is one of the co-founders of the Doha-based Gems & Metals Calibration Lab.
Qatar
Qatar’s first gems, metals calibration lab to play key role in economic development

Qatar, particularly its burgeoning jewellery sector, will stand to gain from the establishment of the country’s first laboratory specialising in examining and grading diamonds and precious stones. According to co-founder Ahmed al-Obaidli, the Gems & Metals Calibration Lab will “effectively contribute” to accelerating development in Qatar even as the country is preparing to host the 2022 FIFA World Cup. Al-Obaidli explained that the establishment of the lab, which is located on the seventh floor, Tower 2, The Gate Mall, “is considered an integral part of Qatar’s economy as it will keep pace with the change in the concept of individual consumption and the view of purchasing priorities”. The lab operates in collaboration with one of the largest institutes in this field – the International Gemological Institute (IGI), and it is fully equipped with the necessary testing devices used worldwide. The lab’s academic and technical team is also part of the IGI team, al-Obaidli noted. Speaking to Gulf Times, al-Obaidli said the 18th edition of the Doha Jewellery & Watches Exhibition (DJWE), which will be held at the Doha Exhibition and Convention Centre (DECC) from May 9 to 14, will be the highlight of the lab’s official launch under the patronage of Qatar Chamber chairman Sheikh Khalifa bin Jassim al-Thani. “During the DJWE, we will be offering brief consultations and seminars at our stall during the event,” he said. As part of the lab’s vision and mission, al-Obaidli stressed that Qatar will be the first Arab and regional country to raise public awareness of the importance of grading diamonds, reduce fraud in this field, and seek to ensure the purchase of a product with correct standards. He also emphasised that one of the most important goals of the lab is to unify the market and promote Qatar’s expertise in gemology by raising awareness locally and globally. “Our lab will be offering training courses on the classification of diamonds and minerals to provide accredited certificates, which provide technical and legal guarantee to the consumer when purchasing jewellery,” he pointed out. He also said, “We aim to enhance the mutual trust between jewellers and consumers and to build a large base for investors in this field in Qatar, in the presence of such laws and technical requirements for the success of this sector. “We will help reduce commercial fraud by opening our laboratory to any visitor and consumer to check any merchandise purchased to avoid any fraud. Our expertise in this field will be expanded to all neighbouring countries after its success in Qatar. In addition, the lab will protect the trader in the first place from suppliers abroad in order to ensure that their goods meet the agreed specifications.” According to al-Obaidli, signing a contract with IGI and allowing it into the Qatari market will be a “great success for Qatar” as these types of institutes only have branches “in the most important centres of the world” where they were launched. “With IGI entering the Qatari market and agreeing to contract with our office, this will definitely allow our lab to serve its role properly,” al-Obaidli emphasised, adding that IGI was established in Antwerp, Belgium, in 1975 and is the largest independent gem certification and appraisal institute worldwide today. “IGI’s distinguished position in the world of gemstones is not a coincidence but rather the result of continuous research, support and synergy with professionals and consumers alike. IGl certifications are a worldwide trusted source when buying or selling diamonds, gemstones and jewellery,” he added.

Gord founding chairman Dr Yousef al-Horr in this file photo of the awarding of the GSAS certificate for Al Janoub Stadium. The facility is now the first stadium to have all three certifications: GSAS Design & Build, GSAS Construction Management and GSAS Operations.
Qatar
Carbon-neutral World Cup a game-changer in sports events, says Gord official

Qatar’s “voluntary environmental commitment” will set a new precedent both locally and internationally in terms of staging future sporting events, an official of the Gulf Organisation for Research & Development (Gord) has said. “In the history of FIFA, Qatar 2022 will be the first carbon-neutral World Cup. With a sustainability advisory from Gord, the Supreme Committee for Delivery & Legacy (SC) has taken several measures to cut down the tournament’s GHG emissions while also utilising carbon offsetting services for the unavoidable emissions. “Within Qatar, we are seeing heightened interest from organizers approaching the Global Carbon Council (GCC) to explore the mechanisms behind events’ carbon neutrality,” Gord founding chairman Dr Yousef al-Horr told Gulf Times in an interview. Dr al-Horr stressed that the 2022 FIFA World Cup will be a “first of its kind", thus setting a global benchmark for the staging of future World Cups and other tournaments worldwide. He also emphasised that Qatar exceeded FIFA’s expectations, not just through carbon neutrality commitment, but also by taking voluntary moves as a part of its pledge to environmental conservation. Citing Al Janoub Stadium, Dr al-Horr said the facility recently received all three green building certifications under the Global Sustainability Assessment System (GSAS). The facility is now the first stadium to have all three certifications: GSAS Design & Build, GSAS Construction Management and GSAS Operations. “Adopting GSAS Operations was an entirely voluntary move which Qatar plans to continue for all eight stadiums to ensure that the facilities operate sustainably. Globally, such initiatives will inspire future host countries and create a lasting legacy coming from the State of Qatar,” he pointed out. He said Gord is in the process of finalising GSAS certifications for all eight stadiums that will welcome FIFA fans in 2022. Audits for GSAS Operations are presently ongoing to evaluate the sustainability impact of stadiums in the post-occupancy stage, he noted. To ensure environmentally-responsible development and operations of temporary sites and fan zones, Gord also developed a unique GSAS EcoLeaf for Camps & Festival Sites as a tourism sustainability certification. It is designed to improve the purpose-built, temporary facilities’ performance and reduce the negative impacts generated by their activity, Dr al-Horr explained. In the context of carbon neutrality, Dr al-Horr said Gord, with the support of SC, has established the Global Carbon Council (GCC) – the Mena’s first voluntary carbon market catalysing climate change mitigation finance globally and especially for the region, which has largely remained under-represented when it comes to the use of carbon market instruments to fight against climate change. “GCC credits will be used for offsetting host country emissions linked with Football World Cup Qatar 2022 but the legacy will continue in the years to come. Today, this GCC programme is the only CORSIA-accredited international programme in the Global South. “It is also accredited by ICROA and has more than 260 GHG reduction projects registered from across the world including local and regional projects, with the expectation that this number will reach up to 500 projects by the end of 2022. Collectively, more than 20mn carbon credits are expected to be issued by GCC by year-end,” Dr al-Horr said. In terms of research activities, he said Gord and SC are collaborating on Al Thumama 'Showcase Stadium', originally built as part of Qatar’s bid to prove that football can be played in the Middle East despite the region’s tough terrain. Since Qatar’s winning bid for the tournament, the facility has transformed beyond a showcase space. Supported by the SC, the facility currently offers a platform for Gord’s pilot-scale research and development in anticipation of supporting one of the most sustainable tournaments in FIFA’s history, Dr al-Horr said. “Essentially, the showcase venue is reflective of SC’s stance on environmental sustainability, to which the hosting nation has shown unprecedented commitment. As a breeding ground for future technologies, Al Thumama 'Showcase Stadium' nurtures scientific research to develop innovations in the field of environmental sustainability,” he added. According to Dr al-Horr, Gord and SC are also collaborating to implement GSAS in all stadiums. To mitigate the carbon footprint linked with the development of World Cup venues as much as possible, the SC chose, following the approval from FIFA, GSAS as the green buildings certification system for all stadiums. “Through the adoption of GSAS, SC showcased a lifecycle approach for the first time in FIFA history by implementing sustainability best practices on all stadiums through the entirety of the life of the facility that encompassed design, construction, and operation phases. “In the same vein, SC voluntarily implemented GSAS Construction Management certification for the stadiums to ensure that all contractors abide by best sustainability practices during the course of construction. With less than a year ahead of the World Cup, the stadiums are pursuing GSAS Operations certification to ensure sustainable operations and management of the venues in the post-construction stage,” Dr al-Horr added.    

