German Industries' Interest, Commitment In Qatar 'Strong And Impressive', Says AHK Gulf Official
Date
2/15/2023 2:03:12 PM
(MENAFN- Gulf Times) The interest and commitment of German industries in Qatar have always remained“strong and impressive,” according to an official of the German industry and Commerce Chamber in the Gulf Region (AHK Gulf).
The significant importance placed by German companies on Qatar is mirrored by“strong Qatari commitment” towards Germany, either as an investor or as a business or joint venture partner, AHK Gulf Regional CEO Oliver Oehms told Gulf Times in an exclusive interview.
“For instance, AHK has been collaborating very closely with the Qatari Businessmen Association (QBA) and Qatar Chamber for many years. We have been operating in Qatar for the past 20 years with our standalone office, which, at the same time, has been supporting the German Business Council in Qatar,” Oehms explained.
On Qatar's pledge to invest €10bn in Germany as announced by His Highness the Amir Sheikh Tamim bin Hamad al-Thani in 2018, Oehms noted that there are several German blue chip companies that have“very strong and growing Qatari engagement.”
“It has been known that Qatar has been a very strong partner in Volkswagen and Deutsche Bank, and other German companies. We are very happy that one of Germany's leading energy providers, RWE AG (RWE), is being supported by Qatar Investment Authority (QIA), which agreed to invest €2.42mn for its accelerated 'Growing Green' strategy,” he said.
Oehms also said Qatar has investments in Germany's automotive, banking, and energy sectors, including Hapag-Lloyd AG, a German international shipping and container transportation company, as well as in German pharmaceutical companies.
On potential up-and-coming sectors that may encourage future investments and partnerships, Oehms said:“Looking into the portfolio of German industry, machinery is still a strong sector, which is contributing significantly to the development of German exports, which is relatively immune to the ups and downs of international market developments.”
“If you look at the economic fundamentals, I think the German industry continues to be a safe haven also for Qatari investments,” he noted.
Asked to give an overview of German companies operating in the Gulf, with a special focus on Qatar, Oehms said:“The German portfolio in the Gulf region, in general, is quite broad and deep; it has been developing very dynamically for the past two to three years for various reasons. But certainly, the most important reason is the energy crisis in Europe.”
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