Qatar Development Bank (QDB) has announced the launch of the first model factory of its kind in Qatar and the region, 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.
Commenting on the launch of Factory One, the CEO of QDB Abdulaziz bin Nasser Al Khalifa, 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".
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