In its first u2018Invest Qatar Annual Report 2021u2019, the agency stated that the countryu2019s startup ecosystem u201cis also making strides in expanding and improving the environment for startups to thrive and innovate.u201d
Business
Qatar’s startup ecosystem ‘making strides’ to expand and innovate: IPA Qatar

Qatar remains a viable seedbed for different startups and offers entrepreneurs a host of opportunities to transform their innovative ideas through different programmes and access to funding, according to a report released recently by the Investment Promotion Agency Qatar (IPA Qatar). In its first ‘Invest Qatar Annual Report 2021’, the agency stated that the country’s startup ecosystem “is also making strides in expanding and improving the environment for startups to thrive and innovate.” According to the report, the Tasmu programme, launched by the then Ministry of Transport and Communications, was a key player in expanding Qatar’s ICT sector through building connections between the public and private sector, providing funding, and empowering startups. The report also noted that the Qatar Science and Technology Park (QSTP) also took several initiatives to foster innovation in the country, including partnerships with Qatar Development Bank (QDB) and Microsoft. The funding available for startups has also increased significantly in Qatar compared to the previous year, the report emphasised, citing Qatar FinTech Hub (QFTH) as the “second-highest investor in the region.” Despite the pandemic, the report said Qatar has succeeded in building momentum to launch new programmes, initiatives, events, and partnerships to encourage technological innovation and further rejuvenate the startup ecosystem. A number of events, including ‘Qatar FinTech Summit’, ‘Qatar Innovation Week’, and ‘Qitcom’ – the largest information and communication technology showcase and event in Qatar – were held since 2019, the report stated. According to the report, Qatar’s growing economy offers investors lucrative opportunities while bringing progress to development and diversification goals across sectors and geographies. As the country continues to pursue its economic diversification objectives, the report noted that many opportunities, especially in the non-hydrocarbon sector, have become available for investors. On foreign direct investments (FDI), the report stated that Qatar’s effective economic management during the pandemic and future growth projections are also evidenced in its FDI flows. During the height of the crisis, while FDI flows fell in most countries, Qatar demonstrated resilience, and FDI flows into Qatar recovered in the last quarter of 2020 and in the first quarter of 2021, it also stated. “In 2021, most of the foreign investments originated from the US (22%), with a total investment of QR895mn. Switzerland accounted for 14% of the total FDI flow, followed by Cyprus and Kuwait. Other countries that invested in Qatar include India, Germany, Canada, the UK, France, and the UAE among others,” said the report. The report stated that despite the challenges the pandemic posed on global job markets, Qatar was able to demonstrate the resilience of its economy. Investors leveraged Qatar’s strategic location, vibrant environment for innovation, and business-friendly ecosystem to expand their business in the region, and in the process, created quality jobs for the local population and attracted global talent to Qatar. “In 2021, FDI inflows to Qatar created an estimated more than 4,200 jobs. Most of the jobs were created in the software and IT services, with this sector generating close to 20% of the total jobs. Building materials, food and beverages, business services, and communication also created a good number of jobs in 2021,” the report stated.    

The QBG report highlights the investment opportunities emerging in agri-tech across the Gulf as GCC countries move collaboratively and individually to find sustainable solutions for their food security challenges
Business
Qatar ahead of GCC neighbours in food security, says OBG report

Among Gulf Co-operation Council (GCC) countries, Qatar is leading its Gulf neighbours in the Global Food Security Index 2021, according to a report by Oxford Business Group (OBG). Qatar was listed in the 24th spot (out of 113) in the global ranking and garnered an overall score of 73.6 (out of 100). Kuwait followed with a global ranking of 30 and an overall score of 72.2. According to the Covid-19 Response Report, produced by OBG, in partnership with the Arab Organisation for Agricultural Development, the Global Food Security Index 2021 listed other GCC countries as follows: UAE (35th global ranking, 71 overall score), Oman (40th, 70), Saudi Arabia (43rd, 68.5), and Bahrain (44th, 68.1). Titled ‘Agri-tech & Food Security in the GCC’, the report shines a spotlight on the wide-ranging strategies for agricultural innovation and food production taking shape across the region in an easy-to-navigate and accessible format that includes key data and infographics, OBG said in an earlier statement. The report highlights the investment opportunities emerging in agri-tech across the Gulf as GCC countries move collaboratively and individually to find sustainable solutions for their food security challenges, it also stated. “When looking to emerging markets, GCC countries are considered among the most food-secure in the Global Food Security Index 2021, compiled by Economist Impact. However, the region lacks direct control over the majority of its food supply and remains dependent on imports,” the report pointed out. GCC members imported about 85% of their food prior to the Covid-19 pandemic. Indeed, almost all rice consumed in the region was imported, as well as around 93% of cereals, 62% of meat, and 56% of vegetables, according to consultancy strategy&. The report also stated that GCC countries have adopted several strategies in recent years to increase domestic agricultural production and hedge against disruptions to imports. A common component of these strategies has been water management, with all GCC members developing their capacity for desalination. In 2018, the report said the UAE inaugurated the world’s largest reserve of desalinated water to bolster domestic water resources. The man-made aquifer buried under the Liwa Desert holds about 26bn litres of water and can supply residents with around 100mn litres of water per day. Elsewhere, treated wastewater is used to irrigate certain crops. Kuwait and Saudi Arabia reuse about 50% of their wastewater, and Bahrain and Qatar reuse 10% to 15%, according to RAND Corporation. When it comes to boosting agricultural output in the harsh climatic conditions of the Gulf, alternative crop varieties are being adopted. For example, the Kuwait Institute for Scientific Research and the International Centre for Biosaline Agriculture in Dubai conduct advanced research to develop drought- and saline-tolerant crop varieties. Direct support for farmers is another common feature of food security plans, said the report. In 2019, Saudi Arabia initiated a programme to help small farmers switch to organic farming as part of a goal to bolster organic output by 300% by 2030. The Saudi authorities also inaugurated the Sustainable Agricultural Rural Development Programme in 2019 to boost the production, processing, and marketing of fruit, fish, livestock and Arabic coffee, as well as the systematic cultivation of rain-fed crops. Other GCC members have similar programmes. In Qatar, the State Food Security Projects 2019-23 plan aims to make the country 70% self-sufficient in eggs and greenhouse-produced vegetables, 95% self-sufficient in fresh fish, and 100% self-sufficient in fresh dairy products, poultry, and shrimp by 2023, according to the report.    

