(MENAFN- The Peninsula) The Peninsula
Qatar Development Bank (QDB) yesterday signed its latest memorandum of understanding (MoU) with Merraas Real Estate. The instrument prompts the signatories to draw upon their respective areas of subject expertise and harness together, where applicable, their resources in the interest of bolstering the small and medium-sized enterprise (SME) ecosystem in Qatar.
In a ceremony attended by top-ranking officials of all parties, the MoU was signed between Executive Director for Advisory Services, QDB, Ibrahim Abdulaziz Al Mannai, and Chairman, Merraas Real Estate, Mana Ibrahim Al Mana. Also in attendance at Al Mirqab Mall, the venue for the signing, were members of the larger business community, public guests and media personnel.
The new agreement outlines common objectives of all signatories to exchange professional expertise, experience and skills in the fields of organisational management as well as to jointly offer office space and business venues for SMEs within a larger framework for incubation support.
Speaking during the signing ceremony, Executive Director for Advisory Services, QDB, Ibrahim Abdulaziz Al Mannai said: 'Qatar Development Bank is a firm believer in collaborating with Qatari companies to achieve the common goal of enhancing our national economic independence and building up Qatari cadres that will lead this market's future. The MoU signed with Merraas Real Estate today is in line with the July directives of His Highness the Emir Sheikh Tamim bin Hamad Al Thani to raise the scales of nationwide cooperation in order to strengthen the economy in Qatar.
As an integral part of this MoU, signing parties QDB and Merraas Real Estate have undertaken to collaboratively identify, propose, plan and execute a series of joint projects.
This collaboration is anticipated to enhance the knowledge base and overall talent of staff members on both sides as well as ultimately yield benefit for end-users, particularly SMEs, with whom these organisations interact. While QDB will specialise in training that will enhance the professional capacity of SMEs, Merraas Real Estate will support them with their extensive knowledge of the local market.
Chairman, Merraas Real Estate, Mana Ibrahim Al Mana said, 'Be it financing or market knowledge, acquiring the appropriate brand of support is always a matter of concern for SMEs. The changes in trading climate that we are presently experiencing have only served to double our resolve to support our own people and create new opportunities for one another. With the encouragement and boundless support of our government, we are proud to serve as a pillar of support to our economy. In the days to come, we will continue to bolster our levels of self-sufficiency by supporting entrepreneurs that wish to seize the unique opportunity presented to us in Qatar during recent times. The announcement of our cooperation with Qatar Development Bank is one step of many more to come in that direction.
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