The Qatar National Vision 2030 supports economic diversification by reducing the reliance on hydrocarbon resources and developing the non-hydrocarbon sector as the engine of future growth. Supporting entrepreneurial initiatives through small and medium enterprises (SMEs) is essential, as they are key drivers of growth in the non-hydrocarbon sector. For this purpose, an important prerequisite is to identify and agree upon a uniform definition of SMEs across financial institutions. This would help to reduce barriers for SMEs who wish to access credit from banks and mobilise resources from the venture capital market.

The regulatory authorities will also contribute to the development of the SME sector through support for the initiatives of the Qatar Development Bank and other government departments in promoting policies that provide access or incentives to funding for SMEs.