File photo showing Gord founding chairman Dr Yousef al-Horr bestowing the GSAS certificate to Dr. Mohamed Althaf, director, LuLu Group International, which is seeking to build more 'green' hypermarkets across Qatar.
Qatar
Number of 'green organisations' to breach 1,600 mark by year-end

The number of organisations adopting green building policies in Qatar and in other Gulf Cooperation Council (GCC) countries is expected to breach the 1,600 mark by the end of this year, Gulf Organisation for Research & Development’s (Gord) top official has said. Asked about the total number of companies in Qatar that received the Global Sustainability Assessment System (GSAS) certification and how many more is Gord looking to certify by the year’s end, Gord founding chairman Dr Yousef al-Horr said: “It is heartening to see Qatar’s leading organisations stepping up to adopt green building practices in line with their commitment to the National Climate Change Action Plan and Qatar National Vision 2030.” “Presently, more than 1,500 projects, including districts, neighbourhoods, infrastructure projects, and a wide range of building typologies, have been registered under GSAS in Qatar and the GCC region. With many new projects reaching completion, we foresee this number to cross 1,600 by the end of this year,” al-Horr told Gulf Times in an interview. In implementing GSAS green building principles, al-Horr explained that Gord is working with a wide range of public and private organisations operating in multiple sectors – from shipping and aviation to retail, healthcare, sports, hospitality, education, and residential sectors. All government buildings are now mandated to receive GSAS green building certification, he noted. In 2021, al-Horr said 23 health centres across Qatar were awarded GSAS operations certifications with ‘Silver’ and ‘Gold’ ratings. He also noted that all Doha Metro stations are GSAS certified, as well as all the stadiums prepared for the 2022 FIFA World Cup. Key projects in the hospitality sector include Katara Towers, which became the first hotel to receive GSAS 5 Stars, al-Horr stressed. “On the commercial and retail side, we have Doha Festival City, National Museum of Qatar, and Museum of Islamic Arts, among several other projects that have reinforced their organisational commitment to sustainability with green building certifications,” al-Horr also emphasised. Within the education sector, al-Horr said Qatar Foundation’s headquarters – the 2015 building at Education City, as well as SouthNest Building, have received GSAS Operations. Other key projects include QTerminals Container Terminal 2 and Ras Bufontas Free Zone, to mention a few, he said. In May last year, Gord bestowed a GSAS certificate to LuLu Group in Qatar for LuLu Hypermarket’s Al Messila branch, making LuLu one of the first retailers in the Mena region to become GSAS-certified. “Within the retail sector, LuLu International has demonstrated environmental stewardship through conscious efforts aimed at promoting sustainability. Among these initiatives is the adoption of GSAS operations for five LuLu branches,” al-Horr added.    

Nongshim's vertical farming facility.
Business
Qatar’s agribusinesses to benefit from South Korean firm’s vertical farming solutions, says official

One of South Korea’s major food manufacturers has been eyeing the Middle East as a potential destination for its vertical farming solutions, according to an official of the company. Nongshim, South Korea’s leading instant noodles and snack manufacturer, has 11 factories globally and is one of the largest food companies in South Korea with sales of about $5bn, said Y J Bae, manager at Nongshim. Bae noted that agriculture was among the key topics of the meeting held between HE the Prime Minister and Minister of Interior Sheikh Khalid bin Khalifa bin Abdulaziz al-Thani and South Korean Prime Minister Kim Boo-kyum in Doha last March. Both officials also discussed Qatar-South Korea bilateral relations in the fields of economy, investment, energy, health, security and sports, especially cooperation in the 2022 FIFA World Cup, in addition to discussing developments in regional and international situations of common interest, especially developments in the region, Qatar News Agency (QNA) reported earlier. During the ‘9th Qatar International Agricultural and Environmental (Agritech and Envirotech) Exhibition 2022’ held last month at the Doha Exhibition and Convention Centre (DECC), Bae said several Qatari officials requested their South Korean counterparts to support Qatar in terms of advanced vertical farming technology. “Aside from water scarcity, the conditions of the Middle East region do not support conventional farming. Since 2021, Nongshim has been pursuing this as one of its priority agendas through a dedicated team. The company has been focusing on introducing its advanced technology to Qatar, which has been enhancing its self-sufficiency programmes. “Nongshim, with its highly-automated and simple vertical farming technology, is one of the pre-selected companies by Qatar Development Bank (QDB) in terms of technology for the vertical farming projects. In September 2020, QDB executives visited South Korea and toured Nongshim’s food production facilities, as well as its vertical farming facility,” Bae told Gulf Times yesterday. To introduce its technology in Qatar, Bae said Nongshim is planning to host a webinar for companies interested in vertical farming and offer them the opportunity to participate and explore ways of introducing the technology in the country. “One of the advantages of Nongshim’s vertical farming technology is its automated robotic solution, which requires a minimum workforce and low maintenance costs while ensuring efficient output. Nongshim aims to find capable entities in Qatar that would be interested in this technology,” Bae pointed out. Also, Bae said Nongshim is willing to provide training programmes for would-be vertical farmers in Qatar, allowing them to train and to be certified to operate and manage their own vertical farms. “Training is an important element to successfully run a vertical farm. It has a positive impact on the output, quality, and quantity of the produce. Nongshim is also willing to provide training to create talent in this field. “Qatar has a rich infrastructure that can be well-utilised for vertical farming. Nongshim is not just a food company but a conglomerate specialising in this field and supported by its subsidiaries in engineering, R&D, and packaging, among others,” Bae added.  

Gord founding chairman Dr Yousef al-Horr.
Business
Gord underscores role in helping local businesses get ‘green’ certifications

