QDB, Al Meera sign wide-ranging MoU to help local SMEs gain exposure

Qatar Development Bank (QDB) and Al Meera Consumer Goods Company have signed an MoU to strengthen cooperation through the exchange of industrial information and personnel expertise as well as provision of support through funding to the SME sector in Qatar.

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The MoU identified a range of areas for partnership, including strengthening cooperation in the areas of exchange of information, personnel and other resources. Most notably, through the MoU, QDB aims to support emerging local startups supported by Al Meera – by extending quick-access support to them across a range of facilities, such as finance, support and advisory services.

Another key highlight of the MoU will see that the two organizations work together closely to promote products of local SMEs – supported by QDB – across Al Meera outlets regionally. This cooperation is engineered to help local brands achieve exposure to global marketplaces, so that they may achieve higher scales of competitiveness.

QDB business localization support manager Bader Al Kuwari said: “With the signing of the MoU, QDB has successfully engineered yet another initiative that seeks to facilitate the promotion of local entrepreneurs and the Qatari private sector across the globe.”

He added: “Through this agreement, we will work together to provide a wide range of assistive services to local SMEs in their production of exportable goods and collaborate to promote their final products globally, so that they may sharpen their competitive edge and grow as entrepreneurs.”

Supporting entrepreneurship

Al Meera supermarket

Al Meera Consumer Goods Company vice-chairman Dr Saif Said Al -Sowaidi said: “By supporting entrepreneurship and nurturing Qatari startups in the grocery and consumer goods niche through the first-of-its-kind incubation and support service in Qatar, Al Meera and QDB are effectively contributing to the realization of the objectives of the 2017-2022 National Development Strategy and Qatar National Vision 2030.”

The agreement also included a scope for the increase in stocking of Qatari products across shelves and coverage of trade promotion programs by Al Meera. Furthermore, through the signing, a program will be created whereby SMEs, to be incubated at a special section of Al Meera, will benefit from developmental facilities and assistance services.

The MoU particularly encourages joint activities between the two signatories that would promote sales of local products through attracting a higher volume of interested buyers and distributors.

 

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