Vietnam, Saudi Arabia strengthen investment, economic, trade cooperation
(VOVWORLD) - Prime Minister Pham Minh Chinh met with Saudi Arabia’s Minister of Investment, Khalid bin Abdulaziz Al-Falih, and Minister of Economy and Planning, Faisal bin Fadhil Al-Ibrahim while attending the 8th Future Investment Initiative Conference (FII8) in Riyadh on Wednesday.
The Prime Minister suggested that Saudi Arabia and Saudi Arabian investment funds participate in key investment projects in Vietnam (Photo: VOV) |
Meeting with Minister Khalid, the Prime Minister emphasized Vietnam’s priority to expand investment ties with the Middle East, with a focus on Saudi Arabia. He urged rapid progress on the investment protection agreement and shared experience on creating an attractive, equitable investment environment. He also called for Saudi participation in major projects, including a petroleum distribution hub for Southeast Asia and renewable energy initiatives.
Minister Khalid highlighted the effectiveness of Saudi investments in Vietnam and pledged to expedite discussions on cooperation documents and project implementation.
Later, in his meeting with Minister Faisal, the Prime Minister stressed that economic ties should match the strong political relationship between the two countries. Under the Prime Minister’s witness, Vietnam and Saudi Arabia signed a Memorandum of Understanding on Economic and Trade Cooperation, establishing a framework for collaboration in trade, industry, investment, and digital economy.