Qatar Development Bank, KAHRAMAA sign MoU to support local firms

Ahead of the third upcoming edition of the widely appreciated `Buy Local Products’ exhibition, Qatar Development Bank (QDB) and Qatar General Electricity & Water Corporation (KAHRAMAA) signed an MoU expressing their commitment to lend special support to local companies in Qatar.

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The MoU establishes cooperation between QDB and KAHRAMAA based on their mutual ambition to improve the capabilities and competencies of Qatari companies.

Integral components of the support the two partners will extend includes guiding local businesses through the technical requirements involved in qualifying for tenders and operations for KAHRAMAA as well as supporting their participation at promotional exhibitions and forums.

QDB CEO Abdulaziz bin Nasser Al Khalifa said: “We are deeply delighted to partner with KAHRAMAA in the service of our nation’s local business community, our SME ecosystem and our economic sustainability. Now more than ever, the responsibility of upholding our national economic independence is a binding duty on every single individual and organization in Qatar.”

He added: “While we have always endeavoured to build the capacity of our local companies, we decided to orchestrate an event that truly answered to the need of the hour with ‘Buy Local Products’. Today, the launch of its third edition comes due to the widespread popularity that the concept of promoting local manufacturers from a diverse range of industries received given the recent changes in trade climate.”

He said: “Qatar-based organisations needed alternate supply solutions and this exhibition series helped satisfy their demands. We are determined to see our upcoming edition of the ‘Buy Local Products’ expo series achieve even greater successes than the past two popularly-received exhibitions.”

Local suppliers

KAHRAMAA will prioritise contracting local suppliers nominated by QDB that successfully demonstrate their compatibility with KAHRAMAA’s qualifications, terms and regulations. In case a local SME struggles to comply with KAHRAMAA’s criteria, both partners will cooperate to educate the concerned local company on the best approaches to addressing the general gaps in their qualification.”

KAHRAMAA president  Essa bin Hilal Al Kuwari said: “By sifting through a list of recommended suppliers from QDB, all of whom have demonstrated accordance with the technical qualifications and regulations set by KAHRAMAA, we hope to give leverage to our nation’s qualified businesses in open tenders and bids, when and where there is no conflict over the quality of products and services being redeemed.”

 

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