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Amir Announces ¤10Bn Investment in Germany

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Amir Announces ¤10Bn Investment in Germany BUSINESS | 14 SPORT | 16 Qatari companies Samba set for keen to form JV with season-ending fireworks German firms: QC in Ostrava Saturday 8 September 2018 | 28 Dhul-Hijja I 1439 www.thepeninsula.qa Volume 23 | Number 7643 | 2 Riyals Amir announces ¤10bn investment in Germany H H the Amir and German Chancellor attended yesterday the signing ceremony of establishing the Qatari-German Business Council between Qatari Businessmen Association and the Association of German Chambers of Industry and Commerce. SATISH KANADY THE PENINSULA BERLIN: Qatar and Germany further consolidated their long- standing partnership yesterday with the Amir H H Sheikh Tamim bin Hamad Al Thani committing to invest €10bn into German economy. German Chancellor Angela Merkel said the energy sector offered promising opportunities to expand business ties and Qatar’s LNG supplies would help diversify Germany’s supply sources. Amir H H Sheikh Tamim bin Hamad Al Thani and German Chancellor Angela Merkel watching a model of Al Bayt Stadium on the sidelines of the Qatar-Germany Business “In expression of our confi- and Investment Forum. RIGHT: Amir H H Sheikh Tamim bin Hamad Al Thani addressing the Qatar-Germany Business and Investment Forum in Berlin yesterday. dence in the strength of the German economy and the importance of investing in it, I the signing ceremony of estab- German side. between the two countries has declare the intention of the State lishing the Qatari-German With the H H the Amir’s doubled between 2011 and 2016 of Qatar to inject investments Business Council between Qatari announcement to pump €10bn to reach about €2.8bn, mostly worth ¤10bn into the German Businessmen Association and the additional investment in in favour of Germany, which economy over the next five years Association of German Chambers Germany, Qatar has emerged as The Qatar-German partnership is moving into a new phase has become the third largest as another addition to our suc- of Industry and Commerce, the GCC’s biggest investor in this thanks to the success of the Qatar-Germany Business and world exporter to Qatar. “This cessful investments in Germany,” during the Investment Forum. European powerhouse. Together Investment Forum in Berlin. The Forum has gained momentum volume of exchange decreased H H the Amir announced while Chairman of Qatari Businessmen with yesterday’s commitment, due to the great development in our political and commercial in 2017 due to temporary opening the Qatar-Germany Association Sheikh Faisal bin Qatar’s investment in Germany relations creating hundreds of opportunities offered by the regional reasons, which were Business and Investment Forum Qassim Al Thani signed the now stands at a significant economies of the two countries into agreements and pro- imposed on us, leading to a in the presence of German Chan- agreement on the Qatari side, €35bn. grams to be implemented by the public and private sectors. short-lived drop in Qatar’s cellor Angela Merkel at Maritim while CEO of the Association of H H the Amir said the rela- imports from various Hotel. German Chambers of Industry tionship between Qatar and countries.” H H the Amir and German and Commerce Martin Germany has been strengthened especially in the field of trade, H H the Amir said that the Chancellor attended yesterday Wansleben signed it on the over the past several years, investment and construction. volume of trade exchange →CONTINUED ON PAGE 3 Qatar strategically built its way out of blockade SATISH KANADY agencies projected Qatar’s growth will Minister said, stressing that a new law THE PENINSULA be the highest in the region at 2.8 will streamline investment procedures percent before expanding to 3 percent in light of the many promising BERLIN: Qatar’s strategic repositioning in 2019-2020. investment opportunities in the in terms of trade and investments have The blockade also helped accelerate logistics, food security, education, helped the country move ahead despite Qatar’s development plan. The country health, tourism and sports sectors. the unprecedented blockade imposed realised that it really wanted to H E Ali shareef Al Emadi, Minister on it by some neighbouring countries, transform and accelerate its economy. of Finance, said since the since the H E Sheikh Ahmed bin Jassim Al Thani, Qatar opened up the market 100 percent blockade imposed on Qatar in June Minister of Economy and Commerce, for foreign investors, the development 2017, all the key financial and economic and H E Ali Sheriff Al Emadi, Minister of tax-haven economic free zones are indicators for Qatar were positive. “If of Finance said in a two separate panel fast progressing, PPP is offering huge you look at the performance of Qatari discussions held during the Qatar- opportunities to the private players in economy in 2018, the GDP has grown, Germany Business and Investment