Germany is a key destination for Qatari investments, says chamber official

Germany is a key destination for Qatari investments, says chamber official

Germany is an important destination for Qatar’s large-scale investments in sectors like automotive, communication, hospitality, and banking, among others, Qatar Chamber second vice chairman Rashid bin Hamad al-Athba said on Sunday.

During the Qatar-German Business Forum held at the chamber’s Doha headquarters, al-Athba said Qatari investments in the Western European country increased after the visit of His Highness the Amir Sheikh Tamim bin Hamad al-Thani to Berlin in 2018 where he announced Qatar’s intention to invest €10bn in the German economy over the next five years.

Al-Athba said Qatar-Germany trade stood at €1.5bn in 2020, adding that there are more than 150 German companies operating in Qatar in a variety of sectors, such as trade, construction, services, medical equipment, and others.

The Qatar-German Business Forum was held in the presence of Dr George Milanin, Policy Officer at the Division of Defence and Security Industries, Federal Ministry for Economic Affairs and Energy; Andreas Berg, deputy ambassador at the German embassy in Qatar; and Saleh bin Hamad al-Sharqi, Qatar Chamber general manager.

The meeting gathered representatives from 13 German companies and their Qatari counterparts specialising in sectors like IT and IT security systems, ICT, cybersecurity, data management, sensors and radars, civil security, firefighting, and