The International Green Mark (IGM), an ‘ecolabeling’ system of Qatar-based Gulf Organisation for Research & Development (Gord), aims to help local suppliers and manufacturers achieve international quality standards through IGM certifications, Gord’s top official has said. In an interview with Gulf Times, Gord founding chairman Dr Yousef al-Horr emphasised the organisation’s efforts to help promote the growth of Qatar’s entrepreneurship ecosystem and initiatives that support the country’s small and medium-sized enterprises (SMEs) and startup community. “As a 100% Qatari company, Gord has always supported the country’s small and medium-sized enterprises (SMEs). Understanding the role of local businesses in the nation’s sustainable development, a key criterion of the Global Sustainability Assessment System (GSAS) framework is the use of local materials. “While this is essentially aimed at reducing carbon emissions linked with cross-border transportation, it has also supported the local manufacturers in the market,” al-Horr pointed out, citing the significance of its IGM ‘ecolabeling’ system. Aside from this, al-Horr also said Gord, which is headquartered at the Qatar Science Technology Park (QSTP), has been collaborating with QSTP on programmes that would contribute in accelerating Qatar’s economic growth. “As a research and development organisation, we are proud to be headquartered in Qatar Science Technology Park, which has supported Gord’s sustainability drive in many ways. At the heart of our research activities in QSTP is ‘TechnoHub’, which is home to innovative research programmes exploring the application potential of novel and cutting-edge technologies. “Among these technologies is a patented cooling system that significantly reduces energy consumption and carbon footprint. Then there is low carbon cement produced from novel cement chemistry that utilises sulphur within existing cement production infrastructure,” al-Horr explained. He said: “Another key innovation is sustainable gypsum plaster board produced from carbon capture and mineralisation processes using more than 30% of CO2 by weight. All these research projects along with many others, in areas of sustainable materials and energy efficiency, benefit from QSTP’s state-of-the-art facilities.” In terms of collaboration with QSTP member organisations, al-Horr said Gord recently signed an MoU with Cisco whereby the two organisations will work in areas of sustainable building solutions, research and development projects in the area of green products, and capacity building through trainings and educational programmes, as well as dissemination of knowledge through industry events. Asked about Gord’s role in building more smart cities in Qatar and in the manufacture of smart city solutions, al-Horr said the organisation has been closely working with Lusail Smart City since the beginning of the project. Lusail is Qatar’s first smart and sustainable city, said al-Horr, citing its centrally controlled systems for water, energy, transportation, and information systems, among others. “The project first implemented GSAS on master planning stage and achieved 4 Stars rating under the GSAS ‘Design & Build for Districts & Infrastructure’ scheme. From there on, Lusail City made it mandatory for all developers to obtain GSAS green building certificate with a minimum of 2 Stars rating. “Projects achieving outstanding green building ratings are also incentivised with free floor area ratio (FAR). What makes Lusail a truly sustainable smart city is its efficient wastewater recycling facilities, solid waste management, district cooling, and the world’s largest gas network,” al-Horr emphasised. In terms of smart city solutions, al-Horr said Gord has developed a number of simulation and mapping tools for projects to reach energy and water efficiency. “Gord’s Energia Suite and Water Suite are Python-backed tools that calculate the project’s energy and water consumption and translate the raw data into meaningful performance scores, thereby eliminating the need to spend significant time on implementing modifications for enhanced energy and water efficiency. “Then there is Arcadia Suite, which uses complex algorithms to measure the cooling efficiency of energy-intensive projects. We have also launched the Energy Maps Visualisation Tool that will consolidate energy data to create energy maps for any districts, regions, or countries,” he added.    

The availability of digital platforms and apps, as well as low daily infection rates and more relaxed health and safety protocols, are among the factors that have been steadily pushing remittance activity back to pre-pandemic levels, according to an exchange house official.
Qatar
Remittance activity 'gradually returning to pre-pandemic levels'

The availability of digital platforms and apps, as well as low daily infection rates and more relaxed health and safety protocols, are among the factors that have been steadily pushing remittance activity back to pre-pandemic levels, according to an exchange house official. Similarly, foreign exchange is seeing an uptick in activity as people are preparing to go on family vacations during the Eid holiday, which is also one of the factors driving a surge in remittances since the beginning of Ramadan, according to Dr Zubair Abdulrahman, operations manager of Al Zaman Exchange. “March was one of our highest transactions months. Since the start of Ramadan, more customers have been sending remittances back home. We have recorded an increase of around 5% to 10% in remittance activity compared to the previous month,” Abdulrahman told Gulf Times yesterday, adding that the top countries that were sending remittances include India, Pakistan, Sri Lanka, Bangladesh and Egypt. Aside from these countries, Trust Exchange general manager KNS Das noted that expatriates from Nepal and the Philippines were also among those who sent the most remittances during Ramadan, allowing the exchange house to record a 5% to 10% surge in remittance activity. “This season is a good time for business, especially if employees get their salaries early because of the upcoming holiday, so we are expecting an increase in transactions in the run-up to Eid al-Fitr,” Das noted. With banks now also offering remittance services, exchange houses are witnessing a slight drop in customer footfall in the physical branches, according to Abdulrahman, who added that many customers are making the most of the available digital platforms and apps. “Nonetheless, we are still getting good transactions from customers visiting our branches, while at the same time, our digital platforms are also getting a good reception from tech-savvy people and white-collar workers,” Abdulrahman pointed out. According to Das, Trust Exchange is planning to launch a promotion to attract more people to utilise the company’s app and digital platforms. “Currently, we are in the final stages of updating our systems. Digitalisation is part of a continuous process to encourage more customers to transact businesses online. It is, likewise, important to boost consumer confidence in online transactions as this would encourage more people to utilise apps or digital platforms,” Das stressed.    

Yousef al-Shelash, chairman, Dar Al Arkan Real Estate Development Company, delivering a speech. He expressed confidence in the Qatari market, citing the countryu2019s rapid economic development. PICTURE: Thajudheen
Qatar
World Cup puts Saudi-based property developer in ‘sweet spot’ for real estate investment in Qatar

A Saudi-based property developer has described Qatar as a “sweet spot” for investments, citing the 2022 FIFA World Cup as an opportune time to expand into the Qatari market. Yousef al-Shelash, chairman, Dar Al Arkan Real Estate Development Company, expressed confidence in the Qatari market, citing the country’s rapid economic development. “We believe in the Qatari market, which is why we are bringing our business here. We also believe that we are in the ‘sweet spot’ considering that in a few months, Qatar will be hosting the 2022 FIFA World Cup, giving us a really good opportunity to expand in this country because we have been looking at this market for a long time,” al-Shelash told Gulf Times. In March, al-Shelash signed an agreement with Qetaifan Projects managing director Sheikh Nasser bin Abdulrahman al-Thani during the exclusive unveiling of Les Vagues residences by ELIE SAAB. Qetaifan Projects and Dar Al Arkan launched the premium residential and lifestyle project on Qetaifan Island North marking Dar Al Arkan’s first entry into Qatar with the aim of driving the development of the luxury property market and supporting the growth of Qatar’s real-estate sector. In an earlier press statement, Qetaifan Projects noted that work on the development will start in the second quarter of this year and total sales are expected to reach over QR1bn. Qatar will be the first country in the Middle Eastern to host the FIFA World Cup, which is slated this year from November 21 to December 18. According to al-Shelash, the tournament also serves as a key element in marketing Les Vagues residences by ELIE SAAB to prospective buyers. “The whole world is coming to Qatar for the World Cup, so this event is absolutely an opportunity for us to promote this project, and it also presents perfect timing for our sales and marketing teams,” al-Shelash pointed out. During the launch event, Sheikh Nasser previously said: “Following our concerted efforts to provide the local market with international standards that work on developing and revitalising sectors, such as tourism, hospitality, entertainment, and, of course, real estate development, we are happy to bring a new innovative project to Qatar. “We’re looking forward to working with Dar Al Arkan and ELIE SAAB, a global pioneer in design, on this premium project that is unlike any other in the region. Qetaifan Island North is being developed as the first touristic entertainment destination in Qatar, which will put the country on the regional and global tourism map, and Les Vagues residences is an integral project within the master plan of the development.” Qetaifan Island North is emerging as a thriving waterfront hub representing a new, modern lifestyle. Inspired by the rich culture and nature of the region, the distinct island will feature a thrilling waterpark, a luxurious hotel, unrivalled accommodation, exceptional retail options, and world-class facilities that make it a vibrant and attractive community. The island is also a symbol of the vision, insight, and aspiration to develop into an internationally acclaimed and recognised landmark location and Qatar’s future iconic destination.    

