Qatar plans to invest in a 25,000 hectare rice growing project in the Mekong Delta province of Tra Vinh to ensure the country's food security, Vietnamese Ambassador to Qatar Phung The Long said.
Qatar's experts have visited Vietnam to prepare for negotiations on the project, Long said. The value of the project has not been announced.
The ambassador also said many investors from Qatar are seeking business opportunities in Vietnam's real estate, banking and financial sectors.
Trade value between Vietnam and Qatar has increased steadily over the past three years, from US$30 million in 2007 to around $120 million last year.
However, Long said Vietnam's exports accounted for a much smaller portion in the total value.
Vietnam exports to Qatar were mainly of steel, seafood, electric cable and furniture products. It imported liquified petrolium gas, fertilizer and petrochemical products from the Middle Eastern country.