Vietnam PM calls for more investment from Qatar’s $475 bln sovereign wealth fund

By Quang Minh
Thu, October 31, 2024 | 4:43 pm GMT+7

Vietnamese Prime Minister Pham Minh Chinh has called on the Qatar Investment Authority (QIA), Qatar's sovereign wealth fund with total assets amounting to $475 billion as of 2023, to ramp up its investment in Vietnam.

PM Chinh made the proposal at a Wednesday meeting in Doha with Sheikh Bandar bin Mohammed bin Saoud Al-Thani, chairman of QIA and governor of the Qatar Central Bank, and Sheikh Faisal Bin Thani Al Thani, chief of Asia-Pacific & African Investments at QIA.

Prime Minister Pham Minh Chinh and Sheikh Bandar bin Mohammed bin Saoud Al-Thani, chairman of QIA and governor of the Qatar Central Bank, in Doha, Qatar, October 30, 2024. Photo courtesy of the government’s news portal.

Prime Minister Pham Minh Chinh and Sheikh Bandar bin Mohammed bin Saoud Al-Thani, chairman of QIA and governor of the Qatar Central Bank, in Doha, Qatar, October 30, 2024. Photo courtesy of the government’s news portal.

He urged QIA to consider investing in Vietnam in the realms of strategic infrastructure projects, including expressways, high-speed railways, urban railways, metros, seaports, telecommunications infrastructure and climate change-resilient infrastructure; digital transformation; healthcare; education; and wind power, solar power, energy storage systems and power transmission.

Chinh encouraged QIA to send delegations to Vietnam to explore the portfolio of key national projects, increase cooperation with State Capital Investment Corporation (SCIC), and promote policy consultations.

QIA and SCIC have signed two memorandums of understanding (MoU) to exchange information and explore opportunities for cooperation and investment in Vietnam. The two agencies have agreed to sign an MoU to set up a joint investment fund.

For his part, Sheikh Bandar bin Mohamed bin Saud Al-Thani recognized abundant investment opportunities in Vietnam and shared that QIA aims to increase presence in Far East and East Asia, which is eligible for long-term investments.

He affirmed that QIA is willing to expand investments in Vietnam and will send a delegation to Vietnam to explore specific projects, particularly in the sectors highlighted by the Vietnamese PM.

PM Pham Minh Chinh arrived in Doha on Wednesday evening (local time) for a three-day official visit to Qatar. Qatar is the last leg of Chinh’s Middle East tour that includes the UAE and Saudi Arabia.

According to the Vietnamese Ministry of Foreign Affairs, annual trade between Vietnam and Qatar averaged $400 million in 2019-2023, with the tally in 2023 rising 32% year-on-year to $497 million.

Qatar has only one investment in Vietnam worth $3.23 million in the processing industry.

QIA has indirectly invested some $500 million in several real estate and industrial projects in Vietnam.

Comments (0)
  • Read More
Business confidence climbs as reforms gain traction amid global headwinds: EuroCham Vietnam

Business confidence climbs as reforms gain traction amid global headwinds: EuroCham Vietnam

The index climbed to 66.5, surpassing pre-tariffs level and reaching its highest in three years – showcasing resilience and adaptability amid global headwinds and evolving U.S. tariff pressures.

Economy - Thu, October 16, 2025 | 4:36 pm GMT+7

Vietnam's stock market watchdog suspends two Grant Thornton auditors

Vietnam's stock market watchdog suspends two Grant Thornton auditors

Vietnam's State Securities Commission (SSC) has suspended two auditors from Grant Thornton Vietnam after determining that the 2024 audited financial statements of Saigon Water Infrastructure Corporation (HoSE: SII) failed to meet required standards.

Banking & Finance - Thu, October 16, 2025 | 3:35 pm GMT+7

Law No. 56 a major policy breakthrough for Vietnam's stock market development

Law No. 56 a major policy breakthrough for Vietnam's stock market development

The Law No. 56, effective January 1, 2025, is one of the major legal breakthroughs in recent years that will enhance the transparency and operational efficiency of the Vietnamese stock market.

Finance - Thu, October 16, 2025 | 2:30 pm GMT+7

WHA Group breaks ground on smart technology industrial zone in central Vietnam

WHA Group breaks ground on smart technology industrial zone in central Vietnam

Thailand's WHA Group on Tuesday broke ground on a world-class, modern, and environmentally friendly industrial zone in central Vietnam, namely the WHA Smart Technology Industrial Zone-Thanh Hoa.