LuLu Group chairman Yusufali M A and Qatari dignitaries during the ribbon-cutting ceremony. PICTURES: Thajudheen
Qatar
LuLu Group continues expansion in Qatar with 18th store launch

* Group opens new outlet in Ain Khaled   LuLu Group opened on Wednesday its 18th hypermarket in Qatar, located in the Ain Khaled district, as part of its chain of future expansions for the 2022 FIFA World Cup season, thus positioning itself as a catalyst for economic growth. The expansion of the group’s retail footprint in Qatar comes in line with the country’s preparations for a major business boost with the upcoming World Cup, which Qatar will be hosting this November. The new store was jointly inaugurated by Sheikh Falah bin Ali bin Khalifa al-Thani and Sheikh Abdullah bin Hassan al-Thani, in the presence of LuLu Group chairman Yusufali M A and other officials. The event was also attended by Sheikh Abdul Rahman bin Abdullah al-Thani, Nabil Abu Issa, Adil Abdul Razak, Nasar al-Ansari, C V Rappai, Dr R Seetharaman, Indian ambassador Dr Deepak Mittal, and the ambassadors of Sri Lanka, Indonesia, Georgia and Armenia. The new store is spread over 150,000sft on two levels and designed to offer shoppers the best LuLu brands and retail experience. It also includes an extensive grocery section, the LuLu Connect electronics store, the glamorous LuLu Celebrate designer fashion line, the high-street REO fashion brand, BLSH – the branded perfumes, cosmetics, make-up and beauty line, and eyewear brand Eyexpress. Yusufali said the new store opening comes in line with LuLu Group’s commitment to the Qatari leadership’s vision and energy for a bright future. The group is already planning more store openings in the country this year in Barwa Al Khor, Giardino Mall at The Pearl-Qatar, and Barwa Madinat in preparation for the further development of the economy. “LuLu’s expansion is a reaffirmation of the group’s confidence in Qatar’s leadership and part of a global expansion plan, and also a sign of the group’s support of the region’s recovery after a harsh business setback during the pandemic.   “Qatar is gearing up for the 2022 FIFA World Cup, football’s biggest tournament and also for the Asian Games 2030. We are confident in the upward development trajectory of the nation. We promise to match our capacity and vision with that of Qatar’s blueprint for a bright future,” Yusufali said. Dr Mohamed Althaf, director of LuLu Group International, said: “The opening of LuLu Hypermarket at Ain Khaled brings the number of LuLu stores in Qatar to 18, and this would not have been possible without the help and support of government authorities and our valued customers. This phenomenal growth is a solid proof of the strategic importance of Qatar to our business plans and our confidence in the resilience and future of Qatar’s economy.” LuLu Qatar operations have set the bar high for the hypermarket chain in the country and won awards for its innovative spin on healthy grocery and fresh food deliverables. The LuLu Ain Khaled store will also showcase award-winning features, such as Planet Y, the selection of plant-based meat substitutes and foods, organic and super food selections, an extensive ‘free-from’ range, and a zero-waste refill station where eco-conscious shoppers can refill reusable containers with dry goods including pasta, grains, and other items. The Ain Khaled hypermarket is making it even easier for vegetarian and vegan shoppers to find plant-based groceries in one place by introducing Planet Y. The new store will also have a dedicated area to support local initiatives and stock all Qatari products on a priority basis. Fresh juices are also available throughout the day at the Juice Station, including a wide range of fresh fruits and vegetables, meat and seafood. This will encourage shoppers to eat healthily and learn new cookery tips from experts through a series of in-store cookery classes. The new hypermarket will also have a dedicated area for eco-friendly products. Children will benefit from the Toys Section, which features a specially chosen collection of ‘STEMtainment’ toys to stimulate young minds in line with the latest STEM (science, technology, engineering, and mathematics) educational principles. For adults, there is a useful and extensive Internet of Things (IoT) section to facilitate smart homes. There are ample dedicated car parking spaces for LuLu customers and checkout is made easier with green check-out counters, wheelchair access, elevators and ATM facilities. A pharmacy and three popular fast-food eateries are on the premises: Starbucks, McDonald's and Papa John’s Pizza. The new hypermarket also boasts of a wide tenant mix, such as Ooredoo counter managed by RPTech, V EYE P Optics, Jawhara Jewelry, and Doha Beauty Centre, among others.    

LuLu Group chairman Yusufali M A answering questions from the media while Dr Mohamed Althaf, director of LuLu Group International, looks on. PICTURE: Thajudheen.
Qatar
LuLu eyes more ‘next-gen, carbon-neutral stores’ in Qatar, says group chairman Yusufali

As Qatar prepares to host the first carbon-neutral FIFA World Cup of its kind, LuLu Group is set to establish more of its next-generation and carbon-neutral stores across the country, chairman Yusufali MA told Gulf Times. “The world is rapidly changing towards digitalisation, new transformations, and innovation, so we have to keep pace with the market demand. This is why we have introduced a wide variety of sections in our new stores. “We will also upgrade our previous hypermarkets to become ‘green stores’,” he explained yesterday on the sidelines of the opening of LuLu’s 18th store in Qatar, located in the Ain Khaled district. According to Yusufali, LuLu is targeting a “massive expansion” plan. He said LuLu was able to open four stores during the pandemic, citing the “wholehearted support” extended by the government and Qatari leadership. Aside from its expansion plans, LuLu will continue to offer a wide range of premium products, good pricing, and quality service, Yusufali emphasised, adding that the Qatari market is a major contributor to LuLu’s expansion growth. Dr Mohamed Althaf, director of LuLu Group International, also stressed that the Ain Khaled hypermarket is among LuLu’s next-generation stores. “In all our stores, we are trying to reduce our carbon footprint. By 2030, our target is to reduce the carbon footprint by 50%, and going forward it would be carbon neutral,” he explained. Yusufali added that before the 2022 FIFA World Cup, LuLu will be opening three more stores in Qatar. The LuLu Hypermarket Ain Khaled branch offers different key features, such as Planet Y, making LuLu the first retailer to open a vegan hypermarket destination with a service counter entirely dedicated to plant-based products with meat-free options and meat-free butchery. Planet Y makes it easier for vegetarian and vegan shoppers to find plant-based groceries in one place. The new store has a dedicated Refill Station area where shoppers can buy refillable containers, use a paper bag, or bring their own container. Customers can refill products, such as tea, cereals, pasta, and other essentials. The initiative will encourage customers to reduce and recycle. Major brands like 24 Matra, Organic Tattva, Agrofino, Somerset, White’s, and Pasta Toscana are currently available in the refill aisles. The ‘Free From Worries’ section offers the very best products sourced from around the globe. Customers can also find items for specific diets, including keto, gluten-free, and vegan, among others. LuLu Ain Khalid is also the go-to for smart home accessories. A smart home means a smarter and more comfortable lifestyle. The ‘Thing’ section, LuLu’s IoT department, helps customers wanting to update, upgrade, and convert appliances and homes to be energy efficient. Similarly, the store has a dedicated branded digital marketplace – ‘LuLu Connect’, for digital accessories, laptops, smartphones, smart TVs, smart home appliances, and more. The store is also implementing full-fledged recycling initiatives to efficiently manage and recycle food, plastic, paper, and other wastes generated. As part of LuLu’s ongoing efforts and commitment to sustainability, the hypermarket chain has installed a Reverse Vending Machine (RVM) to encourage and educate customers on segregation and the recycling of plastic bottles and metal cans. Other amenities being offered at the Ain Khaled branch are ‘Fashion-forward Glamour’, value for money LuLu fashion brands, a dedicated area for eco-friendly products, the ‘STEMtainment’ section for STEM (science, technology, engineering, and mathematics) toys, and the Juice Station, which offers fresh, fruity, and healthy juices. Ends    

