A breakthrough needed in attracting Qatari investment

Business Forum Magazine conducted an exclusive interview with H.E. Mr. Khalid Ali Abdullah Abel, Ambassador of the State of Qatar to Vietnam, to gain his insights on new high-value areas of cooperation.

How do you assess the current Vietnam-Qatar relationship? In your opinion, which areas are opening up new cooperation opportunities, aligning with the development priorities of both countries?

The relations between the State of Qatar and the Socialist Republic of Vietnam have witnessed a lot of development recently, thanks to the efforts of the leaders of the two countries. I think the high-level visits between the leaders of both countries have helped in promoting political trust and show that they really desire to lift relations to a higher level to reach the level of comprehensive partnership by harnessing the huge potentials of both countries for the benefits of their people, focusing on energy, Halal industry, banking, and technology, including energy, oil and gas, infrastructure, the halal industry, agriculture, food security, green economy, education, and tourism.

I think very soon the relations between the two countries will be elevated to a comprehensive partnership. Besides, I see that the future of the relation between the two countries is a promising future, especially since the leaders of the two countries are sharing the same visions and goals to strengthen their relations. 

How do Qatari investors assess the current Vietnamese market? What are the most attractive aspects that make Vietnam a potential destination in Qatar's investment strategy?

Qatari investors see a lot of opportunities and potential in the Vietnamese market; it’s one of the fastest-growing economies in the world. All big companies in the world are heading to Viet Nam because of its political and economic stability.

First, the State of Qatar attaches great importance to developing its relation with Vietnam, and what makes it a potential destination are the following. Political stability. Vietnam is considered one of the most politically stable countries in the world; that’s why many investors are heading to it, especially if we look to the political and geopolitical challenges in the world today.

Second, Vietnam is one of the fastest-growing economies in the world, thanks to its huge production and exports and its big consumption market. All of that raises the awareness of Qatari investors to think of investing in Vietnam, and I think we will see a lot of Qatari investments in Vietnam very soon.

Third, about investment policies and incentives, the Government of Vietnam is always trying to attract foreign investments through giving a lot of incentives and legal policies and creating favorable conditions and administrative reforms. Thus resulting in attracting a lot of foreign direct investments.

Forth, being located near shipping routes and with its borders with China and East Asia, Vietnam has become the most attractive country for foreign investments.

Fifth, with its more than one hundred million people, most of whom are young, and many vocational training centers all over the country, Vietnam has become one of the most attractive destinations for most of the big companies in the world.

Finally, the number of Free Trade Agreements (FTA) Vietnam signed. Vietnam has signed many FTAs with many countries and blocs; those FTAs contribute to strengthening trade relations between Vietnam and other states. 

In your opinion, what cooperation frameworks or agreements should the two countries promote to create a breakthrough for Qatari capital flows into Vietnam?

In my opinion, the two countries should sign an investment protection agreement. I think this agreement is very important and will play a vital role in securing investments against all risks that may occur. I will lead the Qatar Investment Authority (QIA) to come to Vietnam to study the market and investment climate and invest in big projects, especially in the fields of infrastructure, oil and gas, green energy, digital economy, and AI. Besides that, the two countries should sign an agreement to avoid double taxation, and I believe that if we sign those two agreements, we will see Qatari investments flow to Vietnam in the earlier mentioned areas.

What plans will the Embassy of the State of Qatar in Vietnam implement to promote business connections between the two countries in the coming year?

As Ambassador, I will spare no efforts to help strengthen the relations between two countries, and I believe that the economic field is the key area to lift relations to a higher level. We have many plans to bring QIA and groups of businessmen from the State of Qatar to study and explore business opportunities in Vietnam and to participate in all big trade events in Vietnam.

Also, we have plans to invite groups of businessmen and big companies’ leaders in Vietnam to visit the State of Qatar and explore the Qatari market. Organizing a business forum is also in our schedule; through that we can connect together businesses from both two countries and increase trade connections, promoting investments. We also plan to organize trade workshops in both Qatar and Vietnam.

Thank you so much!