health, education and tourism sectors. banking profitability is up. N the post Forum here yesterday. “Qatar is very well connected to the blockade period, Qatar Stock Exchange Sheikh Ahmed said the country region and internationally, after the (QSE) grew by 15 percent, he said. realised there is huge untapped blockade. We wanted showcase these Participating in the panel dis- Sheikh Dr Khalid bin Thani bin Abdullah Al Thani and Minister of Municipality and potential in the neighbouring countries vast opportunities to the German cussion QDC CEO Yousef Mohamed Al Environment H E Mohamed bin Abdullah Al Rumaihi during the Qatar-Germany and identified fresh destinations. Qatar private sector and others in Qatar”, Jaida said QFC’s mandate of attracting Business and Investment Forum. realised it has access to 400 million Sheikh Ahmed said. increasing foreign direct investment is population around and identified the Elaborating on the legislative and a natural starting point for further under tapped markets in five destina- legal frameworks that Qatar has cooperation with German firms looking Sheikh Dr Khalid hails Qatar-Germany ties tions including Turkey, Pakistan, India, adopted to stimulate investments, the to gain entry into the growing Qatar and Iran. Minister said a significant number of economy. THE PENINSULA He said that the Qatar-Germany Business The Minister said Qatari economy laws and regulations have been revised He said Qatar and Germany have and Investment Forum is part of ongoing grew at significant rate during the to keep abreast of political and eco- a far reaching relationship that pro- DOHA: Sheikh Dr Khalid bin Thani bin efforts to develop these relations and push blockade period. “Despite the lower oil nomic developments in the region, as vides a great foundation for future Abdullah Al Thani, Second Deputy to the them to higher levels, with continued support price in 2016-2017, we met our 2017 well as to meet the requirements of the growth. Partnering with German busi- Chairman of Qatari Businessmen Associ- from the leadership of both countries. “Amir target. Our total export increased many Qatar National Vision 2030 and to nesses has continued to flourish over ation (QBA) and Chairman of the Board of H H Sheikh Tamim bin Hamad Al Thani’s times during the blockade period. encourage domestic and foreign the years, with 112 joint Qatar-German Directors and Managing Director of Qatar announcement to invest €10bn int German During the blockade year all the investments. businesses with a capital of $339m. International Islamic Bank (QIIB) stressed economy reflects the importance of trade and economic indicators were positive for “For instance, Foreign Investment These are but a few examples of the the importance of further strengthening economic relations between Doha and Berlin.” Qatar. The inflation rate was signifi- Law No. 13 of 2000, enables foreign long-standing dynamic economic rela- of relations between Qatar and Germany cantly low at 0.5 percent compared to investors up to 100 percent ownership tionship that exists between Doha and especially in field of economy. →CONTINUED ON PAGE 3 2.5 percent in 2016. International in numerous economic sectors,” the Berlin. 02 HOME SATURDAY 8 SEPTEMBER 2018 Amir reviews strategic ties with German leaders CLOCKWISE FROM TOP LEFT: Amir H H Sheikh Tamim bin Hamad Al Thani with the President of Germany Dr Frank-Walter Steinmeier at the Presidential residence Bellevue Palace in Berlin. H H the Amir with Angela Merkel, Chancellor of Germany. H H the Amir and Angela Merkel witnessing the signing of documents. Officials during the Qatar-Germany Business and Investment Forum in Berlin. H H the Amir with the Minister of Foreign Affairs of Germany, Heiko Maas. H H the Amir with German Minister of Economy and Energy, Peter Altmaier. THE PENINSULA latest regional and international cultural and economic fields. dialogue for the stability of the humanitarian situation in Germany, on the occasion of developments, and stressed in In this context, the German region and the adoption of Yemen, Palestine and Syria. H H Qatar Germany Business and DOHA: Amir H H Sheikh Tamim that regard on the importance of Chancellor thanked H H the Amir political ways to resolve all the Amir also met the German Investment Forum. bin Hamad Al Thani met having stability in the region. The for the confidence of the State of differences. Minister of Economy and Energy H H the Amir left Berlin yes- yesterday morning with the meeting was attended by a Qatar in the German economy. H H the Amir also met with Peter Altmaier, on the sidelines terday evening, after a three-day President of the Federal Republic number of Their Excellencies The two sides also exchanged Minister of Foreign Affairs of the of the Qatar Germany Business working visit to the friendly of Germany Dr Frank-Walter members of the official dele- views on the latest regional and Federal Republic of Germany, and Investment Forum in Berlin.
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