On the evening of October 30, right after arriving in Doha, starting an official visit to the State of Qatar, Prime Minister Pham Minh Chinh received Mr. Sheikh Bandar Al Thani, Chairman of the Qatar Investment Authority (QIA) and Governor of the Central Bank of Qatar, and Mr. Sheikh Faisal Al Thani, QIA's Asia-Africa Investment Director.
QIA is the sovereign wealth fund of Qatar. As of 2023, QIA had an estimated total assets of $475 billion. QIA manages the Qatari Government ’s surplus oil and natural gas reserves. As part of its strategy to mitigate the risks of Qatar’s dependence on energy prices, the Fund invests primarily in international and domestic markets outside of the energy sector. Qatar National Vision 2030 transitions from natural gas-based revenues to investments.
In Vietnam, the State Capital Investment Corporation (SCIC) and QIA have twice signed a memorandum of understanding (MOU) to enhance information exchange and seek measures to promote cooperation and investment opportunities, especially investment in Vietnam.
Based on the MOUs, SCIC and QIA have established a Joint Committee between the two agencies. Currently, SCIC and QIA have discussed and agreed to sign an MOU to establish a joint investment fund with QIA.
At the reception, Prime Minister Pham Minh Chinh highly appreciated the effectiveness of QIA's activities, its contribution to the economic development and investment of Qatar and the Middle East region, as well as the cooperation between QIA and SCIC.
According to the Prime Minister, the relationship between Vietnam and Qatar is developing well, with mutual trust, rapid economic cooperation and great potential, which is a solid foundation for businesses of the two countries to expand cooperation. However, investment cooperation between the two countries is still modest.
The Prime Minister suggested that QIA consider boosting investment in Vietnam, focusing on strategic infrastructure projects (including hard and soft infrastructure, such as transport infrastructure including highways, high-speed railways, urban railways, subways, seaports, transit airports, telecommunications infrastructure, climate change response infrastructure, digital transformation, social infrastructure, healthcare, education); wind power projects, solar power projects, power storage systems, power transmission, etc.
The Prime Minister welcomed QIA sending a working delegation to Vietnam to directly discuss with Vietnamese agencies or through flexible forms such as online, to learn specifically about the national list of key projects calling for investment in Vietnam, select suitable projects to participate in investment; promote cooperation with SCIC; and enhance consultation and policy comments.
The Prime Minister affirmed that the Government ensures the legitimate and legal rights and interests of investors; promotes three strategic breakthroughs in building open institutions, developing strategic infrastructure and training high-quality human resources, promoting improvement of the investment and business environment, reforming administrative procedures towards simplicity, speed, reducing logistics costs, input costs, compliance costs, improving product competitiveness, focusing on developing social infrastructure to ensure social services for investors and workers, training and improving workers' vocational skills to support investors.
For his part, Mr. Sheikh Bandar Al Thani assessed that the political relationship between the two countries is very good, Vietnam is an emerging market with many investment opportunities, while QIA's strategy is to increase investment in the Far East and East Asia, choosing places where long-term investment is possible.
Appreciating the information that the Prime Minister shared about Vietnam's investment environment and investment attraction priorities, he said that QIA is ready to expand investment in Vietnam in the coming time and will send a working delegation to Vietnam to promote specific projects, especially in the areas mentioned by the Prime Minister.
The Prime Minister assigned the Ministry of Planning and Investment to be the focal agency to support and provide information to QIA on potential projects that the two sides can cooperate on in the coming time.
Source: https://baotainguyenmoitruong.vn/thu-tuong-de-nghi-quy-475-ty-usd-cua-qatar-day-manh-dau-tu-vao-viet-nam-382471.html
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