CEO of Barzan Holdings: We Aim to Localize, Attract Defense Industries in Qatar

Abdullah Al-Khater, CEO of Barzan Holdings, receives a visitor at the World Defense Show in Riyadh. (Asharq Al-Awsat)
Abdullah Al-Khater, CEO of Barzan Holdings, receives a visitor at the World Defense Show in Riyadh. (Asharq Al-Awsat)
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CEO of Barzan Holdings: We Aim to Localize, Attract Defense Industries in Qatar

Abdullah Al-Khater, CEO of Barzan Holdings, receives a visitor at the World Defense Show in Riyadh. (Asharq Al-Awsat)
Abdullah Al-Khater, CEO of Barzan Holdings, receives a visitor at the World Defense Show in Riyadh. (Asharq Al-Awsat)

CEO of Barzan Holdings Abdullah Al-Khater said the company aims to strengthen defense industries and attract defense technology to Qatar.

In an interview with Asharq Al-Awsat on the sidelines of the World Defense Show, which concluded in Riyadh on Friday, Al-Khater said the company’s work is based on different axes, namely domestic and foreign investment in defense technology and supporting the Qatari Ministry of Defense in acquisitions and purchases and building local defense capabilities.

He noted that Barzan Holdings was implementing a strategy that is founded on long-term plans, pointing to the establishment of a large number of companies, which have begun manufacturing defense products, weapons and systems.

Barzan Holdings has also completed some projects on behalf of the Qatari Ministry of Defense in a number of various fields, he underlined.

Moreover, Al-Khater explained that the signing of the joint cooperation agreement with the Saudi Military Industries Company (SAMI) covers several areas, including joint projects, cooperation in production and joint investments in the fields of defense and security.

He stressed that a number of factors contributed to the achievements of Barzan Holdings, mainly the support provided by the Qatari leadership, investments in the human cadre by attracting local and foreign minds, and cooperation with international companies.

Al-Khater revealed that the company was seeking to enter the multiple fields in the defense industries, whether at the level of light or classic industries, or even the advanced manufacturing, such as the technological field, and the employment of artificial intelligence and drones.

Regarding export plans, he noted that while export was one of the priorities of Barzan Holdings, the main goal of building the defense field is to meet the local need.

He said in this regard: “The sustainability of these companies requires working on the concept of export, which represents one of our main goals... and we aspire to achieve it, whether at the regional or international level.”

Al-Khater stressed that the company was open to cooperation with regional companies, including SAMI and others.

On the company’s participation in the World Defense Show, he noted that Barzan Holdings showcased a number of its products and was looking forward to greater participation in future editions.



E-commerce Giant Alibaba Has Completed 3-year 'Rectification' Period

Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
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E-commerce Giant Alibaba Has Completed 3-year 'Rectification' Period

Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters
Alibaba Group has completed three years "rectification" following a fine levied in 2021 for monopolistic behavior. Reuters

China's State Administration of Market Regulation issued a statement on Friday saying Alibaba Group had completed three years "rectification" following a fine levied in 2021 for monopolistic behavior.
In 2021, the regulator slapped a record $2.75 billion fine on the e-commerce giant for abusing its market position by forcing merchants on its platforms not to work with rival platforms.
The regulator's statement said Alibaba's rectification work had achieved "good results" and that it would continue to "guide" Alibaba to continue to "regulate its operations and improve its compliance and quality."
The fine levied on Alibaba in 2021 came during a period of intense scrutiny for the business empire founded by billionaire Jack Ma, Reuters reported. A $37 billion IPO by the finance arm he founded, Ant Group, was also scuttled following Ma's public critique of the country's regulatory system in late 2020.
Alibaba, in its own statement, described the regulator's announcement on Friday as a "new starting point for development" and said it would continue to "promote the healthy development of the platform economy and create more value for society."