(VOVWORLD) -Vietnamese Deputy Prime Minister Nguyen Chi Dung met with Saudi Arabian Minister of Economy and Planning Faisal bin Fadhil on Tuesday, within the framework of the 9th Future Investment Initiative conference in Riyadh, Saudi Arabia.
 Deputy Prime Minister Nguyen Chi Dung chairs the Vietnam - Saudi Arabia Investment Roundtable. (Photo: VGP) |
Mr. Dung said Vietnam and Saudi Arabia hold important strategic positions in their respective region as Saudi Arabia as a center of the Middle East and Vietnam as a center of ASEAN and both have a dynamic and open economy. Vietnam can contribute human resources, labor, and strengths in agriculture, industry, and services, while Saudi Arabia can provide financial resources.
He expressed his hope that bilateral trade will reach 10 billion USD by 2030. He suggested that two sides promote cooperation in energy and tourism and create favorable conditions for investors and enterprises to maximize efficiency in Vietnam.
Mr. Al-Ibrahim proposed greater cooperation in energy, healthcare, artificial intelligence (including digital government services), and defense. He said many Saudi businesses are interested in Vietnam and several business delegations have already visited Vietnam to promote trade.
He agreed that Vietnam and the Gulf Cooperation Council should soon begin negotiations for a free trade agreement that will boost bilateral trade.