According to the VNA special correspondent, on the occasion of attending the 8th Future Investment Initiative (FII8) conference and visiting and working in the Kingdom of Saudi Arabia, on the morning of October 30 (local time), in Riyadh, Prime Minister Pham Minh Chinh held a meeting with major Saudi Arabian businesses to promote investment cooperation.
* During a meeting with leaders of Zamil Group – Saudi Arabia's largest industrial investment group with a presence in 60 countries worldwide – Zamil leaders expressed gratitude for the effective support from the Vietnamese government, from central to local levels. They stated that Zamil has invested in Vietnam since 1993 and currently has three production facilities, accounting for 70% of steel exports in Southeast Asia. Having experienced successful investments in Vietnam, Zamil recognizes that its identity aligns with Vietnamese values and wishes to expand its investment in Vietnam.
Congratulating Zamil on its effective investment and plans for expansion in Vietnam, the Prime Minister suggested that, along with expanding production, the Group should continue to diversify its products, supply chains, and distribution networks; promote the application of science and technology, and digital transformation for green and clean production, environmental protection, and sustainable development. The Prime Minister also requested Zamil to invite more Saudi Arabian and international businesses to invest and conduct business in Vietnam…
The Prime Minister stated that Vietnam promotes development based on science and technology and innovation; prioritizes the development of high-tech industries, green transformation, digital transformation, and environmental protection; is focusing on perfecting institutions, promoting the development of strategic infrastructure, reforming administrative procedures, and training high-quality human resources, thereby helping businesses reduce production costs, input costs, increase labor productivity, and improve investment efficiency; along with that, improving the quality of social infrastructure such as healthcare, culture, and education, ensuring welfare for investors.
* Following that, Prime Minister Pham Minh Chinh held a working meeting with the leaders of the Saudi Arabian Agricultural and Livestock Investment Company - SALIC.
Appreciating Vietnam's development strategy and the important foundations that create favorable conditions for businesses to invest and develop effectively, the SALIC company leadership stated that they have made indirect investments in Vietnam through partners. Accordingly, the company has imported and distributed approximately 100,000 tons of Vietnamese goods to other countries.
A company representative stated that SALIC is committed to global food security and is the largest exporter of red meat in South America, exporting to over 100 countries. SALIC wishes to expand cooperation and investment in Vietnam, especially in the production, processing, and export of rice, animal feed, poultry, livestock, and aquaculture; and is ready to share technology and exchange experience with Vietnamese partners in this field.
Welcoming SALIC Company's investment plan in Vietnam, Prime Minister Pham Minh Chinh stated that Vietnam is continuing to improve its institutions in a fair and transparent manner; prioritizing priority sectors in line with new development trends; and promoting breakthroughs in strategic infrastructure, including hard and soft infrastructure, in the direction of "open policies, seamless infrastructure, and smart governance".
In addition, Vietnam ensures political stability, security, and national defense, so that businesses can confidently pursue long-term investment strategies in Vietnam without worry.
The Prime Minister stated that, amidst the current global challenges, thanks to appropriate steps and choices, Vietnam's socio-economic situation has achieved outstanding and comprehensive results: macroeconomic stability, inflation control, and the maintenance of major balances. Notably, despite a decline in global investment, Vietnam has still attracted approximately 35-40 billion USD in foreign investment, with disbursed capital reaching 23-25 billion USD this year.
Currently, Vietnam has signed 17 free trade agreements with most of the world's major economies. As a result, Vietnam's trade has grown significantly, with exports projected to reach approximately US$800 billion in 2024, placing it among the top 18-20 largest trading economies in the world.
Welcoming SALIC's cooperation and investment in Vietnam, especially in the agricultural sector, the Prime Minister requested SALIC to send a delegation to conduct on-site research and work specifically with relevant Vietnamese agencies to develop concrete projects.
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