Prime Minister wants to cooperate with "oil giants" but not based on resources

(Dan Tri) - Making a strong commitment to creating conditions for Saudi Arabian businesses to invest in Vietnam, Prime Minister Pham Minh Chinh emphasized the direction of cooperation in digital transformation, green transformation...

On the morning of October 19 local time, Prime Minister Pham Minh Chinh attended and spoke at the Vietnam - Saudi Arabia Business Forum during his visit to this country and the ASEAN - Gulf Cooperation Council (GCC) Summit.

"From this Forum, the two sides will have more confidence, opportunities, and necessary conditions to strengthen cooperation," according to the Prime Minister.

Strengthening cooperation in emerging industries

Looking back at history, Vietnam was once a country that suffered a lot when it had to face war and embargo for a long time, but the Prime Minister emphasized that since the renovation in 1986, Vietnam's economy has achieved many successes.

Prime Minister Pham Minh Chinh speaks at the Vietnam - Saudi Arabia Business Forum (Photo: Anh Thu).

According to the Prime Minister, the three pillars that Vietnam focuses on building are: building socialist democracy, mobilizing all resources to develop the country; building a socialist rule-of-law state of the people, by the people and for the people; building a socialist-oriented market economy, following objective laws but when necessary, there is still State intervention, for example with major issues such as social security.

"Throughout the three pillars, people are the center, the subject, the goal, the driving force and the resource for development; not sacrificing progress, social justice, social security and the environment to pursue mere economic growth," the Prime Minister emphasized.

Besides, the head of the Government said that Vietnam builds an independent, self-reliant, diversified, and multilateral foreign policy, is a good friend and reliable partner of all countries in the world, and is a responsible member of the international community.

Prime Minister Pham Minh Chinh attends the Vietnam - Saudi Arabia Business Forum (Photo: Doan Bac).

"Vietnam currently has relations with more than 200 countries around the world, establishing strategic partnerships and comprehensive strategic partnerships with all G20 countries and countries that are permanent members of the United Nations Security Council," the Prime Minister emphasized.

Vietnam has also signed 16 FTAs ​​with more than 60 countries around the world to expand preferential policies on tax and investment, according to the Prime Minister.

In 2022, Vietnam's import-export turnover will reach 752 billion USD, the economic scale will rank 40th but import-export turnover will rank 20th in the world.

"The "4 no's" defense policy, along with economic and diplomatic policies, helps Vietnam stabilize its politics and create a favorable environment for investors to come to Vietnam," Prime Minister Pham Minh Chinh affirmed.

During the most difficult years of the Covid-19 pandemic, Prime Minister Pham Minh Chinh emphasized that Vietnam still maintained macroeconomic stability, controlled inflation at over 3%, GDP growth in 2022 at over 8%, and ensured major balances of the economy.

Referring to the relationship between the two countries, the Prime Minister said this is the foundation for promoting deeper, more comprehensive and stronger investment cooperation.

With many similarities and a shared vision, Prime Minister Pham Minh Chinh emphasized that Vietnam and Saudi Arabia have great room and potential for cooperation. The two sides also have trade relations that can complement each other.

In cooperation, the Head of Government emphasized the need to promote cooperation in emerging industries such as digital transformation, green transformation, and climate change response. In particular, the Prime Minister emphasized the development orientation not based on resources but on innovation and science and technology...

The Prime Minister and leaders of ministries and sectors of the two countries witnessed the signing ceremony of the memorandum of understanding between Vietnam and Saudi Arabia (Photo: Doan Bac).

Regarding the development of the Halal agriculture and food industry, the Prime Minister affirmed that Vietnam has an abundant labor force that can meet the needs of Saudi Arabia because there are currently more than 5,000 Vietnamese workers working in this country.

Besides, Vietnam is also negotiating a free trade agreement with the UAE with the expectation of opening its market to the Gulf countries by the end of the year.

"These are things that are within our reach. The Vietnamese Government is committed to ensuring the legitimate rights and interests of businesses and is ready to work together to enhance the interests of foreign businesses in the Vietnamese market," the Prime Minister pledged.

Sharing that in business cooperation there will be times of ease and times of difficulty, the Prime Minister emphasized that the most important thing is to accompany and share with each other in difficult times in the spirit of "harmonious benefits and shared risks".

Vietnam is the starting point of the economic corridor with the Gulf countries.

Mr. Hassan Al Hwaiziy, Chairman of the Federation of Saudi Arabian Chambers of Commerce, said that trade between Vietnam and Saudi Arabia will reach 2.2 billion USD in 2021, then increase to more than 3 billion USD in 2023.

Mr. Hassan Al Hwaiziy, Chairman of the Federation of Saudi Arabian Chambers of Commerce (Photo: Anh Thu).

Regarding Saudi Arabia being Vietnam's second largest trading partner in the Middle East, Mr. Hassan Al Hwaiziy ​​said that the country wants to increase exports to Vietnam to balance the trade balance and penetrate deeply into the Vietnamese market.

In 2022, Saudi Arabia's total export turnover will be more than 400 billion USD, of which 84 billion USD will be non-oil product exports, most importantly mega-city and mega-urban projects.

"We are implementing a global supply chain initiative, an economic corridor between the Gulf countries, in which Saudi Arabia is the strategic axis and Vietnam is the starting point of this corridor," said Mr. Hassan Al Hwaiziy.

He expects other fields such as tourism, entertainment, and media will open up new cooperation prospects between the business communities of the two countries.

Mr. Waqas Akram, Brand Director of Emi Viet Trading and General Company Limited (Photo: Anh Thu).

Speaking further with reporters at this event, Mr. Waqas Akram, Brand Director of Emi Viet Trading and General Company Limited, said that agricultural products such as vegetables, coffee, cocoa... or dried foods and spices of Vietnam basically meet the Middle Eastern market, but frozen meat products are still limited.

Mr. Waqas Akram, Brand Director of Emi Viet Trading and General Company Limited (Photo: Anh Thu). Explaining, he said that the Halal slaughter method has high standards, businesses need to produce in a chain from breeding to raising, ensuring slaughter standards... "Vietnam needs to adjust and accept investment for this change," said Mr. Waqas Akram.

In addition, he believes that if Vietnam adjusts to Halal standards, it will also attract a large number of tourists from Middle Eastern countries.

Hoai Thu (From Riyadh, Saudi Arabia)