Chairman of the Provincial People's Committee attended the event "Turning challenges into opportunities - Contributions of the Saudi Arabia Development Fund in Vietnam and around the world"

08:26, 11/07/2023

BHG - On November 6, the Embassy of the Kingdom of Saudi Arabia in Vietnam organized the event "Turning challenges into opportunities - Contributions of the Saudi Arabia Development Fund in Vietnam and around the world ". Attendees included Ambassador of the Kingdom of Saudi Arabia to Vietnam Mohammed Ismaeil A.Dahlwy; Deputy Minister of Planning and Investment Tran Quoc Phuong. On the side of Ha Giang province, there was comrade Nguyen Van Son, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee.

Delegates take souvenir photos at the event.

At the event, Ambassador of the Kingdom of Saudi Arabia to Vietnam Mohammed Ismaeil A.Dahlwy said: The Saudi Arabia Development Fund (SFD), established in 1974, is a financial agency of the Government of Saudi Arabia that plays an important role in providing funding for development projects in developing countries. The Fund's mission is to support economic growth and social progress in those countries by leveraging the strengths of the Kingdom of Saudi Arabia and providing financial and technical resources for projects aimed at addressing the essential needs of the residents receiving support. This mission is in line with the 17 sustainable development goals set by the United Nations to improve the quality of human life and create a more equitable world. To date, the Fund has funded more than 800 projects and development programs in various fields in 100 countries. In addition to providing grants and loans to developing countries, the Fund also contributes to international development organizations on behalf of the Government of the Kingdom of Saudi Arabia.

Ambassador Mohammed Ismaeil A. Dahlwy said: In Vietnam, the Saudi Arabian Development Fund has provided preferential loans for 12 projects, ranging from the construction and expansion of educational and healthcare facilities to the construction of roads and the rehabilitation of infrastructure affected by natural disasters in rural areas. These contributions demonstrate the Kingdom of Saudi Arabia's interest in the socio-economic development process in Vietnam. The Fund's activities in Vietnam have made important contributions to the close cooperation between Saudi Arabia and Vietnam over the past 24 years; which became deeper after the successful visit of Prime Minister Pham Minh Chinh to Saudi Arabia to attend the ASEAN - Gulf Cooperation Council (GCC) Summit last October.

At the event, Mr. Sultan Al-Marshad, Executive Director of the Saudi Arabian Development Fund, cited a prominent example of the Fund’s support to Vietnam, which is the Bac Kan Provincial General Hospital and Medical Training Center project, funded by the Fund in 2011. The project helps address the growing demand for medical services in Bac Kan province and supports the training of human resources in the Vietnamese health sector.

Appreciating the contribution of the Saudi Arabia Development Fund to Vietnam's socio-economic development, Deputy Minister of Planning and Investment Tran Quoc Phuong said: In the process of reviewing, selecting, and completing investment procedures for projects and sending them to the Fund for funding, there are currently 3 projects in the process of completing procedures, including: "Dak Nong Provincial Community College" project, "Renovation and upgrading of Provincial Road 209, Cao Bang Province" project, "Renovation and upgrading of the planned section of National Highway 12D, Dien Bien Province".

According to the Deputy Minister, unlike some large donors with large capital/project scale, multi-sector and complex designs, projects borrowing from the Saudi Arabia Development Fund are small and medium-sized, not too complex, single-sector designs, focusing on a number of specific fields. Therefore, the preparation and implementation of projects are also convenient and quick. Projects funded by the Fund after completion have been put into effective use, contributing to promoting socio-economic development in the locality. Emphasizing that in 2024, Vietnam and Saudi Arabia will celebrate the 25th anniversary of establishing diplomatic relations - an important milestone for cooperation between the two countries, Deputy Minister Tran Quoc Phuong believes that the Saudi Arabia Development Fund will continue to be a bridge for the relationship between Vietnam and Saudi Arabia, towards new cooperation possibilities, in line with the priority areas of the two sides.

News and photos: Kim Tien - Anh Duc

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