Saudi Arabia Development Fund wants to be 'strategic partner' of Vietnam

On the morning of October 30, in Riyadh, Saudi Arabia, Prime Minister Pham Minh Chinh received Mr. Sultan Al-Marshad, Executive Director of the Saudi Arabia Fund for Development (SFD).

Prime Minister Pham Minh Chinh asked SFD to promote both direct and indirect investment in Vietnam in the fields of strategic transport infrastructure, digital transformation, green transformation, climate change response, energy projects, data centers, innovation, artificial intelligence, etc. - Photo: VGP/Nhat Bac

The Saudi Arabia Fund for Development-SFD (1974) is a financial agency of the Government of Saudi Arabia, which has so far funded more than 800 development projects and programs in various fields in 100 countries.

In Vietnam, the Fund has provided preferential loans for 12 projects with a total capital of about 160 million USD, ranging from construction and expansion of educational and medical facilities... to construction of traffic routes and renovation of infrastructure affected by natural disasters in rural areas.

At the meeting, Prime Minister Pham Minh Chinh highly appreciated SFD's provision of preferential loans for projects in Vietnam in the past time, hoping that SFD will continue to support and invest in Vietnam on par with the Fund's potential and role, focusing on large projects, with more focus, larger scale, more important fields, simpler procedures and greater incentives than previous projects.

The Prime Minister asked SFD to promote both direct and indirect investment in Vietnam in strategic transport infrastructure sectors, such as seaports, transit airports, high-speed railways, subways, digital transformation, green transformation, climate change response, solar energy projects, wind power, LNG, data centers, innovation, artificial intelligence projects, cloud computing, Internet of Things, etc.

SFD Foundation Executive Director Sultan Al-Marshad highly appreciated the vision and development policies of the Vietnamese Government, wishing to continue creating conditions for the Fund to operate effectively in Vietnam; affirming the honor of becoming a strategic partner of Vietnam... - Photo: VGP/Nhat Bac

For his part, SFD leaders highly appreciated the vision and development policies of the Vietnamese Government, wished to continue to create conditions for the Fund to operate effectively in Vietnam; committed to devoting more resources to projects in Vietnam and affirmed the honor of becoming a strategic partner of Vietnam; said that in December, they will send a working delegation to Vietnam to continue to study and implement specific cooperation projects.

Welcoming the SFD's proposals, the Prime Minister suggested that the SFD soon send a working delegation and work with Vietnamese ministries and sectors to promote the continued implementation of projects that bring about substantial results, thereby contributing to further strengthening comprehensive cooperation between Vietnam and Saudi Arabia.

Source: https://baotainguyenmoitruong.vn/quy-phat-trien-saudi-arabi-muon-la-doi-tac-chien-luoc-cua-viet-nam-382450.html