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Posted On: 11 February 2009 09:51 am
Updated On: 12 November 2020 02:09 pm

QR2bn support package for small industries

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Qatar will soon launch programmes to boost the small and medium enterprises (SMEs) here according to H E Sheikh Fahad bin Jassim bin Mohammed Al Thani, Minister of Business and Trade. “The government will allocate two billion riyals to support SMEs,” Sheikh Fahad said inaugurating a Corporate Ambassadors Event under the theme SMEs: Engines to Economic Growth. “The programme will stress to support initiatives of the youth in the country as they occupy 50 percent of the population. The programme will be launched by the beginning of next year,” he said. “SMEs help in economic prosperity. Qatar is planning the comprehensive programme to support SME in order to help them to operate in competitive atmosphere along with major projects here,” he said. The initiative aims to diversify natural economy and its role in promoting the private sector in Economical and social development. It will also help in enhancing the employment opportunity. The initiative will include financial and technological support during the various phases of development. Various subsidies will be provided for SMEs till it reaches a profitable level. “The project will also encourage business initiatives of women in the country. The notable growth which was achieved in the last decade has helped to create a suitable atmosphere for SME development. The huge oil and gas industries promises subsidiary works for the SMEs,” he said. The Corporate Ambassadors programme is organised by the Qatar Businesswomen Forum in association with the MENA Businesswomen’s Network, Vital Voices Global Partnership and the Middle East Partnership Initiative of the US Department of State. The programme is being held for the first time in Qatar and includes workshops, panel discussions, one-to-one meetings and a study tour. Professional consultants will offer their opinions and share experience at the event. The aim of the event is to promote SMEs.