Small and medium-sized enterprises (SMEs) in Qatar have secured QR700 million ($192.25 million) worth of public procurement opportunities in 2017 through Qatar Development Bank’s ‘Moushtarayat’ initiative, said a report.
The initiative provides local SMEs access to large government projects, Qatar Development Bank’s CEO Abdulaziz bin Nasser Al Khalifa was quoted as saying in a Gulf Times report.
Al Khalifa, who spoke at the Dean’s Lecture Series of Carnegie Mellon University in Qatar, said that almost 97 per cent of Qatar’s 25,000 private sector establishments are SMEs.
He added that the role that played in order to enhance the participation of SMEs in the country’s economy is of immense importance in ensuring the further diversification of Qatar’s economy.
During his presentation, Al Khalifa noted that the value of public procurement opportunities awarded to Qatar SMEs in 2017 more than doubled, compared to those in the previous year.
The official said that in 2016, Qatar Development Bank, through Moushtarayat initiative, displayed 450 procurement opportunities worth QR3 billion ($823.9 million), but only managed to secure QR300 million ($82.39 million) for SMEs.
Al Khalifa said that in 2017, the initiative displayed around 2,000 opportunities worth QR2.5 billion ($686.62 million) and we managed to have QR700 million ($192.25 million) worth of projects awarded to SMEs.
‘Moushtarayat’ aims to open new opportunities for the interaction between local SMEs and stakeholders, in addition to strengthening co-operation between the private and public sector companies in Qatar.
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