QDB, Nakilat sign MoU to support SMEs in Qatar

Qatar Gas Transport Company Limited (Nakilat) and Qatar Development Bank (QDB) have signed an agreement of collaboration to support local small and medium enterprises

QDB and Nakilat officials at the signing ceremony. [Image Courtesy: The Peninsula Qatar]
QDB and Nakilat officials at the signing ceremony. [Image Courtesy: The Peninsula Qatar]

An agreement of collaboration has been signed between Nakilat and Qatar Development Bank (QDB), specific to supporting local small and medium enterprises (SMEs).

The memorandum of understanding (MoU) agrees to cooperate in areas including marine export credit insurance, and financing.

Nakilat, the transport wing of Qatar's liquefied natural gas (LNG) industry, has the world's largest fleet of LNG ships, while QDB's Tasdeer programme offers financial solutions and guidance to Qatari businesses that export internationally.

The MoU was signed by Abdullah Al Sulaiti, managing director of Nakilat, and Abdulaziz Nasser Al Khalifa, CEO of QDB .

Al Sulaiti commented: "In signing this agreement, we acknowledge our position as the lynchpin in the State of Qatar's marine industry, and we reaffirm our commitment to the growth and development of the sector.

"By working together, we will provide solutions and services in the maritime industry, which consequently aids in strengthening the role of the Erhama bin Jaber Al Jalahma shipyard.

"As a result, we will be able to offer competitive products for the maritime industry. In addition, we have future projects that will in turn contribute to the achievement of Qatar National Vision 2030," Al Sulaiti added. 

QDB offers services to Nakilat and its affiliates – Nakilat Damen Shipyards Qatar, Nakilat Keppel Offshore and Marine (N-KOM) – which have a demand for marine export credit insurance, financing, and foreign buyers' and importers financing.

Small and medium enterprises (SMEs) will be the main focus of the MoU, in which QDB and Nakilat agreed to jointly encourage entrepreneurs to establish new Qatari companies that specialise in marine and shipyard-related industries.

The signing is about opening doors for local SMEs to supply contracts for Nakilat and its affiliate businesses in Qatar.

Abdulaziz bin Nasser Al Khalifa, CEO of QDB said: "QDB is a devoted advocate for SMEs in Qatar...We have provided a number of opportunities to SMEs to be part of a vibrant and diversified economy.

"Our signing with Nakilat comes in line with our strategy to encourage entrepreneurs to enter the field of maritime industry, and provide them with the services they need."

QDB agreed to introduce opportunities for SMEs, and to provide advice and guidance and financing for entrepreneurs to make them certified providers in the maritime industry.

Most popular


Deadline approaches for CW Oman Awards 2020 in Muscat
You have until 20 January to submit your nominations for the ninth edition of the


CW In Focus | Inside the Leaders in KSA Awards 2019 in Riyadh
Meet the winners in all 10 categories and learn more about Vision 2030 in this
CW In Focus | Leaders in Construction Summit UAE 2019
A roundup of Construction Week's annual summit that was held in Dubai this September

Latest Issue

Construction Week - Issue 765
Jun 29, 2020