Qatar Chamber board member Eng. Ali Abdullatif Al Misnad lauded the close relations between the State of Qatar and the Socialist Republic of Vietnam in all fields, particularly in the economic and commercial spheres, noting that this is evident through the mutual visits and agreements signed between them in various fields.
This came during a meeting held at the Chamber’s venue on Thursday with a Vietnamese business delegation led by Deputy Director General for Asia & Africa at the Ministry of Industry and Trade Nguyen Phun Nam in the presence of the Ambassador of Vietnam to Qatar, HE Tran Duc Hung and a crowd of businessmen from both sides.
The meeting touched on reviewing the economic and commercial relations between both countries and exploring the cooperation vistas between the Qatari Vietnamese private sectors and the investment opportunities available in both sides.
As for the two countries’ bilateral trade, Al Misnad said it reached QR 2 billion last year, compared to QR 1.5 billion in 2021, registering a 32 per cent growth.
Regarding mutual investments, he stressed that the two countries’ investment cooperation witnessed significant development in recent years and there are a number of investments in various sectors such as healthcare and pharmaceuticals.
He also emphasized the leading role that can be performed by the Qatari and Vietnamese private sectors in developing relations between both countries by forging trading and investment alliances and partnerships, whether in Qatar or in Vietnam.
Al Misnad called on the Vietnamese companies to invest in Qatar and take advantage of the incentives it offers, the advanced infrastructure, the leading economic legislation, and the investment incentives that attract foreign investment in all sectors.
He also invited Qatari businessmen and investors to explore the investment opportunities available in Vietnam and work to enhance cooperation with their counterparts from Vietnam.
QC board member affirmed the Chamber’s interest in enabling Qatari businessmen to learn about the investment opportunities available in all countries including Vietnam, noting that it is an attractive investment destination.
He also assured that the Qatari private sector welcomes cooperation with its Vietnamese counterpart in many sectors like agriculture, industry, tourism, real estate, banking, and others.
For his part, Deputy Director General for Asia & Africa at the Ministry of Industry and Trade Nguyen Phun Nam praised the relations between his country and Qatar, congratulating Qatar on its success in hosting the 2022 World Cup.
Nam noted that his country attaches great importance to developing economic and commercial relations with Qatar and providing incentives for Qatari investors, stressing that there is a great opportunity for the private sector on both sides to further enhance these relations and develop the two countries’ trade exchange.
He added that Vietnam is a manufacturing country in various industries and is a key part of the global supply chains in several fields like electronics, garments, furniture, and coffee, stressing that is an attractive destination for investments and is a member of a number of economic blocs.
Ambassador of Vietnam to Qatar HE Tran Duc Hung said that the two friendly countries enjoy advanced relations, noting that there are a lot of Vietnamese products in the Qatari market, and there are many Qatari investments in Vietnam, which constitute a solid foundation for developing the two countries’ trade volume.
He referred to the visit of the Vietnamese Vice-President Vo Thi Anh Xuan to Qatar which aimed at developing trading and economic relations with Qatar.
The Vietnamese side delivered a presentation highlighting the most important features of the Vietnamese economy and investment climate, as well as the trade cooperation with Qatar and the sectors in which both sides can cooperate in.