PM Pham Minh Chinh: Vietnamese-Qatari Enterprises Drive Bilateral Economic Relations

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Prime Minister Pham Minh Chinh briefed Qatar's leading enterprises on the outcomes of his meetings with the Emir, the Qatari Prime Minister, and other leaders. He emphasized the positive progress in bilateral relations but noted that economic ties have not yet matched the advancements in political and diplomatic relations.

The Chairman of the Qatar Business Association state that the Association will sign a Memorandum of Understanding (MOU) with the Vietnamese side to gradually implement the directives of Prime Minister Pham Minh Chinh. (Photo: VGP/Nhat Bac)

The leaders of both sides agreed on key issues, making economic, trade, and investment collaboration a central pillar of their partnership. They committed to speeding up negotiations for a Free Trade Agreement and an intergovernmental agreement covering visa policy, investment, import-export regulations, and more. While the foundation for a positive relationship is in place, economic ties will largely advance through enterprise-led projects in both countries.

Prime Minister Pham Minh Chinh emphasized that Vietnam prioritizes investment in areas of Qatari expertise, such as oil and gas, energy (particularly LNG and nuclear), digital transformation, and emerging fields like data infrastructure, telecommunications, AI, cloud computing, Internet of Things, and innovation. Vietnam also seeks investment in industrial zone infrastructure, urban development, housing, retail, tourism, and major infrastructure projects, including highways, airports, seaports, high-speed rail, and urban transport systems.

Encouraging Qatari enterprises to invest in large-scale projects in Vietnam, with a focus on technology transfer, workforce training, and linking Vietnam’s supply chain to global networks, Prime Minister Pham Minh Chinh affirmed Vietnam’s commitment to ensuring a conducive business environment. He emphasized Vietnam’s dedication to safeguarding the legitimate rights and interests of foreign investors, enhancing hard and soft infrastructure, as well as social infrastructure, to help to reduce input costs and boost the competitiveness of the products.

Along with that, Vietnam continues to improve its institutional system, mechanisms and policies towards transparency and openness; reduce administrative procedures to reduce compliance costs; ensure equal business in the spirit of "harmonized benefits, shared risks", "harmonized interests of the State, people and businesses". Vietnam is focusing on developing a high-quality workforce that meets the demands of investment, production, and business operations; also ensuring political stability and social security, giving investors confidence to establish long-term operations in Vietnam.

Providing a list of priority investment projects to the Qatari business community, Prime Minister Pham Minh Chinh proposed organizing a Vietnam - Qatar Business Forum, to be held either in Vietnam or Qatar, to connect enterprises, explore investment and business opportunities, and negotiate specific cooperative and investment projects.

Sheikh Faisal bin Qassim Al Thani, Chairman of the Qatar Business Association, noted that based on research and the experience of Qatari firms already operating in Vietnam, Qatar recognizes Vietnam’s high potential in investment cooperation. He expressed appreciation for the Vietnamese government’s supportive and facilitative approach, confirmed that Qatari enterprises are well-positioned to strengthen investment and business ties in Vietnam, as well as increasing the presence of Vietnamese products in Qatar’s market.

Thanking Prime Minister Pham Minh Chinh and fully agreeing with his remarks, the Chairman of Qatar Bussiness Association welcomed the early organization of the Vietnam - Qatar Business Forum. He added that the Qatar Business Association, with a strong team of enterprises across energy, manufacturing, agriculture, tourism, and other sectors, would sign a Memorandum of Understanding (MoU) with Vietnamese partners to systematically implement the Prime Minister's recommendations.

Vietnam Seeks Qatari ODA in Infrastructure, Agriculture Vietnam expects that Qatar will provide the official development assistance (ODA) for infrastructure and agricultural projects in the country, Prime Minister Pham Minh Chinh said.

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