The State of Qatar is definitely giving 2019 a run for its money as early as the last week of January as it was recently named the new leader in the global report on business index conducted by the Global Entrepreneurship Monitor (GEM)—the world's foremost study of entrepreneurship.
The announcement was made by the Qatar Development Bank (QDB) thru their Instagram page:
"We are pleased to announce that the state of Qatar, represented by us (Qatar Development Bank), has received the first place in the index of the global report on business, and we dedicate this achievement to the government."
The findings are based on last year's Global Entrepreneurship Index (GEI) where Qatar is in 1st place in the GCC region and came as a result of a public opinion poll that included international experts in various fields on all indicators and detailed elements that affect the reality and future of this sector in the country, in which 54 countries worldwide took part.
Qatar Development Bank (QDB) also participates in this global report as a representative of the State of Qatar. The bank compiles and analyses the country’s entrepreneurship data, which is consistent with the Bank’s efforts to monitor the development of small and medium enterprises and entrepreneurship in the country, which helps to identify the challenges of local entrepreneurship and the level of development from year to year.
A recent study by QDB showed that Qatar scored 55 and ranked 22nd in the GEI, besting the UAE (score: 53, rank: 26th), Oman (47, 33rd), Bahrain (45, 35th), Kuwait (43, 39th), and Saudi Arabia (40, 45th), and is capable of offering a “strong entrepreneurship ecosystem”.
QDB has granted 417 services to Qatari entrepreneurs and small and medium-sized enterprises (SMEs) last year (2018). They've successfully qualified more than 1,000 entrepreneurs and launched more than 500 local companies to reach international markets.
This assessment reflects the efforts exerted by the State of Qatar through its various institutions. Qatar has witnessed remarkable efforts over the last two years even after the blockade.
The GEM Report is an independent report that identifies the realities of entrepreneurship in various countries around the world in line with global best practice and sets the results for government and decision-makers to develop the entrepreneurial environment in each country.
To know more about the Qatar Development Bank, check out their website and social media links below!
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