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    Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

    Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

    Arab states imported 1.73 million agricultural commodities from Egypt

    Arab states imported 1.73 million agricultural commodities from Egypt

    Wheat yield boom boosts Oman’s food security

    Wheat yield boom boosts Oman’s food security

    Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

    Egypt’s agriculture exports rise 17.2 percent in 5 months

    Egypt’s agriculture exports rise 17.2 percent in 5 months

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    • Business & Economy
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      Saudi: 53 new industrial licenses issued in April 2023

      Saudi: 53 new industrial licenses issued in April 2023

      Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

      Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

      Saudi transport authority approves 15 licensing, technical guides for railways

      Saudi transport authority approves 15 licensing, technical guides for railways

      Number of industrial decisions up by 10.56% to 356 in 2021

      Number of industrial decisions up by 10.56% to 356 in 2021

      Egypt’s macroeconomic conditions improving, says minister

      Egypt’s macroeconomic conditions improving, says minister

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

      Number of BIA passengers up by 26.90% annually YTD APRIL 2023

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      • CES 2017
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      Oman’s health ministry expected to award construction contract for two health centres in Q3

      Oman’s health ministry expected to award construction contract for two health centres in Q3

      Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

      Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

      Oman releases more Sultan Haitham City details

      Oman releases more Sultan Haitham City details

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Construction activity in Saudi Arabia reaches highest level in years: Survey

      Oman gears up for its first smart city

      Oman gears up for its first smart city

      Saudi real estate ‘booming’ on big office space demand

      Saudi real estate ‘booming’ on big office space demand

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        NEOM’s green hydrogen project is formally under execution: ACWA Power

        NEOM’s green hydrogen project is formally under execution: ACWA Power

        Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

        Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

        Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

        Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Clean energy technology manufacturing market to reach $790bln by 2030: IEA

        Total-led consortium to start drilling offshore Lebanon in September

        Total-led consortium to start drilling offshore Lebanon in September

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        • Hospitality
          Qatar: Over 700 hotel keys added in Q1

          Qatar: Over 700 hotel keys added in Q1

          Jordan’s tourism income surges 88% as visitors flock to the country

          Jordan’s tourism income surges 88% as visitors flock to the country

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

          Leisure sector in Qatar stronger after World Cup 2022

          Leisure sector in Qatar stronger after World Cup 2022

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

          Saudi to be among world’s big leisure tourism hubs by 2030

          Saudi to be among world’s big leisure tourism hubs by 2030

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        • Agrofood
          • All
          • Agriculture
          • Environment
          • Food
          Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

          Saudi Arabia’s agricultural GDP grew 38% to $26.6bn in 2022

          Arab states imported 1.73 million agricultural commodities from Egypt

          Arab states imported 1.73 million agricultural commodities from Egypt

          Wheat yield boom boosts Oman’s food security

          Wheat yield boom boosts Oman’s food security

          Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

          Saudi Arabia seeks $20 bln investment in food industry, aims to double exports

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Saudi Arabia’s ambitions for food production advancement supported by ICRISAT-FAO partnership

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Egypt’s agriculture exports rise 17.2 percent in 5 months

          Trending Tags

          • Business & Economy
            • All
            • Business
            • Economy
            • Finance
            • Industry
            • Technology
            • Trade
            • Transport & Logistics
            Saudi: 53 new industrial licenses issued in April 2023

            Saudi: 53 new industrial licenses issued in April 2023

            Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

            Qatar’s non-oil sector maintains growth as PMI hits 53.8 in June

            Saudi transport authority approves 15 licensing, technical guides for railways

            Saudi transport authority approves 15 licensing, technical guides for railways

            Number of industrial decisions up by 10.56% to 356 in 2021

            Number of industrial decisions up by 10.56% to 356 in 2021

            Egypt’s macroeconomic conditions improving, says minister

            Egypt’s macroeconomic conditions improving, says minister

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Number of BIA passengers up by 26.90% annually YTD APRIL 2023

            Trending Tags

            • CES 2017
            • Election Results
            • eSports
          • Construction
            • All
            • Infrastructure
            • Real Estate
            Oman’s health ministry expected to award construction contract for two health centres in Q3

            Oman’s health ministry expected to award construction contract for two health centres in Q3

            Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

            Properties sold in May 2023 jump 114.6%, says Qatar’s PSA

            Oman releases more Sultan Haitham City details

            Oman releases more Sultan Haitham City details

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Construction activity in Saudi Arabia reaches highest level in years: Survey

            Oman gears up for its first smart city

            Oman gears up for its first smart city

            Saudi real estate ‘booming’ on big office space demand

            Saudi real estate ‘booming’ on big office space demand

            Trending Tags

            • Energy
              • All
              • Oil & Gas
              • Power & Electricity
              • Renewable Energy
              NEOM’s green hydrogen project is formally under execution: ACWA Power

              NEOM’s green hydrogen project is formally under execution: ACWA Power

              Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

              Ministry of Petroleum announces $9B investment towards oil refining and petrochemical projects

              Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

              Oman’s huge renewable hydrogen potential can bring multiple benefits in its journey to net zero emissions

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              UN-HABITAT partners with LCEC, expanding efforts to provide responsible renewable energy solutions in Lebanon

