Qatar’s investments in Germany exceed €25bn in ‘vital’ sectors

      Published on Thursday, 6 September , 2018      225 Views     
Qatar’s investments in Germany exceed €25bn in ‘vital’ sectors

  • Business

Qatar’s investment in Germany has exceeded €25bn in a wide range of sectors, according to the ‘The National Committee for Organising the Business and Investment in Qatar Forum’.

The committee, which is organising the ninth edition of the ‘Qatar-Germany Business and Investment Forum’ slated on September 7 in Berlin, said the forum will highlight major projects to be implemented in Qatar and Germany in the commercial, economic, investment, and construction fields.

With a wide participation of senior government officials and decision makers, in addition to businessmen and representatives of the public and private sectors, the forum aims to further enhance Qatar-Germany bilateral relations in all areas. These will be discussed in the panel sessions that cover all economic sectors, the committee noted.

The committee said it also seeks to promote Qatar’s role and economic status along with the vast privileges offered to foreign investors, especially in the value-added sectors that respond to the Qatar National Vision 2030, and support the shift towards a knowledge-based economy.

“This forum is held at a time when Qatar’s investments in Germany exceed €25bn and includes vital projects in the automotive, information technology, and banking sectors, and a common desire to promote and develop mutual investments,” the committee said in its website.

In recent years, trade relations between Qatar and Germany have witnessed significant development, with both countries seeking to expand areas of mutual cooperation, the committee said.

“This development is reflected in the increasing number of German companies operating in the Qatari market, which now amounts to more than 300. This volume of trade has amounted to approximately €1.9bn, making Germany one of Qatar’s most important trading partners.

“Qatar’s outstanding investment activities in Germany have also furthered interest in extending bridges of long-term mutual cooperation at economic and financial levels,” the committee continued.

According to the committee, Germany is also a key partner in achieving Qatar’s vision towards a technology-based economy.

As part of its ambitious efforts to modernise the education sector, Qatar Science and Technology Park hired the German software giant, SAP, to play a significant role in training and rehabilitating Qatari youth.

While supplying key equipment, the project also transferred German knowledge and technology to develop specific programmes and applications in Qatar, the committee said.

Qatar has become a significant partner for Germany in the Mena region, the committee said, adding that Doha and Berlin have more than 60 years of commercial relations and 43 years of diplomatic relations.

It also said Qatar and Germany collaborate and have partnership agreements in the fields of science, education, technical training, research and development, and new and renewable technologies, among others.

“This robust relationship is built upon mutual trust and a shared vision and is a cornerstone of Germany’s cooperation with the Arab world,” the committee stressed.

The committee said the forum will be held “under the patronage of His Highness the Amir Sheikh Tamim bin Hamad al-Thani, and in the presence of German Chancellor Angela Merkel.”

“This cross-continental event has become a landmark of Qatar’s commitment to benefit from the potential investment opportunities as an important pillar in the country’s economic strategy,” it added.

Category Business | 2018/09/06 latest update at 6:00 AM
Source : Gulf Times | Photocredit : Google
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