Tenders submission still open for SMEs to invest in tourism sector
The tender submission is still open for the Qatar Tourism Investment Opportunities initiative launched by Qatar Development Bank (QDB) and Qatar Tourism Authority (QTA) last month.
The initiative is aimed at promoting the six business opportunities including the following: Luxury Dhow Dining Cruise, Luxury Coach, 4×4 Leasing Company, MICE and Events DMC, Ticketing and Mobile Information Centers, SME Cottage Markets.
More information regarding the six opportunities is available on QDB and QTA websites.
Mr. Abdulaziz bin Nasser Al Khalifa, CEO of QDB, said, “We invite the private sector to take part in these opportunities we are offering in collaboration with QTA. These opportunities have been identified after studying the existing gaps in the tourism market and work to turn them into investment opportunities.” “This initiative comes within QDB’s objective to contribute directly to the growth and diversification of Qatar’s private sector by offering an integrated array of financial and non-financial products and services which assure sustainable and success projects,” Al Khalifa added.
From his part, Mr. Issa Al Muhanadi, QTA’s Chairman, said, “We are proud to partner with QDB, one of the most important financial institutions operating in Qatar, and this partnership is a great example of cooperation between the private and public sectors. The initiative falls is line with Qatar National Tourism Sector Strategy 2030 which plays a vital role in facilitating the objective we set out to reach of a sustainable tourism sector to position Qatar as a favourite tourist destination regionally and internationally. Al Muhanadi added, “These projects within the current initiative are a great opportunity for developers, operators and investors in the tourism sector to be part of Qatar’s rapid economic expansion.”
QDB will offer qualified companies loans with low interest rates and long term financing, in addition to support from QTA in obtaining needed licenses, priority in participation in activities organized by QTA and enhance their presence through QTA’s website and social media platforms. Additionally, it is worth mentioning that tourism has been identified as a priority sector by the Qatari government and accordingly QTA is anticipating the tourism sector to account for 3.1% of the GDP by 2030.
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