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Posted On: 27 August 2012 01:13 pm
Updated On: 12 November 2020 02:12 pm

Qatar to invest $4bn in Vietnam projects

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Qatar is planning to invest up to US$4bn in projects in Vietnam, including setting up of a labour centre to train workers before they travel to new jobs in the Gulf, a senior diplomat told reporters. The agreements were signed as part of celebrations to mark the 67th Vietnamese National Day. “Qatari Diar is undertaking various real estate development projects in joint ventures with local governments in Vietnam,” Vietnamese ambassador to Qatar Le Hong Phan told reporters. “Negotiations are progressing to establish various multi-purpose facilities, residential and commercial projects and some hotels in Vietnam through joint ventures with Qatari Diar Real Estate Company. There have already been agreements on mutual co-operation and steps are being taken to work on the projects,” Phan told the Gulf Times newspaper. Phan estimated the total cost of such projects would be around $4bn, the report added. As part of the bilateral agreements, Vietnam is to set up a dedicated centre to train its workers ahead of travelling to the Gulf. The Labour Training Centre “will focus on the language and cultural issues related to the region and Qatar in specific,” the ambassador added. Official figures showed there were only 500 Vietnamese citizens employed in Qatar but the new initiative aims to increase this number over the coming years. Phan also hinted that some Vietnamese construction companies were looking to set up offices in Qatar as part of increased bilateral relations between the two countries. Business.com