Qatar-Vietnam trade up 32% to QR2bn in 2022

Qatar and Vietnam’s bilateral trade witnessed a 32% growth to reach QR2bn in 2022 from QR1.5Bn in the previous year, according to a Qatar Chamber official.
Qatar Chamber board member engineer Ali Abdullatif al-Misnad announced the figures during a recent meeting in Doha with a delegation from Vietnam headed by Nguyen Phun Nam, the deputy director general for Asia & Africa of the Southeast Asian nation’s Ministry of Industry and Trade.
The meeting, which was held in the presence of Vietnamese ambassador Tran Duc Hung and other Qatar Chamber officials, as well as businessmen from both sides, reviewed the cooperation ties between Qatar and Vietnam
During the meeting, al-Misnad lauded the close relations between Qatar and 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.
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 on both sides.
Speaking on mutual investments, al-Misnad stressed that Qatar and Vietnam witnessed significant development in recent years, adding that there are a number of investments in various sectors, such as healthcare and pharmaceuticals.
He also emphasised the leading role that can be performed by the Qatari and Vietnamese private sectors in developing relations between both countries by forging trade and investment alliances, as well as partnerships whether in Qatar or in Vietnam.
Al-Misnad called on the Vietnamese companies to invest in Qatar and take advantage of its advanced infrastructure, leading economic legislation, and the 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.
Al-Misnad also assured that the Qatari private sector welcomes cooperation with its Vietnamese counterparts in sectors like agriculture, industry, tourism, real estate, and banking, among others.
For his part, Nam noted that Vietnam 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.
On the other hand, Hung said both 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.