Qatar to invest $4bn in Vietnam project
QNA & AGENCIES
HANOI IN the official talks between the Emir His Highness Sheikh Hamad bin Khalifa al Thani and President of the Socialist Republic of Vietnam Truong Tan Sang in Hanoi on Monday, the two sides reviewed bilateral ties, joint cooperation in different areas and the means of bolstering them. The talks also focused on the latest regional and international developments besides other issues of common interest. Later, HH the Emir and the Vietnamese president witnessed the signing of a number of agreements and memoranda of understanding (MoUs) between the two countries. The two sides signed a memorandum of understanding for cooperation in the fields of education, higher education and scientific research. Another MoU signed on the occasion was between the Qatar Central Bank (QCB) and Central Bank of Vietnam even as Qatari Diar Real Estate Investment Company and M & C Company signed an MoU for coordination and cooperation in the matters of investment between Qatar Holding and Vietnam State Capital Investment Corporation. The two sides also signed an agreement for investment in the Long Son Petrochemical project with Petrovietnam and SCG Chemicals Company of Thailand. Under the agreement, Qatar will invest $4 billion in the petrochemical plant project in southern Vietnam and hold a 25 percent stake in the plant to be built in the southern province of Ba Ria Vung Tau. Construction of the plant is scheduled to start in 2012, Vietnamese state media said on Monday, citing PetroVietnam sources. Detailed work on the joint venture will start next month, the Hanoi-based group’s sources said. The complex will be Vietnam’s first fully integrated petrochemical project, consisting of upstream, intermediate and downstream plants, a separate QPI statement said in a. Long Son refinery, part of the project, 120 km southeast of Ho Chi Minh City, would use Middle Eastern crude oil.
Meanwhile, HH the Emir also met Vietnamese Prime Minister Nguyen Tan Dung.
During the meeting held in the Vietnamese cabinet premises, bilateral relations and the ways to further develop them were discussed besides other issues of mutual interest.
HH the Emir then had a meeting with the president of the Vietnamese National Assembly Nguyen Sinh Hung.
Relations between the two countries and ways of enhancing them in various fields came up for discussion. Members of the delegation accompanying HH the Emir were present at these meetings.
Earlier on arrival at Noi Bai International Airport in Hanoi on Monday, HH the Emir and the accompanying delegation were accorded a warm welcome by the chief of the Vietnamese Presidency Affairs Ngowin Ven Geyan and a team of high-ranking Vietnamese officials, Qatar’s Ambassador to Vietnam Mohamad Jaber Abdullah al Sulaiti and Vietnamese Ambassador to Qatar Li Hong Van. From the airport, the entourage of the HH the Emir headed to the presidential palace where President Truong Tan Sang and a number of ministers and high-ranking officials welcomed HH the Emir with a red-carpet reception.
In a statement, HH the Emir voiced pleasure over his Vietnam visit and expressed his and the people and the Government of Qatar’s sincere greetings and best wishes for the progress, welfare and prosperity of the Government and people of a friendly Vietnam. “It gives me great pleasure to be in Vietnam in response to the kind invitation of President Truong Tan Sang, have the opportunity to meet the president and other senior Vietnamese officials to discuss ties of joint cooperation and hold consultations on regional and international issues of common interests,” said HH the Emir in the statement.
“I’m confident that these meetings would give us a great opportunity to promote bonds of friendship and develop cooperation between the two countries in all fields leading to the welfare and prosperity of our peoples,” HH the Emir added.