PM Phạm Minh Chính witnessed the exchange of the memorandum of understanding (MoU) on cooperation in investing in a sports and trade centre complex project in Đông Anh District (Hà Nội) between Việt Nam's T&T and Qatar's JTA International Investment Holding and the Qatar Investment Authority (QIA). — VNA/VNS Photo

DOHA — Vietnamese Prime Minister Phạm Minh Chính have received leaders of the JTA International Investment Holding and the Qatar Investment Authority (QIA) in Doha as part of his official visit to the Middle Eastern country.

On October 31, PM CHính received Amir Ali Salemi, CEO of the JTA International Investment Holding, whose subsidiaries operate in such fields as energy, construction, innovation and technology, tourism, transport, health, agriculture, and food security.

Amir Ali Salemi said that in Việt Nam, JTA is working with T&T Group to consider investment partnerships, including a cooperation agreement on investment in a sport complex and trade centre in Đông Anh district of Hà Nội.

PM Chính spoke highly of JTA’s productive investment and business activities in Qatar as well as around the world. He also voiced his support for its vision and social responsibility as seen in its operations oriented towards sustainable development and green growth.

The Việt Nam - Qatar relations are growing well with mutual trust, which provides a solid cornerstone for their enterprises to expand cooperation. However, economic collaboration has not matched their political - diplomatic ties or the two peoples’ aspirations, he noted.

PM Chính applauded the group's plan to invest in a sport complex project in Đông Anh District amid the fact that Hà Nội has a population of about 10 million but still lacks a symbolic sport complex living up to its stature.

The PM also asked JTA to keep expanding cooperation and investment in Việt Nam while promoting its role in encouraging potential investors of Qatar and other countries to come to the Southeast Asian nation.

He called on the firm to carry out projects with the spirit of “doing as it says, and implementing what it pledges”, adding that if there are any problems during the implementation, Vietnamese agencies and localities will handle in accordance with their power or report to competent authorities for settlement.

At the end of the reception, the PM witnessed the exchange of the memorandum of understanding (MoU) on cooperation in investing in a sports and trade centre complex project in Đông Anh District between T&T and JTA.

Under the signed document, JTA will be responsible for arranging capital sources to implement the project. T&T will work with JTA to propose consultants, develop ideas, plans, designs, and management and operation options, and complete legal procedures in accordance with Vietnamese and international laws.

Prime Minister Phạm Minh Chính (right) had talks with Chairman of Qatar Investment Authority (QIA) and Governor of the Central Bank of Qatar Sheikh Bandar Al Thani, and Chief Investment Officer for Asia-Africa at QIA Sheikh Faisal Al Thani. — VNA/VNS Photo

Earlier, on October 30 evening, PM Chính received leaders of the Qatar Investment Authority (QIA) - Qatar's national investment fund with estimated assets of about US$475 billion in 2023.

Chairman of QIA and Governor of the Central Bank of Qatar Sheikh Bandar Al Thani, and Chief Investment Officer for Asia-Africa at QIA Sheikh Faisal Al Thani said that the authority manages the Qatari Government’s oil and natural gas surplus.

With a strategy to reduce risks from dependence on energy prices, QIA mainly invests in non-energy sectors and in international markets.

The QIA leaders said that the fund is very strict in choosing investment locations. However, through research on emerging markets, it recognises investment opportunities in Việt Nam, which is in line with its strategy towards the Far East and East Asia.

In Việt Nam, the State Capital Investment Corporation (SCIC) and QIA have signed two MOUs to enhance information exchange and seek measures to promote cooperation and investment opportunities. They have also agreed to establish a joint investment fund.

Welcoming QIA's cooperation with the SCIC, the Vietnamese leader said that the bilateral relationship is developing well, with mutual trust, robust economic cooperation and great potential, noting this lays a solid foundation for businesses of the two countries to expand cooperation. However, investment cooperation between the two countries remains modest.

He suggested QIA consider boosting investment in Việt Nam, focusing on strategic infrastructure projects such as highways, high-speed railways, urban railways, subways, seaports, transit airports, and telecommunications infrastructure; climate change response, digital transformation, health care, and education; wind power, solar power, power storage, and power transmission projects.

The PM welcomed QIA sending delegations to Việt Nam, directly discussing with Vietnamese agencies or through online channels, specifically studying Việt Nam's portfolio of key projects calling for investment, selecting suitable projects for investment, enhancing cooperation with the State Capital Investment Corporation (SCIC), and increasing policy consultations and recommendations.

PM Chính affirmed that the Vietnamese government is committed to protecting the legitimate rights and interests of investors while promoting three strategic breakthroughs by building open institutions, developing strategic infrastructure, and training a high-quality workforce.

Additionally, Việt Nam is focused on improving the investment and business climate by streamlining administrative procedures, reducing logistics, input and compliance costs, and enhancing products' competitiveness, developing social infrastructure to ensure social services for investors and workers, along with improving skills of workers to support investors, he said.

Sheikh Bandar agreed with the PM’s opinions and affirmed QIA’s readiness to expand its investment in Việt Nam in the coming time.

He revealed that QIA will send a working delegation to Việt Nam soon to promote specific projects, particularly in the sectors mentioned by the PM. — VNA/VNS