Real Estate - Thu, October 16, 2025 | 2:00 pm GMT+7

Vietnam a key partner in Murphy Oil’s global strategy: exec

Vietnam a key partner in Murphy Oil’s global strategy: exec

Vietnam remains a key partner in Murphy Oil’s global business strategy, said Eric Hambly, the U.S. corporation's president and CEO.

Companies - Thu, October 16, 2025 | 12:06 pm GMT+7

VNPT, Qualcomm debut Vietnam’s 1st original design-based excellence center

VNPT, Qualcomm debut Vietnam’s 1st original design-based excellence center

State-owned Vietnam Posts and Telecommunications Group (VNPT) and Qualcomm have officially launched the VNPT-Qualcomm Excellence Center (VQEC), the first facility in the country to operate under an original design co-development model using Qualcomm’s core technologies.

Companies - Thu, October 16, 2025 | 8:41 am GMT+7

Indonesia enjoys steady growth in nine months

Indonesia enjoys steady growth in nine months

Indonesia's Ministry of Finance on Tuesday announced the country’s 2025 budget performance as of September, reporting that Southeast Asia’s largest economy continued to post steady growth despite global economic uncertainties.

Southeast Asia - Wed, October 15, 2025 | 9:53 pm GMT+7

Malaysia on progressive path towards AI nation status: experts

Malaysia on progressive path towards AI nation status: experts

Malaysia is on a progressive track towards becoming an Artificial Intelligence (AI) nation by 2030, a goal seen as achievable under Budget 2026 - the Malaysian Government’s fiscal and policy framework for 2026.

Southeast Asia - Wed, October 15, 2025 | 9:44 pm GMT+7

Thailand steps up development of semiconductor industry

Thailand steps up development of semiconductor industry

Thailand’s Board of Investment (BOI) plans to propose a new national semiconductor and advanced electronics policy board to the government, which will spearhead Thailand’s semiconductor development strategy.

Southeast Asia - Wed, October 15, 2025 | 9:40 pm GMT+7

ASEAN sets ambitious energy targets

ASEAN sets ambitious energy targets

Senior energy officials from ASEAN member nations and Timor-Leste on Tuesday convened in Kuala Lumpur, Malaysia, to finalize key outcomes and policy recommendations to be submitted to the 43rd ASEAN Ministers on Energy Meeting (AMEM).

Southeast Asia - Wed, October 15, 2025 | 9:33 pm GMT+7

Sun Group gets nod for $375 mln inland waterway tourism project in central Vietnam

Sun Group gets nod for $375 mln inland waterway tourism project in central Vietnam

A subsidiary of Sun Group, one of Vietnam’s leading real estate developers, has received approval to invest VND9.88 trillion ($375 million) in an inland waterway tourism project in the central coastal city of Danang.

Industries - Wed, October 15, 2025 | 5:21 pm GMT+7

Vietnamese luxury car dealer Haxaco’s business slumps, stock nears two-year low

Vietnamese luxury car dealer Haxaco’s business slumps, stock nears two-year low

The operations of Hang Xanh Automobile Service JSC or Haxaco (HoSE: HAX), known as the largest distributor of Mercedes-Benz vehicles in Vietnam, are under pressure as consumers tighten spending and competition among car brands intensifies.

Companies - Wed, October 15, 2025 | 5:13 pm GMT+7

Vietnam sets 2026 GDP growth target at 10%

Vietnam sets 2026 GDP growth target at 10%

The Vietnamese Government has set the targets for economic expansion in 2026 at about 10% and inflation at 4.5%.

Economy - Wed, October 15, 2025 | 4:28 pm GMT+7

Movement of mega projects creates momentum for central Vietnam's Van Phong Economic Zone

Movement of mega projects creates momentum for central Vietnam's Van Phong Economic Zone

A series of large-scale projects in Van Phong Economic Zone are being accelerated, opening new prospects for breakthroughs in this key growth hub of Khanh Hoa province.

Industries - Wed, October 15, 2025 | 12:24 pm GMT+7

Vietnam's International Financial Center ambition can unlock new wave of innovation

Vietnam's International Financial Center ambition can unlock new wave of innovation

By embedding clarity, consistency, and collaboration into the foundations of its International Financian Center, Vietnam can create not just another financial center, but a hub for innovation that connects Asia to the world, writes Phil Wright, COO, HSBC Vietnam.

Consulting - Wed, October 15, 2025 | 11:03 am GMT+7

Gamuda Land expands Singapore portfolio with Chencharu Close win

Gamuda Land expands Singapore portfolio with Chencharu Close win

Gamuda Berhad has announced that its property arm, Gamuda Land, has formally executed the acceptance of the award for a significant land parcel at Chencharu Close, Yishun, Singapore.

Companies - Wed, October 15, 2025 | 10:41 am GMT+7