CLOCKWISE FROM TOP: Nasser H Al Ansari, JRE Chairman; Dr Abdulbasit Al Shaibei, CEO of QIIB; Joseph Abraham, Commercial Bank Group CEO, and Dr R Seetharaman, Group CEO, Doha Bank.
DOHA: Qatar’s corporate honchos have hailed the successful outcome of the just-concluded Qatar-Germany Business and Investment Forum.
Speaking to The Peninsula, on the sidelines of the event, the heads of top banks and the real estate industry leaders affirmed the Forum opened a new chapter in the long-standing bilateral relation of Qatar and Germany, world’s two fastest growing economies.
Just Real Estate (JRE) CEO Nasser H Al Ansari told The Peninsula that the Forum has helped open new market in both Qatar and Germany. He foresees a further strengthening of relationship between Qatar and Germany.
“Putting such a huge investment will help attract more German investors to Qatar and Qatari investors back to Germany. This will also give an added value of know-how. I am very much pleased by the announcement of His Highness to inject ¤10bn into the German economy. Hopefully this will also give the Qatari businessmen to come and participate along with the government the individual German investors.”
On German Chancellor Angela Merkel’s statement about Qatar’s potential support to Germany’s ongoing energy diversification plans Al Ansari said : “I think the growth of German economy is an opportunity for us to add value to their energy sector.”
Dr R Seetharaman, Group CEO, Doha Bank said: “It’s an extraordinary partnership between Qatar and Germany in terms of bilateral relationships, trading and investments; and banking and finance.”
He said Deutsche Bank has a major role to play in even in the last sovereign bond sale; and Doha Bank is also there for seven years in promoting the bilateral banking business between these two great nations. His Highness’ announcement is extraordinary in terms of diversification partnership.
Qatar can invest in food security in Germany and vice versa. Clearly, sustainable revenue stream is what Qatar is looking at. Germany can also invest in buying out LNG from Qatar.
“There are huge opportunities in education, health or renewable. Qatar can invest the €10bn in multiple sectors and multiple forms in Germany.”
“Qatar also have bigger opportunity for non hydrocarbon investments in Germany whether it is investment partnership or joint ventures, education or healthcare or even art.It’s a huge relationship. A friend in need is a friend indeed that is precisely the characterisation of the relationship between these two logical partners,” Seethraman added.
“The announcement that Qatar is planning to invest €10bn in Germany over the next five years is good news for Qatar’s financial sector,” commented Joseph Abraham, Commercial Bank Group CEO.
Efforts to increase direct investment through incentives to companies from around the world, including Germany, are also welcomed, he said.
“Germany is Europe’s largest economy and a long-term trading partner of Qatar. Strengthening economic ties will increase opportunists for trade and investment flows between the two countries. Commercial Bank is committed to supporting Qatar’s economic development and sustainability in line with the Qatar National Vision 2030. We believe that the positive news from Berlin over the weekend will help the country to meet these goals,” Abraham added.
Earlier, in a statement to the media, Dr Abdulbasit Al Shaibei, CEO of QIIB said there are many promising sectors in the German economy, led by the real estate and hospitality sectors. He added that the industrial sector was also a known for its strength. The Qatari side is seeking a real partnership with its German counterpart that truly reflects the strength of the partnership.
