Doha: Qatar Development Bank (QDB) organized the second edition of the "Buy Local Products" exhibition to support the development of indigenous industries, empower the local private sector and diversify the economy.
Following the success of the first edition of "Buy Local Products," which witnessed the participation of 70 local companies from across various sectors, the second edition was launched to further support local industries through facilitating local procurement, especially for the industrial sector.
The second exhibition, which opened on Tuesday at the Al Dafna Hall of the Sheraton Grand Doha Resort & Convention Hotel, saw the participation of more than 150 companies as well as an even wider range of products on showcase than the first edition. The exhibition concludes on Wednesday.
The second "Buy Local Products" exhibition saw the following items on display: general building materials, plastics, aluminum and copper, steel and iron, wood, paper, glass products, detergents, information technology (IT) and equipment and marine sector services.
Commenting on the launch of the second edition of the exhibition, Chief Executive Officer (CEO) of QDB, Abdulaziz bin Nasser Al Khalifa said, "Over the course of time, our team, at QDB, has developed core services and initiatives aimed at accelerating the development of Qatar's private sector, particularly the industrial sector. Today's launch of the second edition of the Buy Local Products' exhibitions is yet another step in the same direction and the purpose of this event serves to augment our ongoing efforts to achieve self-sufficiency in the local market. By strengthening the ability of national suppliers to meet domestic demand and linking local buyers and suppliers with each other, we seek to promote the microeconomics of a self-sustaining economy."
Al Khalifa added, "The Emir H H Sheikh Tamim bin Hamad Al-Thani, in his speech, laid unparalleled emphasis on the economic independence for our country. And for us to maintain our economic sovereignty, our industries and industry-owners need to continue to play their respective critical roles. Qatari products have demonstrated a strong promise in the local market by helping to meet nearly all the needs of our nation's consumers. Through strengthening the ability of Qatari suppliers to fulfill local demand, on the one hand, and matching local buyers with local suppliers, on the other, we holistically strengthen the interplay of our market actors and achieve new scales of competitiveness.
"At present, one of our key priorities is ensuring that the Qatari wholesale suppliers, who may no longer order their merchandise from their traditional sources, are matched with new providers. This effort ensures that their business may continue to operate as normal and I am delighted to share with you that in this endeavor, we have met much success."
To facilitate business transactions, the exhibition venue came equipped with different business-to-business (B2B) meeting halls that could be used by local suppliers and buyers to ink bilateral agreements and partnerships.
This month, the launch of the editions of "Buy Local Products" exhibitions come as the latest in a string of initiatives aimed at promoting a localized supply chain. In the past, in its effort to support a diverse range of local suppliers, QDB has developed numerous programs that support the agriculture and farming industry in Qatar.
Recurring schemes, such as the eco-friendly Jahiz 1 and Jahiz 2 initiatives, also empower local suppliers that operate across a diverse range of industries, including: chemicals, electronics, plastics, wood materials as well as food and beverage.
Earlier this year, in partnership with the Ministry of Finance, QDB launched the second Government Procurement and Contracting Conference and Exhibition "Moushtarayat 2017," which sought primarily to localize the supply chain by connect large public-sector organizations with firms operating in the local private sector. Similarly, QDB cooperated with Qatar Chamber to launch the "Made at Home" exhibition, which was designed to strengthen home-based business industry in Qatar.
QDB's Al Dhameen service proves critically important in the service of entrepreneurs because these indirect loan facilities are viable by both existing companies as well as completely new startups. The purpose of these initiatives is to strengthen the non-oil and gas product manufacturers in the private sector. Through its Tasdeer export program, QDB aims to strengthen the presence of Qatari companies on prestigious global platforms, linking Qatari specialists to international experts across the world's production industries.