Addressing the Arab regionu2019s challenges in the Intellectual Property (IP) and copyright ecosystem would help spur growth in small and medium-sized enterprises (SMEs), innovation, and entrepreneurship, according to Kareem Hassan, executive director, ESCWA Technology Centre for Development.
Business
Hurdling IP, copyright barriers seen to boost innovation, entrepreneurship in Arab region

Addressing the Arab region’s challenges in the Intellectual Property (IP) and copyright ecosystem would help spur growth in small and medium-sized enterprises (SMEs), innovation, and entrepreneurship, according to Kareem Hassan, executive director, ESCWA Technology Centre for Development. Hassan made the statement in his opening remarks during the recently-held ‘Intellectual Property for Promoting Innovation and SMEs in the Arab Region’ online workshop organised by the World Intellectual Property Organisation (WIPO) and the ICC Centre of Entrepreneurship (CoE). He explained that the Arab region faces “a considerable challenge” with the IP and copyright ecosystem, which leads to “a significant brain drain of Arab innovators, and reflects on the number of inventions and IP registrations.” The gap in IP creation protection and enforcement resulted in the lagging of Arab states behind other countries, according to Hassan. He also noted that only a few countries in the Arab region have an IP national strategy in place and that not all of them have access to international conventions. Hassan said, “Moreover, internal political discourse delays the enactment of new laws. The ecosystem challenges reflect on Arab startups and SMEs, as well, that are facing weaknesses in the patent drafting, registering trademarks, and competitive intelligence, in addition to the lack of IP registration professions, in terms of attorneys and agents.” However, Hassan pointed out that there are several solutions for solving the IP challenges in the Arab region. He said, “[these] revolve around investing in the human and knowledge capital, making IPs accessible to the business world and facilitating effective partnerships, in addition to identifying in a participatory manner clear goals and strategies to increase the number of innovations that serve the national and regional SDGs.” Hassan noted that the UN Economic and Social Commission for West Asia (ESCWA) works on solidifying legal frameworks that foster public-private partnerships and link up local and international agendas that capitalise on the technology commercialisation outcomes and knowledge transformation into capital. Citing the significant role of ICC, WIPO, and other partners, Hassan said the event gives a clear understanding and overview of the critical topics related to IP for promoting innovation and SMEs in the Arab region. The ‘Intellectual Property for Promoting Innovation and SMEs in the Arab Region’ workshop provided an overview of the status and challenges of IP systems in the Arab region and the role of IP in promoting entrepreneurship, innovation, and small and medium-sized enterprises (SMEs). It also discussed best practices and lessons learnt from select Arab countries on advancing IP systems in their ecosystems and presented the WIPO IP Diagnostics tool to improve the IP-readiness of innovators and SMEs.      

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Business
Experts focus on intellectual property challenges among Arab startups, SMEs

The World Intellectual Property Organisation (WIPO) and the ICC Centre of Entrepreneurship (CoE) have recently organised a workshop titled ‘Intellectual Property for Promoting Innovation and SMEs in the Arab Region’. The workshop provided an overview of the status and challenges of intellectual property (IP) systems in the Arab region and the role of IP in promoting entrepreneurship, innovation, and small and medium-sized enterprises (SMEs). Also, the online event discussed best practices and lessons learnt from select Arab countries on advancing IP systems in their ecosystems and presented the WIPO IP Diagnostics tool to improve the IP-readiness of innovators and SMEs. Joelle Yazbeck, executive co-ordinator, ICC-ESCWA Centre of Entrepreneurship; Catherine Foster, lead, ICC Centre of Entrepreneurship; and Kareem Hassan, executive director, ESCWA Technology Centre for Development, delivered the opening and welcoming remarks. The panel discussion titled ‘Overview of Intellectual Property in Arab Countries’ saw the participation of Dr Sacha Wunsch-Vincent, head of section, Economics and Statistics Division, and co-editor of The Global Innovation Index (GII), World Intellectual Property Organisation (WIPO); and Dr Pierre el-Khoury, IP specialist lawyer, Law School Professor, and director of the Lawyers Institute at the Beirut Bar Association (Lebanon). Joining the second panel discussion ‘Success Stories: IP for Promoting Innovations and SMEs’ were Souad Boussaid, technology transfer manager, National Agency for Scientific Research Promotion; and Dr Mohamed Hegazy, senior legal advisor, Chamber of Communications and Information Technology; and Dr Mamoun Taher, founder & CEO, Graphmatech. The webinar discussed the following points: the status of intellectual property systems in the Arab region, the GII developed by WIPO, the relationship between intellectual property and innovation, the role of intellectual property in promoting entrepreneurship and SMEs, challenges and opportunities in IP systems in the Arab region, recommendations, country experiences, and the WIPO IP Diagnostics Tool. Foster said the ICC launched the ICC Centre of Entrepreneurship in 2020 to support, prepare, connect, and mobilise the next generation of entrepreneurs and business leaders. The centre focuses on four key tracks: inspiring future entrepreneurs, digitising SMEs, scaling up startups, and fostering inclusive entrepreneurship. She said the centre works with global, regional, and local partners to ensure that the programmes being offered are both relevant locally and regionally but also able to scale up successful programmes globally. “The Center of Entrepreneurship is pleased to be partnering with WIPO to help entrepreneurs navigate IP regulation and better manage their intangible assets. We have great asset in the WIPO IP diagnostics tool to help entrepreneurs better understand and use intellectual property regulations. “This is in recognition of the fact that entrepreneurs face a particular set of challenges when it comes to intellectual property issues. IP can be a complex area and obtaining protection and advice on IP can be very expensive. The lack of information on IP can make it difficult for entrepreneurs to know when they should ask for help,” Foster said. She added: “For those reasons, we believe that capacity building is crucial and that SMEs should receive all the support they can get. An adequate IP protection strategy can make all the difference for entrepreneurs bringing innovative solutions to market and to receive a return on their investment.”    

