UAE plans to invest ten billion euros in Bavaria

Berlin. According to Prime Minister Markus Söder, the United Arab Emirates (UAE) want to invest ten billion euros in Bavaria. The Free State has concluded its own investment agreement with the Gulf state, Söder announced on Friday during the visit of UAE President Sheikh Mohammed bin Sajed al-Nahjan to Munich.

Together with the state government and the Bavarian Business Association, the investments would be made in the key future sectors of aviation, space travel, artificial intelligence (AI), defense, but also bio- and life sciences and automobiles, Söder announced. The money should be invested in Bavaria over the next ten years, which is a very good sign for future industries, start-ups and large companies. “That brings cash, that brings orders, that also brings economic growth,” said the Prime Minister.

The day before, the UAE President had signed an investment agreement with the federal government in Berlin for the whole of Germany worth 40 billion euros - so a quarter of these investments are going to Bavaria. Söder said that it was important to look for new partners, especially because of the upheavals in the international markets. He wants to travel to the UAE and the Gulf region this year.