HE the Minister of Finance and Chairman of Qatar Development Bank (QDB) Ali bin Ahmed al-Kuwari affirmed Qatar’s constant endeavour to support the private sector and help the entrepreneurial system reach competitive levels in various fields.
He pointed to the state’s role in the competitiveness of the Qatari products, supporting and assisting exports by opening global markets, enabling the digital transformation of emerging companies, and exploring prospects for sustainability and green transformation.
Addressing the SME Excellence Awards 2022 ceremony on Tuesday, the minister said that Qatar continues this journey of success with greater responsibility than ever before, adding that the state’s efforts at various levels have been reflected in economic indicators, with the Qatar economy maintaining positive growth rates during 2022, recording over 4% growth during the second and third quarters, supported by the growth of non-oil sectors such as transport and trade as well as manufacturing and operational industries.
HE al-Kuwari said that small and medium enterprises (SMEs) are an important component of the private sector in Qatar, accounting for over 90% of private sector establishments and a key source of employment.
He also cited their role in promoting innovation and creativity in business activities, and noted that the initiatives and programmes presented by the state for this category, including the initiatives of the QDB in co-operation with the concerned authorities, have contributed to enhancing the growth opportunities of these enterprises.
The minister went on to say that these programmes covered the basic needs of companies, including access to financing, access to markets, education, training and incubation services as well as the continuous development of the business environment.
HE al-Kuwari added that the achievements of Qatari SMEs have been reflected in a number of international reports, such as the report of the Global Monitor of Entrepreneurship 2021-2022, where Qatar ranked 14th globally in the field of early-stage entrepreneurial activity, and first in the pioneering activity of employees.
Qatar is also ranked second in the Middle East and ninth globally in the local entrepreneurship environment index.
The QDB honoured on Tuesday 50 SMEs that presented sustainable business models and contributed positively to the growth of the national economy in Qatar, during the third edition of SME Excellence Awards 2022.
The list aims to provide a platform for small and medium-sized companies to showcase their successes, honour the best performers among them, create a motivating atmosphere within the business community in Qatar, and create a culture that adopts best practices and excellence in business.
As many as 310 companies have applied for the award, representing 13 industrial and service sectors.
These companies have undergone an independent, accredited evaluation to determine the best among them.
This evaluation includes several criteria, including financial performance, sustainability, innovation, and other criteria.
HE al-Kuwari said that the entrepreneurs of the 50 companies honoured at ceremony were able to set an example of excellence and efficiency in their respective sectors by using international tools and standards ranging from digital transformation to operational excellence and environment preservation.
He highlighted the exceptional achievement by Qatar last year in hosting the FIFA World Cup Qatar 2022, and expressed his pride in the SMEs that contributed to making this achievement, whether in infrastructure, technology or other fields.
The minister expressed happiness at honouring the distinguished Qatari SMEs for the year 2022, praising their efforts, performance and contributions to the growth of the national economy and their endeavours in achieving Qatar National Vision 2030.