Qataru2019s ambassador to Indonesia Fauzia Edrees al-Sulaiti.
Business
Qatar-Indonesia share ‘promising’ investments in agriculture, transport, energy and tourism, says envoy

Exploring “promising” investment opportunities in a wide range of sectors, including agriculture and energy, could further bolster Qatar-Indonesia economic relations, a top Qatari diplomat has said. Speaking at a recently-held webinar, Qatar’s ambassador to Indonesia, Fauzia Edrees al-Sulaiti, also noted that Qatari businesses are looking forward to investing in Indonesia following the successful projects by Ooredoo, QNB, Nebras Power, and Qatar Investment Authority (QIA). Qatar and Indonesia are looking forward to increasing cooperation in the field of investments, al-Sulaiti said in a speech, adding that “Indonesia is a strategic partner of Qatar.” “There is a strong desire between both sides to further develop investment relations between Qatari and Indonesian companies to help promote investment and share economic benefits. “I hope we can create a stronger and vibrant continuity between Qatar and Indonesia. We are encouraging more companies to explore potential investments and opportunities available. In our view, the most promising sphere of co-operation is in agriculture, fisheries, transport, electrical, energy, oil and gas, tourism, and sciences and education,” al-Sulaiti said. During the webinar, Indonesian ambassador Ridwan Hassan said Indonesia-Qatar economic relations, particularly in trade and investment, have been showing an increasing trend. Trade between both countries, especially pre-Covid-19, has almost reached “$1bn,” he noted. “We have witnessed excellent bilateral relations between Qatar and Indonesia in different fields, thanks to the visionary leadership of both countries that cement the solid foundations of relations through high-level visits between 2015 and 2019 before the outbreak of the Covid-19 pandemic. “One of the recent achievements is the signing of a Letter of Intent by both countries’ foreign ministers to provide humanitarian and development assistance to Afghanistan. Even though this is mostly political, I believe that through this endeavour, economic co-operation will also flourish,” Hassan pointed out. Hassan said the webinar is one of the initiatives that aim to expand the bilateral cooperation between Qatar and Indonesia, especially in the economic field. He said both countries’ sovereign wealth funds “are in discussion for a possible project that would be established in Indonesia.” “Investment co-operation can easily be seen from the solid presence of quality investments from three Qatari companies in Indonesia: Ooredoo, QNB, and Nebras Power,” Hassan emphasised, adding that “there are also potential projects in the tourism sector with Qatar and hopefully in other areas.” He added: “We are following closely and enthusiastically the progress in the plan to develop an integrated dairy facility in Indonesia by Qatari firm, Baladna Food Industries (BFI), replicating what the company has successfully accomplished in Qatar in terms of producing milk and dairy products.”    

HE the Minister of Communications and Information Technology Mohamed bin Ali bin Mohamed al-Mannai handing over the award to CWallet CEO and founder Michael Javier and CWallet co-founder and COO Dr Abdulmohsin al-Yafei during the Qatar Digital Business Awards 2021 held recently.
Business
Qatar's world-class IT infra is key to empowering local startups, attracting international investors, says Doha-based fintech exec

Qatar’s massive investments in its IT infrastructure, coupled with a solid digital strategy and a wide range of entrepreneurship programmes, will play a key role in cementing the country’s place on the global map as a startup destination, an official of a Doha-based fintech company has said. “I believe that Qatar’s digital infrastructure, its capabilities, strategic innovation, and aspiration in becoming a regional digital hub and IT leader by empowering local tech startups will definitely attract international stakeholders – from investors to fellow aspiring startups, CWallet CEO and founder Michael Javier told Gulf Times Saturday. Javier’s statements came in the wake of the Qatar Digital Business Awards 2021 held recently at the Smart City Expo Doha 2022. The event honours companies and entrepreneurs for their valuable contribution to the growth and development of the digital sector in Qatar. During the business awards, CWallet won the award for ‘Innovative Fintech Solution of the Year’, which “recognises a company that entered the financial technology industry by implementing new and innovative solutions, challenging the status quo and contributing to a landscape change in the sector.” The other winners of the Qatar Digital Business Awards 2021 were App Lab (ICT Service Provider of the Year), Advancya Technologies (Systems Integrator of the Year), Sajdah (Mobile App of the Year), Meeza (Cloud Solution of the Year), Redlogik Solutions (Digital Startup of the Year), Matar – Hamad International Airport (Smart Solution of the Year), Ostrichess Branding & Marketing (SME Digital Transformation of the Year), Fatora (E-Commerce Solution of the Year), and Meddy (Most Valuable Innovation Response to Covid-19). Javier lauded the support being provided by the government to aspiring entrepreneurs and startups owners across various sectors in Qatar, and for the initiatives and programmes provided to CWallet by the Digital Incubation Centre (DIC), Qatar Science and Technology Park (QSTP), Qatar Development Bank (QDB), and Qatar Financial Centre (QFC). “The CWallet team is beyond grateful to Qatar’s citizens, residents, and the government for allowing us to thrive and fulfil our mission of creating high in-country value in Qatar’s business ecosystem. A smart city is a cashless and inclusive society,” Javier pointed out. Dr Abdulmohsin al-Yafei, CWallet co-founder and COO, said: “We would like to share the recognition to ‘Team CWallet’, its investors and business partners, especially the Qatari co-founders that are working behind the scenes of CWallet’s ongoing achievements. Such success wouldn’t be possible without the government’s initiatives in supporting Qatari entrepreneurs.” Javier also noted that the recently-held Smart City Expo Doha 2022 not only exposed CWallet to local and international partnerships, but also to various decision-makers in Qatar both in the private and public sectors that are willing to support tech startups on various opportunities that allowed them to validate their business approach.    

QSTP executive director Yosouf al-Salehi. PICTURE: Thajudheen
Business
Growth seen in Qatar’s women entrepreneurs, says QSTP official

There has been an increase in the number of women in Qatar who are pursuing entrepreneurship through the various programmes being offered by Qatar Science and Technology Park (QSTP), part of Qatar Foundation Research, Development & Innovation (QF RDI), according to a top QSTP official. “Over the last three years, there has been steady growth among females in startups at QSTP. It is clearly happening in that area not only among non-Qataris but with Qatari women, as well,” QSTP executive director Yosouf al-Salehi told Gulf Times. He said, “We have noticed in the past period, that there are more and more women trying to join the different programmes being offered at QSTP, such as in the accelerator programme. They also want to discuss how to open their businesses through the incubation programme. Al-Salehi explained that the approach across all sectors in the country is to encourage women to open up their own businesses. These initiatives have “greatly inspired” more females to step up and become entrepreneurs, he also pointed out. “The journey towards entrepreneurship is not without challenges, and they come in all forms across all sectors. Having said that, we are trying to persuade them to venture into tech. “There are many women in Qatar whose companies are specialising in the F&B sector or food supply business. However, we are trying to unlock the area of tech to have more female entrepreneurs in this field. And we are working on having more women in Qatar to focus on tech startups,” al-Salehi emphasised. In the area of STEM (science, technology, engineering and mathematics), it was previously reported that “Qatari women outnumber men in higher education, and participation of women in STEM education fields in Qatar is nearly 50% higher than the global average.” Al-Salehi pointed out that this is a very significant achievement in Qatar. But he noted that while being knowledgeable in STEM is an advantage, it is, likewise, important that an entrepreneur has the skills in running a business or a company. He stressed that entrepreneurs must be well-informed in areas, such as finance, leadership, and human resources how to manage people and recruit the right workforce, in order to successfully run their businesses. On its website, QSTP’s acceleration programmes include ‘XLR8’ and ‘ELV8’. XLR8 is a unique programme that helps promising innovators and entrepreneurs determine if their tech-based ideas have commercial viability, by giving entrepreneurs the tools needed to assess market fit, customer traction, and investor awareness. On the other hand, ELV8 is a 12-month growth accelerator programme that serves as a launchpad for the global growth of Qatar’s tech startups in order for them to expand their business into new international markets and will be delivered in partnership with Silicon Valley-based Plug and Play. Last year, QSTP announced a pioneering new partnership with Qatar Development Bank (QDB), which aims to enhance Qatar’s economy, boost RDI within the private sector, and support the nation’s start-up community. The partnership, which is targeting start-ups, entrepreneurs, and small and medium-sized enterprises (SMEs), will see QSTP and QDB leverage both organisations’ incubator and accelerator initiatives through specialised workshops, boot camps, hackathons and investor pitching sessions. Co-investment opportunities will be explored for tech start-ups looking to deploy solutions locally and scale up globally, according to a previous report.      

