12 July 2022, Doha – Qatar: The Qatar Financial Centre, a leading onshore financial and business centre in the region, in collaboration with the Embassy of Qatar in Germany, recently hosted breakfast roundtables in Berlin and Munich to promote the QFC structures and attract leading German companies and startups to incorporate in Qatar.
The roundtables are part of the QFC outreach activities in Europe to promote Qatar as the ideal location for expansion in the Middle East and the QFC as the choice platform to operate a business in the Qatari market. During the events, the QFC highlighted the vast investment prospects in Qatar’s robust and resilient market and opened an opportunity for German and Qatari business leaders to network and identify common interests for long-term collaborations.
H.E. Sheikh Abdulla Bin Mohammed bin Saud Al-Thani, Ambassador of Qatar to Germany, and Radi Bin Saweed Al Ajmi, Consul General, General Consulate of the State of Qatar in Munich, addressed the high-level guests accentuating the strong bilateral ties between the Central European Country and the Gulf State.
The roundtables also featured eminent speakers from leading companies operating in Qatar who discussed their rewarding experiences in the Gulf State and working with the QFC. The speakers included Dr Carsten Rolle, Head of Department Energy and Climate Policy, BDI; Dr Fabian Engels, Senior Partner, Roland Berger; Roland Bischof, Managing Director, Presented by GmbH; Emmanuel Thomassin, Chief Financial Officer, Delivery Hero; Francisco de Sousa, Managing Director, Talabat Qatar; Bertram Brossardt, Chief Executive, Bavarian Industry Association; Benedikt Rickmers, Senior Partner, Roland Berger GmbH; and Michael Falter, Head of Dispute Resolution - Partner, Deloitte.
Germany and Qatar have solid bilateral relations, spanning almost 50 years. The volume of trade exchange between the two countries in 2021 exceeded $3 billion. While Qatar remains one of the largest foreign investors in Germany with an estimated investment of about €25 billion, more than 300 German companies are helping develop the Qatari economy, operating in vital sectors, such as energy, construction, services, communications, medicine and other fields.
Germany is the fourth-largest economy in the world and the largest and most important market in the European Union, with a population of more than eighty-two million. Despite the current billion-dollar trade volume between Germany and Qatar, which is currently one of the strongest and fastest-growing economies worldwide, an abundant investment opportunity between the two countries remains untapped.
Leading the initiative, Sheikha Alanoud Bint Hamad Al-Thani, Deputy CEO and Chief Business Officer, QFC, said: “Germany and Qatar have long enjoyed rewarding bilateral relations, strengthened by trade agreements, active diplomatic engagements, and an array of new business opportunities. This initiative demonstrates the QFC’s commitment to building on these strong ties by helping German companies explore the vast number of potential investment opportunities in Qatar generated by its rapid diversification and the $20 billion economic boost by the FIFA World Cup 2022. Having received a strong response from our guests, we are eager to see new alliances and new businesses entering Qatar and setting up on the QFC platform.”
The success of the events was marked by the attendance of over 65 C-level executives from notable German companies operating in various sectors, including tech and digital, venture capital, and professional business services companies and the participation of leaders from German industrial and business associations. Through this outreach initiative, QFC fostered relations with QFC partners in Germany, built relations with leading venture capital companies to encourage startups in their portfolio to expand in Qatar, and attracted several German tech companies to incorporate in Doha.
On Qatar’s market climate, H.E. Sheikh Abdulla Bin Mohammed bin Saud Al-Thani, Ambassador of the State of Qatar to Germany, said: “Investors can take advantage of Qatar’s strategic geographical location as a gateway between the East and West. The country maintains a strong fiscal position, with a projected growth of 3.9% this year and 4% in 2023 and enables international investors to benefit from a seamless flow of trade and capital with a future-ready digital infrastructure. Investors also benefit from Qatar’s global connectivity through Hamad Port, the world’s best Hamad Airport, Qatar Airways and its cargo carrier.”
Stressing the extensive support Qatar offers German companies interested in the market, Radi Bin Saweed Al Ajmi, Consul General, The General Consulate of the State of Qatar in Munich, said: “We continually encourage companies in Munich to reach out to the Consulate of Qatar in Munich should they need more information about expanding in Qatar. We can facilitate the establishment of their business in Qatar by connecting them with the Qatar Financial Centre.”