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
Indonesia partners with Japan’s SMBC to boost exports

Indonesia partners with Japan’s SMBC to boost exports

Indonesia’s Ministry of Trade has partnered with Japan’s Sumitomo Mitsui Banking Corporation (SMBC) to expand exports, particularly in high-quality and sustainable products.

Southeast Asia - Wed, June 11, 2025 | 9:39 pm GMT+7

Netherlands to invest $300 mln in Indonesia

Netherlands to invest $300 mln in Indonesia

The Netherlands has prepared an investment of IDR 4.89 trillion ($300 million) to support various programs currently being implemented in Indonesia, according to the Indonesian Chamber of Commerce and Industry (Kadin).

Southeast Asia - Wed, June 11, 2025 | 9:36 pm GMT+7

Singapore-based Jetstar Asia to cease operations from July 31

Singapore-based Jetstar Asia to cease operations from July 31

Singapore-based low-cost airline Jetstar Asia will cease operations from July 31 as part of a “strategic restructure” by its parent company, Australian flag carrier Qantas.

Southeast Asia - Wed, June 11, 2025 | 9:33 pm GMT+7

Indonesia aims to stop corn imports in 2026

Indonesia aims to stop corn imports in 2026

Indonesian President Prabowo Subianto has revealed that Indonesia is targeting to stop importing corn from 2026 when it is hoping to achieve self-sufficiency in corn production.

Southeast Asia - Wed, June 11, 2025 | 8:48 pm GMT+7

Nickel extraction threatens archipelago tourism in Indonesia

Nickel extraction threatens archipelago tourism in Indonesia

A nickel mining project in Raja Ampat, Indonesia has raised significant environmental concerns due to its potential to harm the archipelago’s ecotourism industry.

Southeast Asia - Wed, June 11, 2025 | 8:43 pm GMT+7

Vingroup forms consortium with VinEnergo to develop LNG-fueled power plant in northern Vietnam

Vingroup forms consortium with VinEnergo to develop LNG-fueled power plant in northern Vietnam

Vingroup, Vietnam's leading private conglomerate, will join a consortium with VinEnergo, an energy firm majority-owned by billionaire Pham Nhat Vuong, to invest in a 4,800MW LNG-fueled power project in the northern port city of Hai Phong.

Energy - Wed, June 11, 2025 | 5:49 pm GMT+7

Techcombank wins Gold for Innovation in Cross-Media Marketing at 2025 Asia-Pacific Stevie Awards

Techcombank wins Gold for Innovation in Cross-Media Marketing at 2025 Asia-Pacific Stevie Awards

Techcombank has reaffirmed its position as a leading banking brand in Vietnam by Brand Equity Index (BEI), achieving the highest score in the Vietnamese banking industry for a second consecutive quarter in Q1/2025, according to market research firm NielsenIQ.

Companies - Wed, June 11, 2025 | 5:22 pm GMT+7

Vietnam seeks big investments in high tech, renewables, logistics: forum

Vietnam seeks big investments in high tech, renewables, logistics: forum

Vietnam is looking for critical private investments in the sectors of high technology, semiconductors, renewable energy (LNG, hydrogen, electric batteries), logistics, industrial park development, innovation, and digital transformation.

Economy - Wed, June 11, 2025 | 3:05 pm GMT+7

Making home ownership accessible again: Nam Long ADC chairman

Making home ownership accessible again: Nam Long ADC chairman

Following the success of delivering over 10,000 affordable homes (EHome) and social housing units (EHomeS) in southern Vietnam, Nam Long ADC – a member of Nam Long Group – is strategically expanding this pioneering model to the northern market. Steven Chu, chairman of Nam Long ADC, provides an insight into this strategic move.

Executive Talk - Wed, June 11, 2025 | 2:00 pm GMT+7

Vietnam, France sign energy, mineral cooperation deals

Vietnam, France sign energy, mineral cooperation deals

Vietnamese and French agencies signed two cooperation documents in energy and minerals in Paris on Tuesday (local time).

Economy - Wed, June 11, 2025 | 12:19 pm GMT+7

Spain willing to cooperate with Vietnam in high-speed railway development: Spanish PM

Spain willing to cooperate with Vietnam in high-speed railway development: Spanish PM

Spain, which boasts the world's second-longest high-speed railway system, is ready to cooperate and share expertise with Vietnam in this field, said Spanish Prime Minister Pedro Sanchez.

Infrastructure - Wed, June 11, 2025 | 11:02 am GMT+7

Vietnam's leading construction materials maker Viglacera projects 21% revenue hike in 2025

Vietnam's leading construction materials maker Viglacera projects 21% revenue hike in 2025

Viglacera, Vietnam's leading producer of building materials, targets VND14.44 trillion ($555.12 million) in revenue for 2025, up 21% from last year.

Companies - Wed, June 11, 2025 | 10:38 am GMT+7

Vietnam’s first LNG power plants to begin commercial operation this year

Vietnam’s first LNG power plants to begin commercial operation this year

Nhon Trach 3 and 4, Vietnam’s first LNG-fired power plants, are expected to begin commercial operations this year, according to a new ministerial decision.

Energy - Wed, June 11, 2025 | 10:00 am GMT+7

Europe-Asia Industry Cooperation Forum to take place in Hanoi today

Europe-Asia Industry Cooperation Forum to take place in Hanoi today

The Vietnam's Association of Foreign Invested Enterprises (VAFIE), in association with F&H International Industry, will organize the Europe-Asia Industry Cooperation Forum in Hanoi today.

Economy - Wed, June 11, 2025 | 7:30 am GMT+7

Thailand's SCG Packaging becomes sole owner of Vietnam's leading plastics firm Duy Tan

Thailand's SCG Packaging becomes sole owner of Vietnam's leading plastics firm Duy Tan

SCG Packaging Public Company Limited (SCGP), a subsidiary of Thailand's multi-sector giant SCG, has acquired an additional 30% stake at Duy Tan JSC, becoming the sole owner of the leading producer of rigid plastic packaging products in Vietnam.

Companies - Tue, June 10, 2025 | 10:53 pm GMT+7

VinaCapital fully divests from Vietnam’s private hospital chain Tam Tri

VinaCapital fully divests from Vietnam’s private hospital chain Tam Tri

The Vietnam Opportunity Fund (VOF), managed by VinaCapital, has announced its full divestment from local hospital chain Tam Tri Medical, according to a filing with the London Stock Exchange.

Finance - Tue, June 10, 2025 | 4:43 pm GMT+7