Doha, Qatar – 27 February 2021: Qatar Development Bank (QDB) has announced the launch of the Region’s first model factory concept, Factory One, which is located within the Qatar Business Incubation Center campus and aims to enable Small and Medium Sized Enterprises (SMEs) in achieving operational excellence.
Factory One is the first-of-its-kind industrial capability center based out of Qatar, established in collaboration with McKinsey & Company to bring world-class experience in lean operations to power local manufacturing industries. 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.
The launch of the model factory coincides with positive market trends exhibiting exponential growth in local industries. Over the last three years, Qatar’s focus on self-sufficiency and economic diversification have led to an overall 17% increase in factories across a variety of sectors.
As the focus of the economy shifts towards higher technology industries and digital transformations, Factory One steps in as the primary center of lean and digital manufacturing training to boost operations for SMEs.
Commenting on the launch of Factory One, Abdulaziz bin Nasser Al Khalifa, CEO of QDB, stated:
“Qatar is among the fastest-growing global economies in the world. The emergence of new industries, factories and enterprises demonstrate the vast potential that underpins our comprehensive economic development. Factory One enters the scene to support these industries tap into their full potential by taking them to the next stage of production.
Here, our motto is to achieve more by doing less. By fully integrating the principles of sustainable development, we offer our local manufacturers new prospects to transform and achieve operational excellence using less inventory and with less wastage.
Through Factory One’s revolutionary model, we hope to boost the capabilities of our local industries, the expansion of our markets and the diversification of the economy.”
Currently, Factory One offers four 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. Manufacturing SMEs can select the specific training program with the added benefit of requesting programs be tailored to their specific needs. Remote trainings are also offered extending training opportunities to participants who are unable to physically travel to the facility.
The programs aim to benefit an array of manufacturing SMEs from start-ups to established factories that are looking to transform their industrial processes. More can be discovered at Factory One’s website www.factoryone.qa.
With enormous potential to power manufacturing SMEs in the region, Factory One is the latest in a string of initiatives under the belt of the QDB who is at the frontline of supporting Qatari SMEs, start-ups, and the next generation of innovative entrepreneurs across numerous sectors. Carrying a rich legacy, Qatar Development Bank remains a key player in the economic development of the country and instrumental in driving growth in diverse sectors of the economy center to the sustainable development goals under the Qatar National Vision 2030.