The Ministry of Finance, in cooperation with Qatar Development Bank, hosted an event on digital transformation and Industry 4.0 in Qatar. The event, which took place at Msheireb Downtown Doha, explored the latest global developments, promising ventures and programs, and future strategies and initiatives to foster the adoption of emerging technologies and propel the digital transformation of Qatar’s industries and trade.

The event featured a panel discussion that brought together experts in advanced industries, as well as decision-makers from major multinational companies and organizations. The session was attended by local stakeholders, international partners, manufacturers, and SMEs. Participants discussed advanced digital manufacturing capabilities, future plans for Qatar’s industrial sectors, and the country’s leadership in the region in terms of embracing the Fourth Industrial Revolution.

Qatari manufacturing companies that successfully graduated from QDB’s Factory One program were recognized during the event. These companies demonstrated exceptional manufacturing efficiency and effectiveness, showcasing their strong ability to adopt advanced digital solutions after completing the Digital Transformation program, the Advanced Industry program, and the Lean and Transform program.

The event also featured two workshops focused on advanced manufacturing and trade technologies. The workshops provided valuable insights into the development of Industry 4.0, with a focus on advancements in manufacturing, logistics, trade, and the integration of modern technologies such as artificial intelligence and the Internet of Things. The workshops also touched on the role of digital solutions in improving SMEs’ access to trade finance and streamlining customs operations to accelerate processes, reduce costs, and enhance efficiency.

Dr. Abdulaziz Khalid Al Ali, Director of the Centre for the Fourth Industrial Revolution (C4IR) at the Ministry of Finance, said the event marks one of the first initiatives since the Centre’s launched on the sidelines of the Doha Forum 2024.

“The Centre aims to harness Fourth Industrial Revolution technologies to accelerate sustainable economic growth in the priority sectors outlined in the National Development Strategy. The workshop highlighted initiatives in industry, trade, logistics, and digital transformation that have been undertaken by members of the World Economic Forum’s C4IR network. These efforts have fostered knowledge transfer and dialogue between government, private, and academic entities. We are proud to collaborate with our colleagues at Qatar Development Bank, a leader in driving digital transformation across Qatar’s industries and we look forward to the Centre’s future events.”

Dr. Hamad Salem Mejegheer, QDB’s Executive Director of SMEs Development, said the bank is thrilled to partner with the Ministry of Finance to host this event. “We believe that events focused on digital transformation and Industry 4.0 are increasingly important in light of rapid technological advancements. This event reflects our commitment along with our partners to adopting the latest advanced manufacturing technology solutions and ensuring that Qatari companies and factories can localize this knowledge. We aim to foster innovation in these technological fields, enabling Qatar to pursue its leadership role in digital transformation as part of its National Vision 2030."

To empower SMEs to adopt advanced technological solutions, QDB announced the launch of its Digital Transformation Initiative, which offer tools for conducting self-assessments of digital readiness. In this context, QDB has adopted the Smart Industry Readiness Index (SIRI) to assess the digital maturity of companies and factories and trained certified assessors from various public and private sector entities to monitor SIRI assessments. The bank also announced its Digital Grant to provide financial support to early-stage startups and its Digital Loan initiative offering low-interest rates to SMEs.

Shortlisted SMEs will participate in the two- to three-month-long Digital transformation Program, which offers education on Industry 4.0 practices and the opportunity to test more than 18 digital solutions at Factory One, helping them identify the best solutions for their specific manufacturing needs.

On the sidelines of the event, QDB signed three memoranda of understanding with Tulip, TUV SUD firm, and the International Centre for Industrial Transformation (INCIT). The agreements are part of the bank’s ongoing efforts to support Qatar’s manufacturing sector, facilitating partnerships that promote technical and operational development, benefiting the private sector and contributing to the country’s economic diversification efforts.

About Qatar Development Bank

Qatar Development Bank (QDB), previously known as Qatar Industrial Development Bank, was established in Qatar in 1997 by Emiri Decree No. 14 as a developmental organization with the primary objective of fueling industrial growth and driving the private sector’s economic diversification. Over two decades of transformation, QDB has reinvented itself to become the main supporting arm for Qatar’s private sector and a powerful catalyst for socio-economic development through three access-based pillars to SME and private-enterprise support: Access to Finance, Access to Markets, and Access to Capability.

The Bank’s whole-journey support system covers various financing schemes and consultation services that include marketing, legal advice, booking, mentoring and development, grants and accreditation, and capacity-building platforms. This has allowed QDB to become the SME’s growth partner from ideation to fruition, meeting their aspirations at every stage in order to compete at the national and global levels, while improving the economic development cycle and bringing the country closer to realizing its national vision for 2030.

Today, the Bank and its subsidiaries are building on Qatar’s rich legacy of socio-economic achievements by taking a brave leap into the future and focusing on the digital transformation of the country’s SME and business ecosystems to usher entrepreneurs and SMEs into the new economy, embrace emerging opportunities, and steadily transform QDB into a digital bank of the future and a lighthouse that leads the way for financial and developmental institutions across the region and beyond. For more information, please visit www.qdb.qa