Doha, February 20, 2019 – Al Khalij Commercial Bank (al khaliji) P.Q.S.C., Qatar’s next generation bank, in continuation to its strategic goal of empowering Qatari youths and enhancing the jobs market in Qatar, took part in the TAWTEEN launch event as one of the proud sponsors. Held under the patronage of His Excellency Sheikh Abdullah bin Nasser bin Khalifa Al Thani, the Prime Minister and the Minister of Interior, the event took place on February 18 and 19, 2019 at Sheraton Hotel. The program was launched amid the presence of dignitaries, the large participation of official bodies and entities, energy sector companies, and a wide spectrum of service providers and supporting industries.
Hosted by Qatar Petroleum, TAWTEEN is the localization program for services and industries in the energy sector, specifically for the small and medium enterprises base. It also aimed at creating around 100 new investment opportunities within the energy sector in order to retain economic value within the State of Qatar, which in turn is expected to add QAR 8 Billion of import substitutes annually and is also expected to create more than 5000 new white-collar jobs. Moreover, it provided valuable business opportunities for local and international entrepreneurs in Qatar, by providing technical support as part of TAWTEEN supplier development programs, and create an environment to participate in the sector’s supply chain and generate high-quality job opportunities.
One of TAWTEEN’s most important aspects is introducing In-country Value (ICV) policy, which is designed to reward suppliers and contractors who execute their contracts and agreements by maximizing local content. An essential pillar of Qatar’s localization efforts, ICV will integrate into the way business is conducted, and will set forth the rules and requirements of doing business.
On the participation front, Mr. Nawaf Talfat, Head of Small & Medium Enterprises (SME), said:
“We are delighted to be a part of this futuristic event, which aims at helping develop the private sector, particularly small and medium-sized enterprises. This has been our endeavor to support the forerunners of growth in any way possible and through TAWTEEN, we got a tremendous opportunity to channelize their growth prospects in the vibrant energy sector of Qatar. By participating in this exhibition, we also wanted to reiterate our strong stance on supporting Qatar National Vision 2030. We would like to extend our gratitude to Qatar Petroleum to have given us an opportunity to become a part of this event and realize the potential benefits for Qatari SMEs through this prudent platform.”
The two-day event featured intriguing panel discussions and presentations with the leaders of Qatar’s energy sector on supplier localization initiatives. The accompanying exhibition provided suppliers and investors an opportunity for one-to-one discussions with representatives from local energy companies. The event also enabled potential suppliers and investors to seek responses of their questions and register their interest for new business opportunities within the energy sector. During the event, the Al Khaliji bank officials also got an opportunity to interact with the attendees and offered them insights into the Bank’s products & services portfolio.