(VNA/VOVworld) – The Saudi Arabian Fund for Development will assist Vietnam in completing two road projects in Quang Tri and Phu Yen province at a cost of approximately 31 million USD.

Vuong Dinh Hue and Ibrahim Abudulaziz Alassf signing agreements (Photo: MOF)

Two loan agreements were signed in Hanoi yesterday by Vietnamese Finance Minister Vuong Dinh Hue and his Saudi Arabian counterpart Ibrahim Abudulaziz Alassf who is also the fund’s chairman. The Saudi Arabian Fund for Development is funding projects in 70 countries including Vietnam and anticipates to further cooperation with Vietnam. To date, Saudi Arabia has given Vietnam 4 loans totaling 57 million USD. This is the first time the Saudi Finance Minister has visited to Vietnam.