QBA Signs Mou With German NUMOV To Promote Investment

Doha, Qatar: The Qatari Businessmen Association (QBA) met with a German delegation yesterday from the German Near and Middle East Association (NUMOV), during which a Memorandum of Understanding (MoU) was signed between the two parties to discuss and promote investment opportunities in both countries. The event was held in the presence of Ambassador Hans-Udo Muzel.

From the Qatari side, the meeting was attended by Sheikh Faisal bin Qassim Al Thani, Chairman of QBA; board members Sheikh Nawaf bin Nasser Al Thani and Saud Al Mana; and QBA members Sheikh Mansour bin Jassim Al Thani, Salah Al Jaidah, Khalid Al Mannai, Nasser Al Haidar, Maqbool Khalfan, Hakan Ozmir, and Ihsan Al Khaimi. Also Sheikh Turki bin Faisal Al Thani, Managing Director of Al Jazi Real Estate Investment, attended the meeting as well as Sarah Abdullah, QBA Deputy General Manager.

At the beginning of the meeting, Sheikh Faisal bin Qassim Al Thani emphasised 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 in addition to technological modernisation.

Sheikh Faisal 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.

For his part, H E Ambassador Hans-Udo Muzel emphasised the strong economic relations between Doha and Berlin, highlighting the significant role of trade and investment. He noted that Qatar is Germany's third-largest trading partner in the Gulf region and that Qatar-through the Qatar Investment Authority and private investors-holds significant stakes in major German companies such as Volkswagen, RWE, Deutsche Bank, and CureVac, among others. The Ambassador also stressed the close cooperation between German companies and businesses affiliated with QBA members in sectors such as luxury automobiles, Siemens, technology, and tourism. He also pointed out the value that Qatari investments bring to the German economy.

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.

QBA signed a Memorandum of Understanding with the German Near and Middle East Association (NUMOV). The agreement was signed by Sheikh Faisal bin Qassim Al Thani, Chairman of QBA, and Joann Erich Wilms, Chairman of NUMOV.

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. 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.

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