DOHA --- The Ministry of Defence has established a company named Barzan Holdings that aims to enhance military capabilities and investment in the defence industry.
The company would also support research and development efforts in the field of military technology. The company's official launch will take place at the Doha International Maritime Defense Exhibition and Conference (DIMDEX) on March 12.
CEO of Barzan Holdings Mohammed Mubarak al-Khater told mediapersons on Wednesday that the company was the result of two years of hard work by the ministry. He highlighted that the ministry had succeeded recently in reaching a number of strategic deals with leading international companies in the field of defence.
He noted that Barzan Holdings' mission was focused on investing in defence and security companies, supporting research and development efforts, and participating in the strategic purchases of the armed forces.
Al-Khater said the company is looking to enhance human capital by providing it with the latest military knowledge. "This will help Qatar achieve self-sufficiency and build a bright future for the future generations as they look to realise Qatar National Vision 2030."
The company is a limited liability one with headquarters at the Qatar Science and Technology Park.
Given that it is fully-owned by the Ministry of Defence, HE the Deputy Prime Minister and Minister of State for Defence Affairs Dr Khalid bin Mohammed al-Attiyah will oversee the company and determine its plans.
Barzan Holdings will look to follow the latest trends in technology, and sign agreements with leading international companies in the defence sector. It will also be considered a commercial platform given its status as a gateway to military industries in Qatar. The company will also provide cooperation opportunities with international companies in the field of research and development.
The Barzan Holdings company derives its values from the Qatar National Vision 2030, which sets a roadmap for the sustainable future under the leadership of His Highness the Emir Sheikh Tamim bin Hamad al-Thani.
The strategic objective of the vision is based on the concept of a diversified knowledge-based economy that does not depend on oil and gas.
Barzan Holdings invests directly in defence and security companies. It will also conduct joint venture deals, through which it seeks to achieve a combination of financial returns through its investment company and strategic advantages for the benefit of Qatar, by developing new technology, acquiring intellectual property, and transferring knowledge in addition to making partnerships between Qatar and the rest of the world.
Barzan Holdings is working to establish partnerships with leading defence and security organisations, a key way for the company to build research and development capabilities in Qatar. These joint projects were structured to facilitate the transfer of knowledge, the enhancement of human capital and the development of the defence and security sector.
Each joint-stock company owned by Barzan Holdings also attaches great importance to research and development, providing funding and facilities, as well as providing feedback to end-users of the Qatar Armed Forces. Barzan Holdings has a team that oversees research and development in all its joint offices.
Barzan Holdings is set on an area of nearly 40,000 square metres at Qatar Science and Technology Park dedicated to research and development. The location near Education City was selected to provide technical facilities for the company's work, as well as easy access for students to participate in research and development.
The company also plays an advisory role with respect to the Ministry of Defence's procurement of strategic projects carried out by the ministry, with a view to achieving maximum effectiveness with regard to design and implementation. It also focuses on large, high-value purchases.
Barzan Holdings is involved in the stage of deals between foreign companies and the Ministry of Defence to ensure that Qatar's long-term strategic needs are met as part of the purchase deal. This is done by providing research and development as well as knowledge transfer across the partner institution.
It is also improving the procurement process through its expertise in the fast delivery process and the delivery method required to meet Qatar's needs in the best way possible.