19/11/2017 06:05 AST

Germany wishes to see more Qatari investments in the country, said German Minister of Economy and Finance, Brigitte Zebrais.

Welcoming a high-level delegation from the Qatari Businessmen Association (QBA) in Berlin yesterday, she said, “I had visited Qatar in 2015; I am impressed with the developments in Qatar.”

Zebrais described Qatar’s investments in Germany as “good and strategic” and encouraged Qatari investors to invest more in her country.

HE the Minister of Municipality and Environment Mohamed bin Abdullah al-Rumaihi said, “Qatari investments in Germany are important as is the case with German investments in our country. Qatari businessmen are open to new partnerships with international investors. “Procedures for foreign investments in Qatar have been eased through an Emiri Decree. Hence, it is an opportunity for German companies to take a share of the proposed projects.” Al-Rumaihi said investment opportunities in Qatar for industrial zones and small and medium-sized German enterprises were discussed.

He announced that ‘Business and Investment in Qatar Forum’ would be held in Berlin on April 2018. The conference will bring together about 600 businessmen and senior government officials, which will further strengthen bilateral relations and increase bilateral trade between Qatar and Germany.

It will focus on sectors such as food, energy, medicine and chemical sectors. The QBA delegation yesterday met with Prof Dr Lars Hendrik Roller, chief economic and financial adviser to the German chancellor.

He gave an overview of German economy and stressed on the importance of the bilateral relationship.

Roller said, “Qatari investments in our country are successful and are to our satisfaction. We will work to develop new tax laws that will encourage foreign investors.”

QBA chairman HE Sheikh Faisal bin Qassem al-Thani invited German leaders and businessmen to visit Qatar and welcomed German companies to set up their operations in Doha.

Qatar’s ambassador to Germany, Sheikh Saud bin Abdul Rahman al-Thani said ‘Qatar Cultural House’, the first such facility outside of Qatar, will be inaugurated by HE the Deputy Prime Minister and Minister of Foreign Affairs, Sheikh Mohamed bin Abdulrahman al-Thani on November 23.

QBA leaders met with their German counterparts in the iconic structure in Berlin. Sheikh Saud said the bilateral trade between Qatar and Germany amounted to €3bn. Qatar’s investments in Germany exceed €25bn ranging from sectors such as automotive, to IT and banking. On the other hand, German companies are implementing projects worth more than €20bn in Qatar.

“This confirms the depth of the bilateral relationship between our two countries,” Sheikh Saud said.

QBA Board of Directors’ member Sheikh Nawaf bin Nasser al-Thani said Germany highlighted the relationship German multinational companies such as Volkswagen, BMW and Mercedes have with Qatar.

Sheikh Nawaf also spoke about the “importance of Qatar as investment destination” and said about QR94bn have been earmarked in the current year’s budget for major projects. As much as QR46bn have been set apart for new project contracts, QR25bn for infrastructure projects and transport, QR8.5bn for projects related to the FIFA World Cup 2022 and QR6bn for education and health projects.

In one of the sessions, QBA first deputy chairman Hussein Alfardan ensuring “food and medical security” was a guarantee of meeting basic needs and ensuring economic and social stability.

QBA second deputy chairman Sheikh Dr Khalid bin Thani al-Thani said the Qatari economy has absorbed “most of the negative effects of the political and economic shocks of the blockade.” QBA Board members Sheikh Hamad bin Faisal al-Thani, Sherida al-Kaabi, and QBA members Saud al-Mana, Salah al-Jaidah, and Sheikh Turki bin Faisal al-Thani and Sheikh Jabor bin Abdelrahman al-T

Gulf Times

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