Banking & Finance Qatar commits $11bn for French startups and funds By Pramod Kumar February 28, 2024, 6:38 AM Reuters/Gonzalo Fuentes French president Emmanuel Macron greets Qatar's Emir Sheikh Tamim bin Hamad Al Thani in Paris Qatar will invest €10 billion ($10.9 billion) in French startups and investment funds as part of a new strategic partnership. The announcement was made in a French-Qatari joint communique released during Qatar Emir Sheikh Tamim Bin Hamad Al Thani’s state visit to Paris. The investments will focus on energy transition, semiconductors, aerospace, artificial intelligence, health, tourism and creative industries. Qatar’s new $1bn fund to propel global tech growth Qatar’s new LNG discovery to expand output by 85% Saudi and Qatari funds bid for new Egyptian project French President Emmanuel Macron and the Qatari emir also plan to build on the energy partnership between the two countries, as Qatar has been supplying LNG to France since 2009. In October 2023, TotalEnergies and state-owned QatarEnergy signed a long-term liquefied natural gas supply agreement for 27 years, starting from 2026. Bilateral trade has reached more than €6.4 billion over 2022-2023, with the two leaders seeking to strengthen their partnership in economy, trade and investment. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
