Several countries worldwide have studied Qatar Development Bank's (QDB) National Guarantee Programme, which had already benefited over 4,500 companies in Qatar, a QDB executive has said.
At the height of the Covid-19 pandemic, QDB created the National Guarantee Programme, the government’s 100% guarantee scheme to aid companies and the SME sector struggling to pay rents and employees’ salaries, QDB communication and partnerships manager Soud al-Boinin said.
Speaking to Gulf Times on the sidelines of the launch announcement of Rowad Qatar 2021, al-Boinin said more than 4,500 companies in Qatar had benefited from the National Guarantee Programme, which was part of the QR75bn economic stimulus released by the government.
Al-Boinin said the National Guarantee Programme was “a success story” for QDB, adding that “countries around the world have actually studied that model and they were very flexible with getting the lessons learned and how they could develop similar products for their countries if and when similar pandemics would occur.”
“It is also a success story for Qatar that we share to other countries when we participate in government strategic meetings on a national level,” al-Boinin further explained.
While globally and in Qatar, the appetite to start a business during the pandemic was low, al-Boinin emphasised that there was a rise in tech companies that were catering to the needs of people through digital and innovative solutions, citing fintechs and other technology-based startups.
On the growth of export companies in the country, al-Boinin said QDB participated in the St Petersburg International Economic Forum (SPIEF) held in June this year where around 18 exporters from Qatar were able to sign deals worth QR75mn in various fields, such as medical, healthcare, and manufacturing.
“It was a diverse basket of products…regardless of which sector but a company will always have the potential to export if their product is good, and this was what we were able to do during the event,” he said.
He said initiatives like Rowad Qatar 2021, otherwise known as ‘Qatar Entrepreneurship Conference’, aims to help the local economy and Qatar’s private sector through workshops and top-notch speakers who will discuss topics revolving around this year’s theme ‘Digital Transformation & Thriving in the New Economy’.
“Digital transformation is a key to make sure that businesses would transition easily from something tactical and physical prior to the pandemic to efficient and agile operations moving forward.
“This includes adopting robotics and technology within their operations and AI solutions in data gathering, among others. The idea is to expand their knowledge on these innovative techniques to prepare them for similar incidents like Covid-19 and help them manage the impact of any new crisis,” he said.
At the height of the Covid-19 pandemic, QDB created the National Guarantee Programme, the government’s 100% guarantee scheme to aid companies and the SME sector struggling to pay rents and employees’ salaries, QDB communication and partnerships manager Soud al-Boinin said.
Speaking to Gulf Times on the sidelines of the launch announcement of Rowad Qatar 2021, al-Boinin said more than 4,500 companies in Qatar had benefited from the National Guarantee Programme, which was part of the QR75bn economic stimulus released by the government.
Al-Boinin said the National Guarantee Programme was “a success story” for QDB, adding that “countries around the world have actually studied that model and they were very flexible with getting the lessons learned and how they could develop similar products for their countries if and when similar pandemics would occur.”
“It is also a success story for Qatar that we share to other countries when we participate in government strategic meetings on a national level,” al-Boinin further explained.
While globally and in Qatar, the appetite to start a business during the pandemic was low, al-Boinin emphasised that there was a rise in tech companies that were catering to the needs of people through digital and innovative solutions, citing fintechs and other technology-based startups.
On the growth of export companies in the country, al-Boinin said QDB participated in the St Petersburg International Economic Forum (SPIEF) held in June this year where around 18 exporters from Qatar were able to sign deals worth QR75mn in various fields, such as medical, healthcare, and manufacturing.
“It was a diverse basket of products…regardless of which sector but a company will always have the potential to export if their product is good, and this was what we were able to do during the event,” he said.
He said initiatives like Rowad Qatar 2021, otherwise known as ‘Qatar Entrepreneurship Conference’, aims to help the local economy and Qatar’s private sector through workshops and top-notch speakers who will discuss topics revolving around this year’s theme ‘Digital Transformation & Thriving in the New Economy’.
“Digital transformation is a key to make sure that businesses would transition easily from something tactical and physical prior to the pandemic to efficient and agile operations moving forward.
“This includes adopting robotics and technology within their operations and AI solutions in data gathering, among others. The idea is to expand their knowledge on these innovative techniques to prepare them for similar incidents like Covid-19 and help them manage the impact of any new crisis,” he said.
