His Highness the Amir announces €10 billion investment in Germany at Qatar-Germany Business and Investment Forum
On 7 September 2018, His Highness Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar, announced that Qatar will invest €10 billion in the German economy over the next five years – Qatar’s largest single investment in the country to date.
The historic announcement was made in the presence of German Chancellor Angela Merkel at the inaugural Qatar – Germany Business and Investment Forum.
Qatar’s investments into Germany have thus far reached €25 billion. The additional investment will further strengthen the countries’ long-standing bilateral relationship and bring benefits to a range of German industries.
During the forum, high-level government officials and executives from both countries participated in panel discussions to talk about their countries’ business and investment opportunities and ways to expand the long-term Qatari-German economic partnership. Among the notable list of panel members from Qatar were His Excellency Mr Ali Shareef Al Emadi, Minister of Finance, His Excellency Sheikh Ahmed bin Jassim Al Thani, Minister of Economy and Commerce, and His Excellency Dr. Mohammed Bin Saleh Al-Sada, Minister of Energy and Industry.
German representatives included Michael Müller, President of the Bundesrat and Governing Mayor Berlin, Peter Altmaier, Federal Minister for Economic Affairs and Energy, and Christian Sewing, CEO of Deutsche Bank.
Over 300 German companies currently operate in Qatar, and Qatar’s diversifying economy continues to be an attractive destination for German investors. In the past year, Qatar has developed and implemented several new laws and regulations that facilitate foreign investment and make it easier for foreign businesses to operate in Qatar. This includes legislation allowing for full foreign ownership of companies operating in Qatar and the launch of the Single Window that aims to facilitate start-ups to establish themselves in Qatar by providing integrated and easy services to entrepreneurs via a single online portal.
For more information about Qatar, and Qatar-Germany relations, please read the latest special edition of Q Magazine, which is dedicated to the Qatar-Germany Business and Investment Forum.