(MENAFN- The Peninsula) As part of efforts to develop Qatar's tourism industry, Qatar Development Bank (QDB) and Qatar Tourism Authority (QTA) yesterday announced the signing of four sponsorship agreements to enable the start-up of four projects, including a luxury Dhow dining cruise company to promote tourism.
This represents a milestone in the development of the sector following the announcement in March proving QDB and QTA's commitment to enhancing the tourism industry, according to a joint statement.
The initiative is part of Qatar's effort to diversify the private sector and become a world-class tourism and hospitality hub.
Bidders whose contracts were signed yesterday will receive QTA assistance in obtaining licences, access to development and operating guidelines, visibility on the authority's websites and social media platforms, and, wherever possible, exposure at international tourism exhibitions.
They will also receive low-interest loans and extended repayment periods from QDB.
Companies were selected after technical, commercial, financial and legal evaluation of 19 tenders submitted to QDB and QTA.
The firms to receive support are Salem Al Neami and Partners, who will develop a luxury Dhow dining cruise company; Doha Bus Ltd. who will set up a 4x4 leasing and services company; Q-tickets for the development of a ticketing and mobile information centre; and Informa Tharawat, who will set up a conference and exhibition services company.
"The projects are a major step forward in QTA's efforts to develop a sustainable tourism sector and solidify Qatar's position as world-class hospitality destination with deep cultural roots," said Issa bin Mohammed Al Mohannadi, Chairman, QTA.
"QTA will support the investors by helping secure licences and offering administrative guidance to help turn their ideas into competitive and attractive companies in the growing tourism industry."
Abdulaziz bin Nasser Al Khalifa, CEO, QDB, said: "We are proud to partner and work with our colleagues at QTA to implement the private sector initiative.
"QDB's support of Qatar's National Tourism Sector Strategy 2030 is part of a wider push to support the development and diversification of the vibrant private sector in line with Qatar National Vision 2030.
"While these opportunities are a critical starting point, there are opportunities for Qatari SMEs to achieve success in tourism and other strategic sectors.
"QDB will continue to support companies in the sector until entrepreneurs and SMEs realise their desired growth and build competitive businesses. It will not only support successful bidders with financing, but with first-class advisory support and services. Their success is our success."
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