Baku, June 9, AZERTAC
France is Qatar’s second destination for European investments, after the United Kingdom, with assets worth more than 25 billion euros ($26.7 billion), according to a study published on Wednesday.
The Gulf state owns 42 companies in France through direct ownership or companies managed mostly by its sovereign wealth fund, the Qatar Investment Authority, according to a study conducted by Qadran, the French-Qatari economic department, jointly with the HEC Junior Conseil on the development of Qatar. Economic relations and diversification.
Aside from the acquisition of football club Paris Saint-Germain, Qatar’s footprint is spread almost entirely across the French economy, according to the study. This includes portfolio investments or stakes in companies such as LVMH (Moet Hennessy Louis Vuitton), Balmain, Valentino, Le Printemps, TotalEnergies, Airbus, Accor and beIN Sports. In addition to companies, the non-hotel sectors and luxury hotel properties are highly valued investments by Qatari players.
According to the study, Qatar’s holdings in real estate investments and financial activities are 7.1 billion euros ($7.6 billion), 4.2 billion euros ($4.5 billion) in retail accounts, 3.4 billion euros ($3.6 billion) in transport and tourism, and 2.3 billion. 1 billion euros ($2.4 billion) for communications and media, AZERTAC reports to Anadolu Agency.
Qatar-operated companies and holding companies have generated huge profits over the past 14 years, increasing their contribution to France’s GDP from 2.13 billion euros in 2014 to 3.07 billion euros in 2019, with an annual growth rate of 7.5%. , according to the study.
Doha’s investment in France has mainly been around since 2005, when the Gulf state began reducing its dependence on hydrocarbons by diversifying its assets abroad.
The study added that Qatar finds in France fertile ground for generating financial returns, establishing its companies and positioning itself as a major player in tourism on a global scale. The study noted that both countries complement each other, as “France seeks capital inflows and jobs to reduce its trade deficit, and () Qatar is a strong provider of capital abroad.”
On the other hand, France has 200 multi-sector institutions in Qatar, which is the fourth recipient country of French FDI, worth 1.4 billion euros ($1.5 billion) in the Middle East. French companies are heavily involved in the country’s major projects, particularly in infrastructure, transport and energy, and have also mobilized aggressively to support Qatar in its preparations for the 2022 World Cup.
The 2022 FIFA World Cup in Qatar has also provided new investment and trade opportunities for the two countries. France and Qatar have also established a partnership regarding the security of the global football event.
AZERTAG.AZ :Qatari investments are flowing into France, from real estate to sports
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