Doha, March 11 (QNA) - In line with its efforts to support the digital transformation of Qatar's entrepreneurship ecosystem, Qatar Development Bank (QDB) 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 & Incubation, 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. (QNA)