Acting Chief Executive Officer of Qatar Development Bank (QDB) Abdulrahman Hesham Al Sowaidi announced QDB's intention to expand the model factory concept, Factory One, with the aim of improving national industrial system and raising its contribution to the national economy.
In a speech after 9 new national companies completed the factory programs, Al Sowaidi praised the companies on the achieved successes and congratulated their owners on completing their training journey as well as on the operational flexibility achieved to raise their production competencies, which is the main goal behind launching the factory, the first of its kind in Qatar in the field of developing industrial capabilities.
The firms, which have successfully completed programs for raising operational excellence and production efficiency, are: Mazzraty, Suhail Factory for Metal Casting, Suhail Metals, elegancia steel, elegancia joinery, Qatar Meat Production, Qatar Integrated Plastic Bags Factory, Salem bin Hassan Al Ansari Carpentry, and Qatar Rockwool Factory.
Factory One offers several trainings and programs ranging in scope from Introduction to Lean to Learn and Transform Program - a hands-on training program on implementing these concepts on-ground. A broad spectrum of capability-building and SME transformation programs will be delivered at the center offering local manufacturers the opportunity to advance their efficiency, innovation, and competitive advantage.
Since its launch in 2021, industrial companies in various sectors have benefited from the factory programs, in addition to more than 100 field visits to about 30 beneficiary small and medium companies. This was reflected in their business models through the Learn and Transform Program, and raising the efficiency of their productivity by an average of 30 percent with an expected financial amount estimated at QR 88 million, in addition to the evaluation programs supervised by the factory such as the SIRI program and evaluation model.
The Factory One is part of the QDB's business incubators and accelerators system. It is funded and developed by the bank, and it is the result of cooperation between the bank, the Ministry of Commerce and Industry, and McKinsey & Company.
Source: Qatar News Agency
