QDB organizes second edition of the `Buy Local Products’ exhibition

Motivated by the Emir’s latest address to the nation, Qatar Development Bank (QDB) organized the second edition of the `Buy Local Products’ exhibition in its renewed drive to support the development of indigenous industries, empower the local private sector and diversify the economy.

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The `Buy Local Products’ exhibition series is designed to give a merchantable platform to native SMEs so they may showcase their products and complement the nation’s renewed objective of localizing the supply chain and increasing self-reliance.

Following the success of the first edition, which witnessed the participation of 70 local companies from across various sectors, the second edition was launched to further support local industries through facilitating local procurement, especially for the industrial sector.

The second exhibition saw the participation of more than 150 companies as well as an even wider range of products on showcase than the first edition.

Display items

The exhibition saw the following items on display: general building materials, plastics, aluminum and copper, steel and  iron, wood, paper, glass products, detergents, information technology and equipment and marine sector services.

To facilitate ad lib business transactions, the exhibition venue came equipped with different B2B meeting halls that could be used by local suppliers and buyers to ink bilateral agreements and partnerships.

QDB CEO Abdulaziz bin Nasser Al Khalifa said: “The purpose of this 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.”

He added: “Qatari products have demonstrated a strong promise in the local market by helping to meet nearly all the needs of our nation’s consumers. Through strengthening the ability of Qatari suppliers to fulfill local demand, on the one hand and matching local buyers with local suppliers, on the other, we holistically strengthen the interplay of our market actors and achieve new scales of competitiveness.”

Al Khalifa said: “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 endeavor, we have met much success.”

MoU signing

An MoU was signed between QDB and Public Works Authority (Ashghal’)to launch the `Taaheel’ program for SMEs. A key angle of the agreement will see QDB and Ashghal cooperate to support SMEs financially and technically.

The cooperation will include Ashghal restructuring procurement regulations to prioritize vendor opportunities for local SMEs, while QDB, for its part, will focus on capability development of these SMEs and conduct regular meetings to monitor the performance of these companies.

 

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