Prime Minister Pham Minh Chinh shared with major Qatari businesses the outcomes of his meetings with the Emir, Prime Minister, and other leaders of Qatar. He stated that both sides acknowledged the positive development of bilateral relations, but economic relations have not yet matched the political and diplomatic ties.
The leaders agreed on several crucial matters, especially enhancing cooperation in all fields, with a particular focus on economic, trade, and investment cooperation as a key pillar. They agreed to negotiate and work towards the early signing of a free trade agreement and intergovernmental agreements related to visa policies, investment, import and export, and more.
Both countries have played a constructive role, and the development of economic relations is now in the hands of their businesses, through specific cooperation projects. Prime Minister Chinh emphasized that Vietnam is keen on attracting investments in areas where Qatari businesses excel, such as oil and gas, energy (especially LNG and nuclear power), digital transformation, emerging industries (including databases, telecommunications infrastructure, AI, cloud computing, IoT), real estate projects (industrial park infrastructure, urban areas, housing), trade and retail services, tourism, and large-scale infrastructure projects (highways, airports, seaports, high-speed railways, and urban railways).
The Prime Minister invited Qatari businesses to invest in large-scale projects in Vietnam, offering opportunities for technology transfer, human resource training, and connecting Vietnamese businesses to global supply chains.
He assured investors that Vietnam is committed to creating a favorable business environment, safeguarding the legitimate rights and interests of businesses investing in the country, and improving hard, soft, and social infrastructure to reduce input costs and enhance the competitiveness of goods.
Additionally, Vietnam is working on refining its institutional system and policies to enhance transparency and flexibility, reducing administrative procedures to lower compliance costs, and ensuring fair business practices with a spirit of “harmonious interests and shared risks” and a balance between state, people, and business interests.
The country is also focused on training high-quality human resources to meet the demands of investment, production, and business operations. Moreover, Vietnam is dedicated to maintaining political stability and social order, providing investors with peace of mind for long-term investment in the country.
The Prime Minister shared a list of Vietnam’s priority investment projects with the Qatari business community and suggested organizing a Vietnam-Qatar Business Forum, either in Vietnam or Qatar, to connect businesses from both countries. This forum would facilitate the exploration of investment and business opportunities and lead to concrete cooperation and investment projects.
For his part, Sheikh Faisal bin Qassim Al Thani, Chairman of the Qatar Business Association, stated that through surveys, research, and the experiences of Qatari businesses in Vietnam, Qatar recognizes the significant potential for cooperation and investment in the country. Especially with the support and facilitation of the Vietnamese government, Qatari businesses can promote investment and trade activities in Vietnam and increase the presence of Vietnamese goods in the Qatari market.
Expressing his agreement with the Prime Minister’s opinions, the Chairman of the Qatar Business Association welcomed the proposal to organize the Vietnam-Qatar Business Forum soon. With a diverse range of businesses in fields such as energy, manufacturing, agriculture, and tourism, the Association will sign a Memorandum of Understanding (MoU) with Vietnam to gradually implement the Prime Minister’s suggestions.
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