Vietnam - Saudi Arabia increase investment and trade cooperation

On the afternoon of September 4, within the framework of the working visit to Vietnam of Dr. Abdullah Ali Al-Dubaikhi, Assistant Minister of Investment of Saudi Arabia, Deputy Foreign Minister Nguyen Minh Hang had a working session with the delegation.

Deputy Foreign Minister Nguyen Minh Hang received Dr. Abdullah Ali Al-Dubaikhi, Assistant Minister of Investment of Saudi Arabia. (Photo: Jackie Chan)

Appreciating the working trip to Vietnam by the Assistant Minister of Investment of Saudi Arabia, Deputy Minister Nguyen Minh Hang said that with the relationship between the two countries taking new steps forward, especially after the visit of Prime Minister Pham Minh Chinh to Saudi Arabia in October 2024, this is an opportunity for large corporations and enterprises of Saudi Arabia to survey the market and learn about investment opportunities in Vietnam.

The Deputy Minister affirmed that the Vietnamese Ministry of Foreign Affairs will closely coordinate with the Ministry of Finance and relevant ministries and branches to promote the implementation of commitments, especially investment cooperation proposals that have been exchanged between high-ranking leaders of the two countries.

To further facilitate the investment cooperation environment between the two countries, Deputy Minister Nguyen Minh Hang suggested that the Saudi Arabian Ministry of Investment accelerate the negotiation of agreements and memorandums of understanding in the fields of investment and trade; sign specific investment projects, including studying investment possibilities, establishing Halal industrial zones in Vietnam and promoting the Gulf Cooperation Council (GCC) to soon agree on negotiating a Free Trade Agreement (FTA) between Vietnam and the GCC...

The Ministry of Foreign Affairs delegation took a souvenir photo with the Saudi Arabia delegation. (Photo: Jackie Chan)

Saudi Arabia's Assistant Minister of Investment Dr. Abdullah Ali Al-Dubaikhi appreciated the support of the Vietnamese Ministry of Foreign Affairs in promoting cooperation between the two countries.

With Saudi Arabian businesses increasingly interested in Vietnam, Dr. Abdullah Ali Al-Dubaikhi said that this visit to Vietnam by the Ministry of Investment and the Saudi Arabian business delegation aims to survey the market, seek opportunities to promote Saudi Arabia's investment in Vietnam and hopes to work with Vietnamese businesses to implement projects that can participate in the global supply chain.

Agreeing with the proposals of Deputy Minister Nguyen Minh Hang, the Assistant Minister of Investment of Saudi Arabia affirmed that he will actively promote cooperation with ministries, branches and enterprises of Saudi Arabia to further enhance the effectiveness of bilateral cooperation in all fields, especially in the field of investment.

Source: https://baoquocte.vn/viet-nam-saudi-arabia-tang-cuong-dau-tu-hop-tac-thuong-mai-326693.html