Dr Teuku Faizasyah, acting head of Foreign Policy Strategy Agency at Indonesiau2019s Ministry of Foreign Affairs.
Business
Indonesian companies welcome investment ties with Qatari firms

Private and public sector players and stakeholders from Indonesia “are ready” to discuss investment projects with their counterparts in Qatar, according to an official of Indonesia’s Ministry of Foreign Affairs (MoFA). Dr Teuku Faizasyah, the acting head of MoFA’s Foreign Policy Strategy Agency, made the statement during a recently-held webinar titled ‘Promoting Investments of Qatar in Indonesia: Challenges, Experiences, & Opportunities’. “The objectives of this webinar are two-fold: First, we wish to gain insight from businessmen and champions of industry from our respective countries, particularly in the experience of doing business and investing in Indonesia. We wish to understand more about the challenges that you have encountered, if any, and at the same time, the opportunities that we have observed. “Second, we hope to facilitate more of Qatar’s investments in Indonesia. I am confident that through this webinar we would be able to identify ways and means to attract more investments from Qatar,” Faizasyah explained. According to Faizasyah, three major companies are investing in Indonesia: QNB, Ooredoo, and Nebras Power. “In addition, Qatar Investment Authority (QIA) has expressed interest to invest in the tourism sector in Indonesia,” he also said. Citing figures from Indonesia’s Ministry of Investment, Faizasyah said Qatar’s total investment in Indonesia stands at “$23.3bn” in six projects. He said: “This number is rather modest if you look at Qatar’s strong economic and financial capacity. Your economic statistics speak volumes. Qatar’s gross national income per capita of around $88,000 in 2020 is among the highest in the world. “The Qatar Investment Authority has a total asset of $115bn, ranking 12th among sovereign wealth funds globally. Qatar has diversified its overseas investment destinations. We can find a wide range of Qatari investments in the US, Europe, and China from the banking sector to oil and gas, as well as in sports.” Faizasyah pointed out that “it is a matter of time for Qatar to double or even triple its investments in Indonesia…we hope to have you as a partner in economic development and progress.” He invited participants of the webinar to explore investment opportunities in areas, such as energy, mining, banking, agriculture, tourism, infrastructure, telecommunications, and green industries. Faizasyah also emphasised that local businesses are also ready to collaborate with Qatari companies that wish to make Indonesia their hub in Southeast Asia, as well as for those that aim to expand their operations across the Asia Pacific region.    

HE the Minister of Commerce and Industry Sheikh Mohamed bin Hamad bin Qassim al-Thani leads the ribbon-cutting ceremony of the 3rd Build Your House expo alongside NeXTfairs co-founder and general manager Rawad Sleem and Abdul Aziz bin Hattab al-Kaabi, the vice chairman of Al Hattab Holding board of directors, and other dignitaries.
Business
Signed deals at BYH to breach QR600mn mark, says organiser

The value of deals to be signed in this year’s edition of Build Your House (BYH) Exhibition is expected to reach over QR600mn, according to an official of NeXTfairs for Exhibitions and Conferences, which is organising the event until March 30 at Qatar National Convention Centre (QNCC) Halls 8 and 9. Speaking to Gulf Times on the sidelines of Monday’s inauguration ceremony, Petula Rahme, Sales and Programmes manager at Nextfairs, said the deals signed in two previous BYH exhibitions stood at an estimated QR400mn per edition. “The market is much stable now and people are less apprehensive about the Covid-19 pandemic, so we’re expecting to secure more than QR600mn worth of deals considering that there are 150 exhibitors participating in this year’s event,” Rahme explained. She added: “Many of the participating companies will be launching innovative and smart technologies through the exhibition. Visitors arriving here are interested to know about the latest technologies in the market and Build Your House is a great platform to introduce these trends in sustainable development.” BYH 2022 was inaugurated by HE the Minister of Commerce and Industry Sheikh Mohamed bin Hamad bin Qassim al-Thani, who toured the exhibition hall, visited various pavilions and learned about the different services and products offered by the participating companies and institutions, alongside NeXTfairs co-founder and general manager Rawad Sleem and Abdul Aziz bin Hattab al-Kaabi, the vice chairman of Al Hattab Holding board of directors. In a statement, the minister stressed that BYH “reflects the important role played by the construction sector in supporting the construction boom in Qatar, in light of its aims to complete various development projects under the objectives of Qatar National Vision 2030.” “The exhibition represents an opportunity to learn about prominent technological developments and the best international practices in the field of engineering, construction, and design. It also forms a key platform to strike fruitful and successful partnerships with specialist companies and consultants in the field, in support of the national economy,” he said. Sleem said, “This extremely special day for BYH Exhibition and NeXTfairs demonstrates our growth and expertise. As we continue to gain government and private sector support, we can strengthen our offering to visitors and exhibitors, creating a platform for networking, collaboration, innovation, and knowledge sharing. “We are proud to create a destination where local housebuilders can gain the practical advice they need to build their dream homes and also play a contributing factor to boosting the local real estate and construction industry.” Five main sectors – consultants, contractors, suppliers, general services, and smart solutions – will enable visitors to build a network of contacts, source consultants, and discover all the materials they need. BYH will hold the second ‘Junior Interior Designer Competition’, in conjunction with VCUarts Qatar. Ten students joined the design challenge; the winning entries will be announced Tuesday from 3pm. The Knowledge Sharing Conference and Future and Smart Living Conference will feature 28 speakers from the following institutions: Civil Defence, Ashghal, the Ministry of Social Development and Family Services, AIA Middle East, Jaidah Group, Qatar University, and VCUarts Qatar. Many international companies, most of which are from Portugal and Turkey, are also participating in the event, while Ashghal, Kahramaa, Qatar Development Bank (QDB), and Commercial Bank are also in attendance.