The Qatar Development Bank hosted the third edition of its intensive 5-day industrial training program. The program brought together 20 entrepreneurs, who learned effective strategies for establishing and managing manufacturing projects in Qatar. These sessions presented attendees with a step-by-step approach for setting up viable and competitive manufacturing businesses in the country.
Mr. Abdul Aziz Bin Nasser Al Khalifa, CEO of QDB, said: “At QDB, we believe that our role does not stop simply at financing. Instead, we feel that our responsibility includes serving as mentors for our local business community. We are proud to host this training program for the third time, as we strive to develop knowledge transfer and foster organic growth across Qatar, while fostering entrepreneurial growth across the country in line with the 2030 vision.”
Prior to hosting the training which was conducted in collaboration with Enterprise Qatar, Social Development Center, Eversheds and Moore Stephens as well as Various experts and trainers from GOIC; Qatar Development Bank experts assessed each participant’s business ideas. Training facilitators showed how entrepreneurs can accurately identify and assess potential business opportunities by carrying a comprehensive evaluation of their relevant industrial macro-environment. The third day of the training familiarized participants with key aspects and procedures necessary to make their proposal a success, including: industrial opportunities in Qatar, commercial representation, resources and contacts, employment laws, credit and bankability as well as the contractual agreement.
“This is the third edition of the program,” Mr. Al Khalifa added, “and we were pleased to see a major content upgrade and an increase in the total number of participants as well as the partnerships with the working institutions in the country. The program dedicated for Qatar’s provides useful knowledge for launching industrial projects and for local entrepreneurs to be familiar with all the potential requirements, opportunities and the risks when launching a major industrial project.”
Participants were also presented with methods of production schedule, planning and control, materials requirement, capacity, shop floor and inventory control, product costing and pricing, and feasibility studies. Day 4 comprised presentations on production management which includes product manufacturing process, plant layout, procurement of the necessary equipment and tools, plant engineering and maintenance, and production programming.
The last two days of the training program looked closely into the model of the manufacturing process where QDB experts gave practical tips for developing and managing a manufacturing small and medium size enterprise and the requisites for registration. Attendees were provided with an overview of QDB’s indirect loan facility, Al Dhameen, project finance and the Qatar Business Incubator, a joint initiative between the bank and the Social Development Centre, in addition to QDB’s online advisory service, the SME Toolkit, as smart solutions to jump-start a business venture.
QDB concluded the 5-day program by charting schedules for participants to avail of customized mentoring and counseling sessions.
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