Qatar marine company Nakilat is to collaborate with the Qatar Development Bank (QDB) in offering financial help and support for exporting SMEs.
Nakilat, whose subsidiary companies build, maintain and repair ships and provide towage and other marine services, has signed a memorandum of understanding (MoU) with the government-owned QDB, with a view to providing marine export credit insurance and financing.
The MoU aims to create opportunities for local SMEs to supply contracts for Nakilat and its affiliate businesses in Qatar. QDB has agreed to provide advice, guidance and financing for entrepreneurs to make them certified providers in the maritime industry.
Abdullah Al Sulaiti, Nakilat managing director, said the agreement reaffirmed the company’s commitment to growth and development of the sector.
“By working together, we will provide solutions and services in the maritime industry, which consequently aids in strengthening the role of the Erhama bin Jaber Al Jalahma shipyard. As a result, we will be able to offer competitive products for the maritime industry. In addition, we have future projects that will in turn contribute to the achievement of Qatar National Vision 2030,” he said.
Abdulaziz Bin Nasser Al Khalifa, chief executive of QDB, said signing the MoU was in line with its strategy to encourage entrepreneurs to enter the maritime industry.
Nakilat is also the transport wing of Qatar’s liquefied natural gas (LNG) industry, and has the world’s largest fleet of LNG ships. QDB’s Tasdeer programme offers financial solutions and guidance to Qatari businesses that export internationally.