Doha – Hannover / 6:08 PM, Tuesday, April 18, 2023
The State of Qatar seeks to attract German companies to the “International Hannover Industrial Fair 2023”
The State of Qatar’s pavilion participating in the Hannover International Industrial Fair 2023 organized a joint discussion session, in which a number of experts, specialists and industry leaders in the country participated, including representatives of the Investment Promotion Agency, Qatar Financial Center, Free Zones Authority – Qatar, and Qatar Science Park technology.
The discussion session, which was organized in coordination between the Investment Promotion Agency in Qatar and the German Federal Association for Small and Medium Enterprises (BVMW), dealt with available investment opportunities in the manufacturing and technology sectors, and ways to enhance cooperation in these two sectors, as well as discussing developments in the digital landscape in the State of Qatar, and ways to benefit from them for the future.
Companies seeking to establish or expand their business in Qatar.
His Excellency Sheikh Sultan bin Rashid Al Khater, Undersecretary of the Ministry of Commerce and Industry, praised, during the opening speech of the session, the close trade and investment relations between Qatar and the Federal Republic of Germany, pointing out that Germany represents Qatar’s fifth largest trading partner, with the volume of trade exchange between the two countries amounting to about $1.8 billion per year.
In 2022, already 323 German companies are operating in Qatar and play an important role in supporting the comprehensive development process in the country. He explained that the State of Qatar has worked, in recent years, to develop laws and issue new legislation through which it sought to support foreign direct investment and provide an attractive business environment. These legislations also helped strengthen the country’s position as a preferred destination for foreign investors looking to enter the region. In addition to providing job opportunities and promoting the sustainable economic development of the country.
In the same context, HE Sheikh Ali bin Al-Waleed Al-Thani, CEO of the Investment Promotion Agency in Qatar, indicated that the advanced manufacturing and industrial technology sectors in Qatar provide great investment opportunities, and global events, such as the Hannover International Industrial Fair, provide a platform for displaying these sectors on The global business community, pointing out that Qatar’s participation in the exhibition highlights its commitment to economic diversification and innovation, and its aspiration to build new partnerships and aspects of cooperation that will support the growth and development process in the country.
In turn, Sheikh Suhaim bin Saud bin Fahd Al Thani, Director of International Business Relations at the Qatar Free Zones Authority, stressed that the State of Qatar offers many promising opportunities, and the Free Zones Authority also contributes to enhancing the country’s continuous growth process and its efforts in the field of economic diversification, indicating that the free zones Al Hurra provides international companies with a flexible platform that allows them to take advantage of growth opportunities and explore the latest technology solutions.
For his part, Majid Al-Ammari, Business Development Assistant at the Qatar Financial Center, stressed the center’s commitment to supporting investors, pointing out that it contributes significantly to the efforts of economic diversification in Qatar, by attracting various companies in terms of activities and business volume, ranging from start-ups to companies. It also works to promote the adoption of innovation and technological solutions to support Qatar in consolidating its position as an ambitious global center for business and trade.
In addition, Markus Jerger, CEO of the German Federal Association for Small and Medium Enterprises (BVMW), highlighted the growing relations between his country and the State of Qatar, noting that small and medium German companies are the backbone of the German economy, and expressed his confidence that the BVMW association’s office* for the GCC countries in Doha will help in launching many successful joint projects between Qatar and Germany in the coming years, which will support the economy in the two countries, and strengthen relations with Qatar as an important partner for Germany.
( * The BVMW German Mittelstand office in Doha, Qatar is the latest addition to the BVMW network of over 400 BVMW offices globally covering 125 international markets. ) more…
On a related note, Dr. Dany Ramadan, investment manager at Qatar Science and Technology Park, a member of Qatar Foundation, said that Qatar Science and Technology Park is the only free zone in the Middle East and North Africa that focuses on targeting technology companies that rely on research, development and innovation, and provides them with many benefits. Advantages, indicating that Qatar Science and Technology Park’s unique location within the Qatar Foundation system, which includes many academic and research institutes, helps cooperation in multiple sectors and disciplines that fall under the research, development and innovation sector.
It is worth noting that the Hannover International Industrial Fair was launched in 1947, and it is one of the largest trade fairs in the world in the field of industrial technology, and a platform for displaying the latest innovations and trends in the manufacturing and technology sectors. It is an economic event that attracts 6,500 exhibitors and 250 visitors annually from industry leaders and experts. and companies from all over the world, and provides the opportunity to communicate, interact and explore potential investment opportunities.
The industrial technology sector in Qatar is witnessing great growth, as it is home to one of the 14 advanced manufacturing centers in the world. Conducive environments for technological innovation led by government institutions.
It is noteworthy that Qatar’s business-friendly environment does not impose any customs duties or other duties on imports of machinery and equipment, which makes it an attractive destination for investors. In addition, the strategic location of Qatar in the Middle East region is ideal for shipping goods and providing logistical services, and these factors have contributed to the growth of this sector, noting that the field of industrial technology in Qatar is poised to continue its success in the coming years.
Google translation from Original publications.