Qatar Financial Centre (QFC) has showcased the country and its economic prospects in Germany as part of a strategy to attract more foreign direct investment (FDI).
"Qatar continues to be an attractive market for international investment and economic development, and the Global Business and Markets exhibition was an excellent opportunity for the QFC to share these opportunities with European decision-makers," QFC Authority managing director Sheikha Alanoud bint Hamad al-Thani told the recently concluded international exhibition in Hanover, Germany.
The QFC joined the Qatar National Pavilion at the exhibition. More than 5,000 representatives from government departments, international chambers and global business attended, where they learned about investment and economic opportunities in Qatar, as well as how the QFC can help them expand.
Relations between Germany and Qatar have continued to strengthen over the past few years with Germany emerging as the 12th largest trading partner for Qatar with 2.4% of the total value of trade exchange. Trade between the two countries reached QR9.5bn in 2016 and German companies in Qatar are playing an important role in cementing the two countries' economic relations.
At present, there are 27 companies fully owned by Germans operating in Qatar with a total capital of QR1.3bn, in addition to 112 companies in partnership with Qataris working with a total capital of QR1.1bn. These are operating in the fields of railway development, trading, contracting, services, communication and infrastructure.
The QFC’s participation is in line with its efforts to promote Qatar as a lucrative destination for companies looking to expand their operations to the Middle East and tap into Qatar’s multi-billion dollar infrastructure programme. Currently, 96 European-owned firms are registered under the QFC, which had last year said that it plans to triple FDI inflows to more than QR200bn by 2022.
Other attendees under the Qatar National Pavilion umbrella included the Ministry of Economy and Commerce, the Ministry of Energy and Industry, Qatar Chamber, Manateq, Qatar Rail and the Supreme Committee for Delivery and Legacy.
