AFP reported that gas rich Qatar, already heavily involved in car giant Volkswagen and construction group Hochtief, is eyeing further investments in Germany.

Mr Yussef Hussein Kamal economy and finance minister of Qatar said that "We've only just begun in Germany." He added that the emirate has its eye on the IT sector and the small and medium-sized firms that form the backbone of Europe's top economy.

Mr Kamal said that "We have already begun negotiations with some small and medium firms. We have to import everything, including construction expertise. This is an opportunity for German firms."

Earlier this month, Qatar bought a 9.1% stake in Hochtief, a company which is the subject of a takeover bid from Spanish rival ACS. Hochtief is now eyeing some juicy contracts as Qatar prepares to host the 2022 Soccer World Cup.

Qatar holds some 17% of Volkswagen. Outside of Germany, Qatar owns 26% of British supermarket chain Sainsbury and 100% of Luxury department store Harrods.

(Sourced from AFP)