Strategically located in the Arabian Gulf region, Kuwait is considered a link connecting global energy transport routes. With oil reserves currently at 101.5 billion barrels, the 6th largest in the world and the 10th largest daily oil production scale, Kuwait has been maintaining the development of this key economic sector, maintaining its position as the world's leading oil exporting country.
Since establishing diplomatic relations nearly 50 years ago, Vietnam and Kuwait have maintained a tradition of mutual support and assistance at international forums, while promoting cooperation in many fields. Investment and trade are highlights in Vietnam-Kuwait relations.
To date, Kuwait is the Middle Eastern country with the largest total investment capital in Vietnam, typically the Nghi Son Refinery and Petrochemical Plant project with Kuwait's capital contribution of up to 3.5 billion USD. Importing a large amount of oil from Kuwait helps ensure a stable supply for the production activities of the Nghi Son plant. In 2024, trade turnover between the two countries will reach 7.3 billion USD, the highest level in trade between Vietnam and countries in the Middle East.
Since establishing diplomatic relations nearly 50 years ago, Vietnam and Kuwait have maintained a tradition of mutual support and assistance at international forums, while promoting cooperation in many fields. Investment and trade are highlights in Vietnam-Kuwait relations.
In addition, the two countries have maintained cooperation in many other areas. Over the years, the Kuwait Fund has supported essential infrastructure projects in Vietnam, with a total value of 182 million USD through 15 projects in many provinces and cities. In the field of local cooperation, the two countries have signed a number of cooperation agreements, such as between Ho Chi Minh City and Ahmadi province, Thanh Hoa province and Farwaniya province, etc., thereby promoting delegation exchanges, trade promotion and people-to-people exchanges.
In the field of education and training, the Kuwaiti Government has granted scholarships to many Vietnamese students to study Arabic at Kuwait University every year since 2013.
In addition to traditional areas of cooperation, Vietnam and Kuwait still have a lot of room to develop potential areas such as oil and gas and energy. In the context of the world shifting strongly to renewable energy, Vietnam and Kuwait have many opportunities to cooperate in developing green energy, clean energy, meeting the international goals and commitments of each country. The two countries can jointly research and invest in solar power, wind power and green hydrogen projects, taking advantage of Kuwait's financial strength and Vietnam's production and technical capacity.
In the coming time, the two countries can promote cooperation in major projects, creating new financial centers in the region. Vietnam can become a gateway for Kuwait to expand investment to Southeast Asia, while Kuwait plays the role of a strategic partner to help Vietnam access the Middle East and neighboring markets.
Vietnamese Ambassador to Kuwait Nguyen Duc Thang
Kuwait is currently the Chair of the Gulf Cooperation Council (GCC). Recently, this Gulf country has adjusted its policies, paying more attention to Asian countries, including the ASEAN group. Kuwait proactively participated in signing the Treaty of Amity and Cooperation in Southeast Asia (TAC) in September 2023. In the two GCC-ASEAN summits in October 2023 and May 2025, Kuwait played an active role, participating in many important issues in cooperation between the blocs.
The Kuwait Investment Authority (KIA) manages the world’s fourth-largest sovereign fund with approximately $1,065 billion in assets, playing a key role in allocating investments abroad. With its dynamic economy and attractive investment environment, Vietnam hopes to become a more attractive destination for Kuwaiti investment funds.
According to Vietnamese Ambassador to Kuwait Nguyen Duc Thang, in the coming time, the two countries can promote cooperation in major projects, creating new financial centers in the region. Vietnam can become a gateway for Kuwait to expand investment to Southeast Asia, while Kuwait plays the role of a strategic partner helping Vietnam access the Middle East and neighboring markets.
Source: https://baolamdong.vn/viet-nam-co-the-tro-thanh-cua-ngo-de-kuwait-mo-rong-dau-tu-sang-dong-nam-a-402904.html
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