Qatar to invest $10.85 billion in French start-ups

The deal covers various sectors such as energy, artificial intelligence, health, and hospitality
Qatar to invest $10.85 billion in French start-ups
Qatar and France have developed solid strategic relations. (Photo Credit: QNA)

During his visit to Paris, Amir Sheikh Tamim bin Hamad Al Thani announced that Qatar intends to increase its investment in France to 10 billion euros ($10.85 billion) over the upcoming years. The investment will be directed towards strengthening strategic economic partnerships between the two countries from 2024 to 2030.

Read more: Qatar names France’s TotalEnergies for world’s largest liquefied gas project

According to a statement from Elysée, the Qatari investments will mainly target start-ups and investment funds in sectors such as energy, artificial intelligence (AI), health, and hospitality.

The announcement was made during a meeting between Sheikh Tamim and French President Emmanuel Macron.

As part of the state visit, Qatar’s Prime Minister and Minister of Foreign Affairs, Sheikh Mohammed bin Abdulrahman Al Thani, also accompanied the delegation and Sheikh Tamim was honored with the Legion of Honor award, bestowed upon him by Macron, with the rank of “Chevalier.”

In October 2023, QatarEnergy agreed to supply France’s TotalEnergies with natural gas for 27 years.

Qatar announced it will supply 3.5 million tons of gas a year under the deal. This followed two agreements with Total in 2022 for a share of the Gulf state’s huge North Field gas expansion project.

For more news on the economy, click here.

The stories on our website are intended for informational purposes only. Those with finance, investment, tax or legal content are not to be taken as financial advice or recommendation. Refer to our full disclaimer policy here.