QDB opens up Russian market for Qatari firms

Tribune News Network Doha In its ongoing pursuit to create opportunities for Small and Medium Enterprises (SMEs) across fields and domains, Qatar Developme...

Tribune News NetworkDohaIn its ongoing pursuit to create opportunities for Small and Medium Enterprises (SMEs) across fields and domains, Qatar Development Bank’s (QDB) investment arm has facilitated the entry of nine Qatari companies into the Russian market. The Bank accomplished this feat through the “Soft Landing” programme supervised by the Skolkovo Foundation, which enables growth-oriented enterprises to enter the Russian Federation’s market and grants them access to local partners and investors.The process of accessing and penetrating international markets is considered one of the prominent challenges for SMEs, especially as it entails in-depth research, data intelligence, and evaluation to identify and understand all the requirements related to those markets. With this in view, QDB, through its various departments and initiatives, continues to work closely with international partners and stakeholders to tackle those challenges.QDB’s CEO Abdulaziz bin Nasser Al Khalifa said, “Through the bank’s participation, we seek to leverage QDB’s distinguished partnerships to enable Qatari companies to reach international investors and collaborate in productive and mutually fruitful ways towards attracting capital and expanding their footprint globally, in addition to priming them for participating in international investment forums.”The Skolkovo Foundation is the Russian institution responsible for nurturing and developing the tech, innovation, and entrepreneurship ecosystem. The renowned Foundation has welcomed to its “Soft Landing” program 33 enterprises from 14 countries, nine of which are Qatari.Qatari companies got introduced to the Russian market and the business climate under which SMEs operate. This is in addition to gaining the opportunity to present their ideas to, and work closely with, peers and partners, as well as securing financing from Russian investors, thereby granting them a greater opportunity to expand and integrate successfully into the local market.The participating Qatari companies were able to demonstrate the value they bring to the marketplace after three of those participants, namely, Sponix, Droobi, and Subol, were ranked among the top five participants in the program. This is in addition to the business development conferences and sessions in which the entrepreneurs participated, opening up new horizons for collaboration and expansion into the Russian market.Participation in this program is considered the first of its kind for QDB and has proven successful, gaining recognition and praise from the Russian Skolkovo Foundation. On this account, the Bank seeks to continue providing more opportunities for other Qatari enterprises to participate in such internationally acclaimed programs and attract investments from international investors, which facilitates their rapid entry and expansion into new markets.