Qatar Petroleum has announced that it will launch the Localization Program for Services and Industries in the Energy Sector TAWTEEN � an initiative to enhance localizing the sector's supply chain and expand the small and medium enterprises base.
The program will be launched on 18 February 2019, with the large participation of official bodies and entities, energy sector companies, and a wide spectrum of service providers and supporting industries.
TAWTEEN Program is designed to enhance the resilience of Energy Sector's supply chain. It also aims at creating around 100 new investment opportunities within the energy sector in order to retain economic value within the State of Qatar, which in turn is expected to add QAR 8 Billion of import substitutes annually and is also expected create more than 5000 new white collar jobs. Moreover, it will provide valuable business opportunities for local and international entrepreneurs in Qatar, or those planning to set up business in Qatar, by providing technical support as part of TAWTEEN supplier development programs, and create an environment to participate in the sector's supply chain and generate high-quality job opportunities.
One of TAWTEEN's most important aspects is introducing In-country Value (ICV) policy, which is designed to reward suppliers and contractors who execute their contracts and agreements by maximizing local content. An essential pillar of Qatar's localization efforts, ICV will integrate into the way business is conducted, and will set forth the rules and requirements of doing business.
Commenting on the upcoming launch, His Excellency Mr. Saad Sherida Al-Kaabi, the Minister of State for Energy Affairs, the President & CEO of Qatar Petroleum, said Tawteen is a realization of the vision and directives of His Highness the Amir, which have outlined the road map towards economic diversification and self-reliance.
H.E. Mr. Al-Kaabi said the Localization Program for Services and Industries in the Energy Sector is an important initiative that will enhance the resilience of the entire energy sector. It constitutes a further step in creating opportunities and promoting the establishment of various industries within Qatar as part of the State's economic diversification strategies.
This program aims primarily at helping develop the private sector, particularly small and medium-sized enterprises, which plays an important role in Qatar's economic development in terms of production, employment generation, and contribution to manufacturing, exports, and GDP. On an equal footing, TAWTEEN will provide greater support to the oil and gas industry, and will reinforce the State of Qatar's position as a leading, reliable, and trustworthy supplier of clean energy and high quality hydrocarbon products to the world, H.E. Mr. Al-Kaabi concluded.
Qatar Petroleum is working with various government authorities and stakeholders to facilitate the provision of the required infrastructure and for the creation of appropriate policies, regulations and incentives to attract local and international companies to establish operations in Qatar.
It is also coordinating with other stakeholders to help facilitate the development of new industries in the energy sector in order to ensure they acquire the capacity for greater competitiveness and financial sustainability.
Source: Qatar Petroleum