Qatar’s pledge to pour €10bn worth of investments into Germany over the next five years will help spur economic development and private sector growth for both countries, according to Alfardan Group president and CEO Omar Hussain Alfardan.
Speaking to Gulf Times on the sidelines of the ‘9th Qatar-Germany Business and Investment Forum’ held recently in Berlin, Alfardan stressed that the fresh round of Qatari investments for Germany will offer new opportunities “from all perspectives".
“From the automotive industry to the hospitality sector, I think there is a lot we can learn from the partnership we are looking for in Germany, especially with the 2022 FIFA World Cup coming to Qatar.
“I think there is a lot to learn from German manufacturers – they are superb and are leaders in all things related to technology whether for security, stadiums, and logistics. Not only will we learn from them but there are many areas that Qatar could co-operate with Germany,” Alfardan stressed.
He also pointed out that the impact of the new investments from Qatar would be “reciprocating investments of bilateral nature,” adding that he is confident that “these kinds of investments will continue".
“We have been participating in the forum for the past 10 years, and in every forum that Qatar has organized in Germany. The presence of His Highness the Amir Sheikh Tamim bin Hamad al-Thani and German Chancellor Dr. Angela Merkel has added huge support to this event.
“We think this €10bn investment will enhance the relations of the two countries. Germany is a very vibrant economy and from our perspective, it is one of the most rewarding and well-structured economies in Europe,” Alfardan emphasized .
Alfardan’s views were reflected by Dr. Ulrich Nussbaum, Germany’s State Secretary at the Federal Ministry for Economic Affairs and Energy, who spoke at one of the forum’s panel discussions.
He said Germany had “promising” investment sectors that need Qatari investments to stimulate growth, particularly in the small- and medium-sized enterprise (SME) sector, which is regarded as the backbone of the German economy.
According to Alfardan, the group has been associated with the German business sector, particularly with firms such as BMW for the past 25 years. He said Alfardan Group also enjoys strong business ties with Continental, Germany’s leading automotive manufacturing company.
Asked about expansion plans for Qatar and abroad, Alfardan said the group has a strategic expansion plan for the next five and 10 years in the country, Europe, and the Gulf region, specifically in Oman.