QBA seeks investment opportunities with German companies
The Qatari Businessmen Association (QBA) hosted a German economic delegation led by H.E. Dr. Jörg Kukies, the German Minister of Finance, accompanied by senior representatives from major German companies in the energy and financial sectors. The meeting aimed to strengthen economic and trade relations between Qatar and Germany and to explore cooperation opportunities in priority sectors, including finance, advanced industries, technology, innovation, digital transformation, renewable energy, logistics, trade, and investment.
From QBA, The meeting was attended by H.E. Sheikh Faisal bin Qassim Al Thani, QBA Chairman, along with QBA board members Mr. Sherida Al Kaabi and Mr. Saud Al Mana. Other attendees included QBA members Sheikh Mohammed bin Faisal Al Thani, Mr. Omar Hussain Alfardan, Mr. Khalid Al Mannai, Mr. Youssef Jassem Darwish, Mr. Maqbool Habib Khalfan, Mr. Abdul Rahman Darwish, Mr. Youssef Al Mahmoud, Dr. Mohamed Althaf, and Mr. Hakan Ozdemir, in addition to Ms. Sarah Abdullah, Deputy General Manager.
From the German side, the meeting was attended by H.E. Mr. Heiko Thomas, State Secretary at the Ministry of Finance, H.E. Mr. Lothar Freischlader, Ambassador of the Federal Republic of Germany to Qatar, and representatives from the German Chamber of Commerce and Industry in Qatar.
At the beginning of the meeting, Dr. Jörg Kukies highlighted the productive meetings he had with Qatar's Minister of Finance and Minister of Energy, praising the significant economic development Qatar has experienced over the past decade. He noted Qatar's substantial investments in infrastructure and its readiness to diversify its economy. Dr. Kukies emphasized the importance of economic cooperation between the two countries, stating that Qatari investments in Germany are crucial for economic growth and job creation.
He also mentioned Germany's ongoing energy transition towards green and electric energy, with numerous projects underway, adding that Germany is considered one of the most attractive places for business, boasting a diverse economy with added value in sectors such as automotive, chemicals, mechanical industries, and small and medium-sized technology companies.
Dr. Kukies pointed out that Germany is the largest economy in Europe and serves as a gateway to approximately 450 million consumers. He also highlighted Germany's upcoming program to coordinate between major German companies and banks to establish a strong financial center to promote Germany and support startups, with the government aiming to invest around 12 billion euros in these companies by 2030.
H.E. Sheikh Faisal bin Qassim Al Thani welcomed the delegation and said that trade and investment relations between Qatar and Germany are witnessing rapid growth, driven by a shared vision to enhance economic and trade cooperation and create new partnership opportunities between the business communities of both countries.
He noted that the QBA regularly conducts visits to major global countries, including Germany. In May 2024, a QBA delegation visited leading German companies in fields such as technology, healthcare, tourism, and other sectors, holding numerous meetings through the Qatari German Joint Task Force to explore investment opportunities and overcome obstacles for private companies in both countries.
Sheikh Faisal also emphasized that the financial sector is a partner in the economic development process of both countries. He added, "As members of the association, we have several businessmen who own private banks and are also shareholders in numerous banks. Deutsche Bank is represented in the Middle East by a member of the Qatari Businessmen Association. He also “we as businessmen seek that the banking sector contributes to the development process and finance private companies in both countries, especially in important projects with added value and operational capacity."
He further commented that Qatar's third strategy clearly aims at the transition to a digital economy and attract cumulative foreign investments in various fields, reaching up to $100 billion by 2030. This can be discussed with German companies that own giant enterprises in various fields. Sheikh Faisal in his note, welcomed German companies to Qatar, stating that the country is prepared and open to receiving German investments, whether independently or in partnership with Qatari businessmen.
This meeting served as a platform to enhance direct communication between businessmen, investors, and German companies, contributing to opening new horizons for sustainable economic growth and strengthening trade and investment relations. This growth reflects the strength of the economic partnership between the two countries and the ongoing joint efforts to enhance trade flows and diversify areas of cooperation, supporting a sustainable economy and opening new avenues for the business and investment sectors.