Qatar is looking to pump in Germany’s economy billions of dollar of investment as it seeks to deepen its foothold in the European Union (UE) economic powerhouse.
A report by Handelsblatt, a German newspaper specialized in economic news, revealed that the tiny Gulf country is targeting German medium size companies and newspapers for investment drive.
Diplomatic and corporate sources told the media Doha, through its Investment Authority (QIA) and the private sector, will direct investment towards “Mittelstand” manufacturing companies.
Qatar is already present in Germany through shareholdings in several German entities including Volkswagen (VOWG.DE), Deutsche Bank (DBKGn.DE), Siemens (SIEGn.DE), Hochtief (HOTG.DE) and SolarWorld (SWVKk.F).
The information about Qatar’s new investment interest in the EU’s top economy has been confirmed by the Gulf country’s Finance Minister, Ali Sharif al-Emadi.
“We see Germany as a key player in the world economy and are looking at the German market with great optimism,” the Qatari official told Handelsblatt in an interview.
“Our delegation will be announcing big new investments,” he added.
The two countries are to hold a joint Business and Investment Forum in Berlin on Sept. 7.
