Qatar Chamber, Qatar Development Bank and Qatar University Launch Initiative for Young Entrepreneurs

Doha, Qatar Chamber, Qatar University and Qatar Development Bank launched today an initiative supporting business entrepreneurs entitled " Ma'an" (Together).

The initiative aims to promote the role of a knowledge-based economy by investing in the ideas of youth and raising a new generation of young entrepreneurs capable of making a contribution to sustainable development. Qatar Chamber will provide financial and logistical support to the initiative. Qatar Development Bank will also provide financial support, along with consultancy as well. Qatar University will be in charge of the technical side of the initiative.

The three sides held a press conference today to discuss the initiative. Chairman of Ma'an's board of trustees Abdul Rahman Abdul Jaleel AbdulGhani, who is a member of Qatar Chamber, said that the initiative was founded initially by the Qatari private sector and is non-profit. He said that Ma'an reflected the commitment of the three participating organizations to supporting all new and innovative ideas and developing the abilities of entrepreneurs so they can contribute to realizing the goals of Qatar National Vision 2030.

He added that members of Qatar Chamber will provide financial support when needed. They will also work on offering their experience in establishing companies with young entrepreneurs who will take part in the initiative, AbdulGhani added.

Ma'an will look to provide training, along with financial and technical backing, studies to highly-skilled Qatari students whether they are members of Qatar University or other universities. The initiative will also contribute to marketing innovative projects and enhance the ties between Qatar University and the private sector.

President of Qatar University Dr Hassan Al Derham said for his part that said that Ma'an was a true reflection of cooperation between educational institutions and financial ones in realizing sustainable development in accordance with Qatar National Vision 2030. He highlighted that the role of Qatar University was to focus on human development and supply businesses and governmental institutions with their labor-market needs. Al Derham praised the role of Qatar Chamber in the development of the Qatari economy and defending the rights of the private sector. He also praised Qatar Development Bank in their efforts of encouraging entrepreneurship.

For his part, Chief Executive Officer of Qatar Development Bank Abdulaziz bin Nasser Al Khalifa expressed his appreciation to the efforts of both Qatar Chamber and Qatar University. He also praised them for their cooperation and keenness to support innovative ideas and develop the Small and Medium Enterprises. He expressed his hope that Ma'an will open up new doors for young entrepreneurs, who in turn can end up making a contribution to sustainable development.

He stressed that the private sector and entrepreneurs have become an important part of the national economy thanks to years of cooperation. On the bank's role in supporting entrepreneurs, he said that Qatar Development Bank was working on developing the necessary policies that empower entrepreneurs. The bank was also working on developing the technical, financial and legislative environment to bring them on par with the modern international standards, Al Khalifa added.

The CEO of Qatar Development Bank noted that Qatar's successful economic policies, which aims to diversify the country's sources of income and limit the reliance on natural resources, has made big progress thanks in no small part to the legislative system that created a pro-investment environment.

Source: Qatar News Agency