The Federation of Saudi Chambers, in Riyadh, organized the activities of the “Saudi-Vietnamese Business Forum” with the participation of the Prime Minister of Vietnam, Pham Minh Chinh. Also with the participation of more than 150 ministers, officials, and representatives of Saudi and Vietnamese companies, during which the investment opportunities available in both countries were reviewed, with a focus on the targeted sectors.
The Prime Minister of Vietnam noted that his country is witnessing major economic development and reform, and is also linked to strategic partnerships with the G20 countries, in addition to 16 international agreements to promote trade and investment. He noted the importance of relations with the Kingdom and his country’s aspiration to attract more Saudi investments in light of the investment environment and facilities provided offered by Vietnam to foreign investors.
For his part, the President of the Federation of Saudi Chambers, Hassan Al-Huwaizi, said that Saudi-Vietnamese relations have witnessed a great development, reflected in the increase in the volume of trade exchange until it reached $ 3.2 billion in 2022, while the Kingdom is Vietnam's second-largest trading partner in the Middle East. He considered that the competitive advantages enjoyed by the Saudi and Vietnamese economies and the initiatives and projects of "Vision 2030" create promising areas of partnership between the two countries.
The forum witnessed the signing of a number of cooperation agreements, most notably an agreement between the Federation of Saudi Chambers and the Vietnamese Chamber of Commerce and Industry with the aim of strengthening economic and trade relations between the Kingdom and the Republic of Vietnam, as well as a number of agreements between Saudi and Vietnamese companies.
Source (Federation of Saudi Chambers Website, Edited)
