QBA Signs Mou With German NUMOV To Promote Investment

Doha: The Qatari Businessmen Association (QBA) signed on Monday a Memorandum of Understanding (MoU) with the German Near and Middle East Association (NUMOV) to enhance cooperation. The signing took place in the presence of several members from the QBA Board of Directors and NUMOV members.

The agreement was signed by QBA Chairman HE Sheikh Faisal bin Qassim Al-Thani and Chairman of NUMOV, Joann Erich Wilms. The signing occurred on the sidelines of a visit by a German delegation, led by CEO of the TUV NORD Group, Silvio Konrad, to the QBA.

The MoU aims to strengthen economic relations between the two countries by promoting trade, industry, investment, and technical cooperation among the members of both organizations.

Through this agreement, both sides will work to identify suitable investment opportunities in Germany and Qatar and present them to affiliated companies.

At the beginning of the meeting, HE Sheikh Faisal bin Qassim Al-Thani emphasized the importance of cooperating with Germany as a trusted and strategic partner for Qatar. He noted that German companies have played a vital role in supporting Qatar's industrial development and technological modernization.

His Excellency also pointed out that the Qatari private sector holds various investments in Germany across sectors such as tourism, retail, and technology.

He further noted that QBA members have established several partnerships with German companies in the local market across diverse productive economic sectors.

He added that there are promising opportunities for Qatari German cooperation in numerous sectors, including renewable energy, sustainable infrastructure, logistics, education, smart technologies, pharmaceuticals, and more.

Silvio Konrad, head of the German delegation, stated that Germany enjoys a long-standing and robust relationship with Qatar. He highlighted that TUV NORD Group has numerous partners in the Middle East, including in Qatar, which opens the door to expanded partnerships - particularly in the technology sector.

He added that the German delegation includes representatives from leading companies in the fields of information technology, artificial intelligence, communications, energy, and resources.

These companies are eager to explore new opportunities in Qatar and the region and to strengthen economic ties with the Qatari private sector.

On the sideline of the meeting, QBA member Salah Al Jaidah held discussions with NUMOV members to present investment opportunities in Qatar in line with the country's Vision 2030. He emphasized Qatar's strategic focus on building a knowledge-based and tech-driven economy.

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