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Clean energy technology manufacturing market to reach $790bln by 2030: IEA

              Total-led consortium to start drilling offshore Lebanon in September

              Total-led consortium to start drilling offshore Lebanon in September

              Trending Tags

              • Hospitality
                Qatar: Over 700 hotel keys added in Q1

                Qatar: Over 700 hotel keys added in Q1

                Jordan’s tourism income surges 88% as visitors flock to the country

                Jordan’s tourism income surges 88% as visitors flock to the country

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Dubai’s hotel stock hits 150,000 keys as tourist influx from India, Russia, Oman buoys hospitality sector

                Leisure sector in Qatar stronger after World Cup 2022

                Leisure sector in Qatar stronger after World Cup 2022

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

                Saudi to be among world’s big leisure tourism hubs by 2030

                Saudi to be among world’s big leisure tourism hubs by 2030

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              Qatar steps up support for small businesses

              OBG

              April 28, 2016
              in Economy
              0
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              A drive to encourage entrepreneurship in Qatar is gaining pace, as efforts to streamline the start-up process yield results.

              Developing small and medium-sized enterprises (SMEs) lies at the heart of Qatar National Vision 2030, the development plan guiding the country away from its reliance on hydrocarbons and toward a knowledge-based economy.

              With the first SME programs now firmly established, experts hope to see efforts stepped up to make business education a priority at schools and colleges.

              Targeting funding
              One of the institutions playing a key role in supporting SMEs, particularly those founded by new graduates, is the Social Development Centre (SDC), which aims to promote employment opportunities and youth empowerment.

              “The main goal will be to encourage entrepreneurship among young people, so they can act as ambassadors for private sector development,” Abdulla bin Ibrahim Al Ajail, executive director of the SDC, told OBG.

              The center offers a mix of financial and technical support ranging from promotion and consulting to marketing and training at its Tanmia for Small and Medium Enterprises facility.

              The SDC is currently directing its assistance programs at small-scale, or “micro”, entrepreneurs and those between the ages of 18 and 40, as well as home-based businesses, with the center’s funding arm, Rasameel, offering interest-free loans of up to QR500,000 ($137,400) for applicants who meet its criteria.

              An at-home incubation program has also been launched, which allows microbusinesses to channel their products into local markets and souqs.
              Many of the center’s clients run microbusinesses, which usually have 15 staff or less, and a turnover of under QR10m ($2.75m). As these businesses are often family-run and are rarely capital intensive, they are traditionally seen as lower risk.

              Nurturing entrepreneurship
              Qatar Business Incubation Centre (QBIC), an initiative co-founded with Qatar Development Bank (QDB) and the SDC, supports small businesses in their early days through a two-step training program, offered twice yearly. QBIC also offers workspaces, training, marketing and follow-up guidance, with financial support from QDB.

              LeanStartup, QBIC’s initial 10-week flagship program, focuses on supporting entrepreneurs through the launch stage of their businesses and includes a “Demo Day”, where candidates are given the opportunity to pitch their ideas. Once applicants are ready to take their business to the next stage, they move to the four-day LeanScaleup program.

              According to Aysha Al Mudahka, CEO of QBIC, the business ideas put forward have been broad-based, ranging from digital solutions to tourism.

              “The variety in age and gender of applicants and the quality of their ideas has been a huge positive for broader SME development in the country,” she told OBG. “We’re well on our way to achieving the center’s mission of developing the next QR100m ($27.5m) companies in Qatar.”

              To provide a boost to start-ups in specific industries, the center has developed specialized incubators, such as QBIC Tourism, guided by Qatar Tourism Authority, and Digital and Beyond, powered by Ooredoo, which offer entrepreneurs sector-specific support and access to industry experts.

              In financing terms, QBIC also has a fund for direct incubation of applicants that reach an appropriate level of business development. Subsidized workshop space is also made available to entrepreneurs looking to develop light manufacturing businesses.

              To date, the results of the two initiatives appear promising. The SDC has financed approximately 105 projects since 2009, having been given a target of around 20 new projects a year and a funding portfolio of QR8m-9m ($2m-$2.5m). QBIC, meanwhile, has received some 1200 applications and incubated 52 start-ups since its launch in 2014.

              “We’ve invested QR1.9m ($521,798) in our successful applicants, which have in turn generated nearly QR6m ($1.65m) in revenue,” Al Mudahka said. “This is a reflection of the opportunities that exist for start-ups to generate tangible economic value.”

              Cultivating a start-up culture
              The entrepreneurial environment in Qatar has significant room for growth, though much will likely need to be done to encourage more Qataris to participate.

              The country has a relatively small number of SMEs for the region, contributing just 16% to GDP, as per regional media reports, compared to 33% in Saudi Arabia and 60% in the UAE.

              Businesses face a complex operating set-up with several organizations and programs involved in SME development. Representatives believe much would be gained by bringing players under one roof.

              “Streamlining activities is a necessity when looking at a sector of this nature, given that each organization within the ecosystem has a different focus,” the SDC’s Al Ajail told OBG.

              Education and training also has a key role to play in developing a new enterprise culture, according to Al Mudahka, who would like to see young Qataris given more opportunities to learn about the business world.
              Oxford Business Group
              28 April

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