At least five small and medium-sized enterprises are expected to be listed on the Qatar Stock Exchange this year, according to a senior official at the QSE, which is collaborating with Qatar Development Bank (QDB) for the potential listing of more SMEs in the country.
“The exchange will look to work with QDB and their award-winning SMEs in preparing them for further growth and, in time, to assist them in their strategic plans through a potential listing on QSE.
“Both organisations recognise SMEs’ contribution to economic growth and employment, and look forward to further cooperation in the future,” said QSE CEO Rashid bin Ali al-Mansoori during a press conference yesterday announcing the launch of the second edition of the ‘SME Excellence List 2018’.
Al-Mansoori also lauded the collaboration between the QSE, QDB, and private sector leader Qatar Chamber in supporting the development of SMEs in the country.
“In fact, we had deepened our co-ordination by signing of a memorandum of understanding at the recently held ‘Made in Qatar’ exhibition, and we will continue to seek ways to work together.
“We share QDB’s vision of fostering a culture of transparency and competition in the economic system encapsulated by the work they do in helping SMEs unlock their potential, adopt the highest quality of standards, and follow best international practice, all of which assist in the local, regional, and global development of Qatar’s SME sector,” al-Mansoori said.
The SME Excellence List ranking programme serves as an important incubator for SMEs, allowing them to showcase their products and services and contribute to the success of their businesses. The programme also honours SMEs categorised and ranked by their performance and abilities to develop and grow.
Registration for the SME Excellence List 2018 started yesterday and will run until March 31. The awards ceremony for the 50 winning SMEs will be held on November 14.
QDB CEO Abdulaziz bin Nasser al-Khalifa said the ‘SME Excellence List’ is part of the bank’s ongoing efforts to diversify Qatar’s economy, which would contribute to the success of the Qatar National Vision 2030.
“All young and aspiring entrepreneurs running small and medium-sized businesses are invited to vigorously participate in this programme and take advantage of the initial assessments that will help them identify and address the weaknesses their businesses face. This will help increase their chances to be among this year’s winners and profit from the benefits offered.
“Through the programme, we aim to provide all kinds of support to SMEs by encouraging young entrepreneurs to develop their performances, services, and products,” al-Khalifa said.
Qatar Chamber director general Saleh bin Hamad al-Sharqi added: “This definitely serves as a platform for distinctive enterprises to access numerous world markets. The main objective of the award is to stimulate SMEs to develop their performance and to continue focusing on innovation in all aspects of their work so they may compete locally, regionally, and globally.”
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