Interview: Abdulrahman Hesham Al Sowaidi, CEO, Qatar Development Bank, on empowering small and medium-sized enterprises (SMEs) to compete and thrive in international markets
How is strategy being developed to ensure long term sustainability in the Qatari market?
ABDULRAHMAN HESHAM AL SOWAIDI: The Third National Development Strategy (NDS-3) defines priorities for the economy until 2030, addressing local and global economic trends. A core focus of NDS-3 is empowering the private sector and enhancing the competitiveness and resilience of SMEs, as critical players in driving the non-hydrocarbons economy and fostering long-term growth in a dynamic international environment.
In what ways can Qatar strengthen its position as a global trade centre to benefit local SMEs?
AL SOWAIDI: Qatar’s geographical advantage – where 80% of the global population is reachable within a six hour flight – is complemented by advanced logistics infrastructure such as Hamad Port and Hamad International Airport, positioning Qatar as a global trade and commerce centre. The energy sector further bolsters the country’s industrial and manufacturing competitiveness. While increasing liquefied natural gas exports, Qatar is diversifying its energy production and pursuing decarbonisation initiatives to create sustainable growth. The country’s competitive utility costs, skilled labour force and free zone incentives – including tax exemptions for foreign-owned companies – continue to attract multinational businesses. These strengths collectively support local SMEs in tapping into global markets and fostering economic diversification.
Where are there opportunities to further enhance digital infrastructure to attract high-tech SMEs?
AL SOWAIDI: The evolution of Qatar’s digital infrastructure is driven centrally by government-led initiatives such as Qatar National Vision 2030, NDS-3 and Digital Agenda 2030. These frameworks underscore Qatar’s commitment to digital transformation, as highlighted by the prime minister’s address at Web Summit Qatar 2024. Investments in technology, innovation and artificial intelligence (AI) – including a QR9bn ($2.5bn) incentive programme focusing on emerging technologies like Arabic language AI – are accelerating progress. The success of digital transformation relies heavily on talent, and a knowledge-based economy demands skilled individuals with innovative mindsets. Qatar has recognised this, shifting its focus towards human capital development. By equipping individuals with the skills needed to innovate within emerging industries, we can create the foundations of a robust digital economy.
Which initiatives are being implemented to support the growth and internationalisation of Qatari SMEs?
AL SOWAIDI: Two major programmes undertaken by Qatar Development Bank aim to enhance SME integration into global value chains. The buyer’s credit programme offers competitive financing solutions to international buyers of Qatari products, mimicking the services of export-import banks and export credit agencies. This programme will be implemented through partnerships with local banks in key international markets. The second initiative, the Internationalisation Financing Scheme, is designed to help Qatari companies establish a commercial presence abroad. These efforts, alongside existing support mechanisms, aim to better position SMEs to compete on the international stage.
What is being done to address the challenges posed by a global push towards digitalisation?
AL SOWAIDI: The rapid advancement of technologies such as AI present challenges, particularly for SMEs with limited resources. Manufacturing SMEs can benefit from Factory One, the GCC’s first model factory. This facility combines hands-on training with advisory support, offering businesses access to real-world manufacturing processes and systems. By enhancing end-to-end productivity and operational excellence, Factory One enables manufacturing SMEs to compete globally and support the country’s economic diversification goals.
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