Doha, Qatar: In line with its efforts to support the digital transformation of Qatar’s entrepreneurship ecosystem, and in conjunction with the world’s largest Tech event, the Web Summit Qatar 2024, Qatar Development Bank has announced a new partnership with the leading telecom company Ooredoo to leverage Factory One, QDB’s model factory, to empower private companies and Qatari entrepreneurs in their digital transformation journey.

QDB will initiate the digital transformation of Factory One, the first-of-its-kind industrial capability center in Qatar and the region, to provide services and capacity building programs to empower SMEs to digitize their operations.  Under the initiative, QDB and Ooredoo will join efforts to launch the “Digital Factory One” as well as several technology-driven programs and joint activities.

Commenting on the partnership, Dr. Hamad Mejegheer, QDB’s Executive Director ​ of Advisory & Incub​ation, said the bank plays a pioneering role in supporting the digital transformation of Qatar’s entrepreneurship ecosystem by providing all the necessary support to enable the fourth industrial revolution and to empower Qatari entrepreneurs in their digital transformation journey.

“To deliver on our mission, we must work responsibly with partners capable of accelerating efforts to achieve our goals, in accordance with Qatar National Strategy 2030,” Dr. Mejegheer said.

Thani Ali Al-Malki, Ooredoo’s Chief Business Officer, said Ooredoo was pleased to sign an MoU with QDB, with the aim of fast tracking the digital transformation of Qatar’s entrepreneurship ecosystem. “Embracing digital transformation is at the very heart of what we do at Ooredoo. Through our partnership with QDB on the Digital Factory One project, we're not just talking about the future; we're building it, offering tangible solutions that drive the digitalisation of the manufacturing sector in Qatar and beyond. By providing cutting-edge solutions, we are actively empowering economic diversification and helping to create the jobs, businesses, and industries of tomorrow.”

QDB’s Factory One serves as an integrated training center for companies seeking to develop their businesses and adopt best global manufacturing practices to ensure sustainable and streamlined operations. It was developed and financed by Qatar Development Bank in strategic partnership with the Ministry of Commerce and Industry as the first-of-its-kind industrial capability center in Qatar.

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About Qatar Development Bank (QDB)

Qatar Development Bank (QDB) was established in 1997 as the Qatar Industrial Development Bank, a 100% government-owned developmental organization. Its primary aim was to develop investments within local industries, thereby accelerating growth and economic diversification in Qatar through support for the private sector.

QDB has achieved significant milestones in recent years, playing a chief role in growing Qatar’s private sector. QDB has also played an integral role in stimulating national economic and social development, through funding a variety of local projects and providing support to the private sector through a range of innovative services. By adopting this strategy, QDB has contributed to empowering Qatari entrepreneurs, improving the standard of living, as well as allowing Qatari entrepreneurs to benefit from a wide range of promising investment opportunities, and to develop their exporting potentials while supporting their entry to new international markets.

QDB’s strategy is entirely in line with the Qatar National Vision 2030. It is focused on promoting and facilitating the growth of the private sector in key economic sectors, with the aim of building a diversified, sustainable economy.

QDB aims to promote entrepreneurship spirit within the private sector in Qatar through providing the necessary services that shall ease the growth, development, and diversification of this sector. In doing so, QDB offers access to information, incubation, and capabilities to SMEs, in addition to access to capital through direct and indirect financial services, investment and access to local markets, and access to international markets for Qatari exporters though export insurance and funding services.

About Ooredoo

Ooredoo is Qatar’s leading communications company, delivering mobile, fixed, broadband internet and corporate managed services tailored to the needs of consumers and businesses. As a community-focused company, Ooredoo is guided by its vision of enriching people’s lives and its belief that it can stimulate human growth by leveraging communications to help people achieve their full potential.