QNA
Doha
The Ministry of Defense (MoD) on Wednesday announced that it has established a company called Barzan Holdings to enhance the military capabilities and invest 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 said the company was the result of two years of hard work by the ministry.
The ministry succeeded recently in concluding a number of strategic deals with leading international companies in the field of defence, he added.
Barzan Holding's mission is focused on investing in defence and security companies, supporting research and development efforts, and participating in the strategic purchases by the armed forces, he noted.
Khater added the company is looking to enhance human capital by equiping itself with the latest military knowledge to be able to help Qatar achieve self-sufficiency and build a bright future for the generations to come as they look to realise Qatar National Vision 2030.
The company is a limited liability one with headquarters in the Qatar Science and Technology Park.
Given that it is fully-owned by the Ministry of Defense, Deputy Prime Minister and Minister of State for Defense Affairs HE 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 opportunities to work with international companies in the field of research and development to facilitate transfer of technology and boosting of innovative technology in defence and security fields.
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 the Emir His Highness Sheikh Tamim bin Hamad al Thani.
The strategic objective is based on the concept of a diversified knowledge-based economy that does not depend on oil and gas. By bringing the latest technology and innovative industries to the economy, Barzan Holdings is in full alignment with the 2030 vision. This will stimulate the building of human capital in Qatar through the transfer of knowledge and the creation of new professions.
Barzan Holdings invests 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 developing partnerships between Qatar and 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 transfer of knowledge, enhancement of human capital and 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 company also plays an advisory role with respect to the Ministry of Defence's procurement of strategic projects, with a view to achieving maximum effectiveness with regard to design and implementation.
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.