Qatar Development Bank recently concluded its fourth edition of its intensive 4-day industrial training program which ran between 23-26 March. The program brought together about 20 entrepreneurs, who learned effective strategies for establishing and managing manufacturing projects in Qatar. The sessions presented attendees with a step-by-step approach for setting up viable and competitive manufacturing businesses in the country.
The program is dedicated to Qatar’s entrepreneurs and provides useful knowledge for launching industrial projects and to familiarize all the potential requirements, opportunities and the risks when launching a major industrial project.
Mr. Abdul Aziz Bin Nasser Al Khalifa, CEO of QDB, said: “At QDB, we believe that our role does not only stop at financing; rather we feel it is our responsibility to advise entrepreneurs at each stage of their growth by providing mentoring, intelligence and skills needed to build and manage their businesses.”
“We are proud to host this training program for the fourth time, as we strive to develop knowledge transfer and nurture organic growth across Qatar, while fostering entrepreneurial growth across the country in line with the 2030 vision,” Al Khalifa added.
Prior to hosting the training which was conducted in collaboration with, Social Development Center (SDC), Gulf Organization for Industrial Consulting (GOIC), Eversheds, Enterprise Qatar, Jadwa Program and Qatar Business Incubation Centre; Training facilitators showed how entrepreneurs can accurately identify and assess potential business opportunities by carrying a comprehensive evaluation of their relevant industrial macro-environment. In addition, the training familiarized participants with key aspects and procedures necessary to make their proposal a success, including: selecting industrial opportunities in Qatar, legality issues, technical analysis, selection of technology provider and several services provided by Qatar to support the entrepreneurs such as services provided by Private Sector Qatar
Participants were also presented with methods of production schedule, business planning and control, materials requirement, capacity, shop floor and inventory control, product costing and pricing, feasibility studies, market constraints and demand analysis. In addition, the presentations compromised of production management including product manufacturing process, plant layout, procurement of the necessary equipment and tools, plant engineering and maintenance and production programming.
The training program looked closely into the model of the manufacturing process where the experts gave practical tips for assessing the selection of technology the total investment and production costs, financial analysis for industrial projects and 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, Direct Finance and the Qatar Business Incubation Centre; a joint initiative between QDB and SDC, in addition to the SME Toolkit, as smart solutions to jump-start and grow a business venture in Qatar.
QDB concluded the 4-day program by charting schedules for participants to avail of customized mentoring and counseling sessions.
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