Q Life Magazine Q Magazine December 2017 | Page 64
| Issue 3
Qatar
Development Bank
Developing a Successful
Economy
In its twentieth anniversary year,
Qatar Development Bank (QDB)
embodies many of the goals of
QNV 2030, empowering Qatar’s
private sector entrepreneurs and
SMEs to play a greater role in the
country’s dazzling economic growth. These successful SMEs, able to both
thrive locally and compete in global
markets, will stimulate a vibrant,
robust, and diversified private
sector. They will contribute to an
integrated, sustainable, knowledge-
based economy.
QDB has worked with and inspired
thousands of Qatari entrepreneurs
and enterprises, providing
investment and guidance to brand-
new start-ups and well-established
corporations. Its aim is
to accelerate the growth and
economic diversification of Qatar’s
private sector. Growing with the economy
Initially focused on strengthening
Qatar’s manufacturing sector,
QDB’s mandate has rapidly
expanded. As a reflection of its past
and potential success, in 2008, the
bank’s authorised working capital
was increased from QAR 200
million to QAR 10 billion.
The bank’s focus is on growing
SMEs in key sectors by offering a
wide range of financial and advisory
support services under one roof. To more effectively support Qatar’s
development, QDB has segmented
its private sector backing in line
with the eight industries that are
most vital for Qatar’s diversification:
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manufacturing, healthcare,
education, tourism, agriculture,
livestock, fishing, and services.
In 2014, QDB established the Qatar
Business Incubation Centre (QBIC)
in a joint venture with the Social
Development Center in 2010. As
one of the largest incubator facilities
in the Middle East, it supports and
finances innovative start-ups.
In late 2017, QDB will launch the
very first Rowad Qatar – National
Entrepreneurship Award &
Conference. It aims to stimulate the
private sector by recognising SMEs
in five distinct categories: Best Micro
Business, Best Export Business, Best
Start-up Business, Best Scale-up
Business, and Entrepreneurship
Award to Support Self-sufficiency in
the Local Market.