QDB continues its efforts to bolster the private sector and achieve economic diversification, aiming for a self-sufficient circular economy. One of QDB's key initiatives in this endeavor is the "SME Directory" which aims to connect manufacturing Qatari small and medium enterprises (SMEs) with local buyers to support the localization of supply chains. QDB has recently expanded the directory to include service sector companies in addition to manufacturing sector, thereby contributing positively to supporting the national economy.
The directory now includes over 399 service sector companies alongside the 556 manufacturing companies already listed. Supporting the service sector is crucial as it plays a vital role in enhancing the competitiveness of Qatari companies both locally and internationally. The service sector serves as a key driver of innovation and significantly improves the quality of life and services provided to the community. By supporting companies in this sector, QDB seeks to achieve balanced development across all economic sectors, which positively impacts the national economy as a whole.
QDB views the support of local companies as a fundamental step towards realizing a circular economy. This support helps reduce reliance on imports, increases local employment opportunities, and enhances economic sustainability. The directory plays a pivotal role in improving the efficiency of local business operations by providing comprehensive information about Qatari companies and their products and services.
Mr. Abdulrahman Heshem Al-Sowaidi, QDB’s CEO, emphasized the importance of this directory in the national entrepreneurship ecosystem. He stated, "Our initiatives in localizing businesses and accelerating their growth in collaboration with the relevant authorities, are integral to the Third Qatar National Development strategy, which focuses on empowering the private sector and SMEs with the tools necessary for their growth. And providing financing at competitive profit rates serves the purpose of localizing supply chains and urging local companies to localize their procurements for strengthening the collaborations between national supply chains, which complements the efforts aimed at increasing the competitiveness and sustainability of the private sector. The SME Directory is part of these efforts, serving as a key reference for localizing supply chains by facilitating access to Qatari companies and introducing them and their services and products to buyers. Additionally, the SME Directory highlights the availability of local raw materials, emphasizes the interconnectedness of domestic industries, and ultimately promotes a shift from imports to locally sourced products.”
The SME Directory serves as a unified platform that makes it easier for local buyers to access Qatari-made products. This enables Qatari companies to generate new business and expand into international markets, enhancing their competitiveness in terms of quality and cost. In addition, QDB offers competitive financing to local companies to purchase national products of raw materials and services at a profit rate not exceeding 2.5% in order to stimulate the localization of supply chains. All companies can also use the SME Directory to explore the products and services provided locally.
QDB, in cooperation with the Ministry of Finance and the Ministry of Commerce and Industry, has made significant progress in supporting the localization of SME businesses by launching several initiatives such as the 2024 Government Procurement Forum and bilateral meetings, and increasing the number of beneficiaries of the bank’s financing and advisory services and capacity development and incubation programs. The value of deals achieved by Qatari companies through localization initiatives amounted to more than 500 million Qatari riyals.
Supporting SMEs is part of QDB's comprehensive strategy to enhance the competitiveness of the Qatari economy and achieve sustainable development. This strategy includes multiple initiatives, such as providing financing, capacity building, and market expansion, making QDB a key partner in achieving Qatar National Vision 2030.
For registration in the SME Directory, SMEs can email BLS@qdb.qa