Saudi Arabian investment encouraged for deep processing of Vietnamese farm produce

Hanoi (VNA) - Vietnam is implementing various programmes on Halal food and will create excellent conditions for Saudi Arabian firms to invest in the development of deep processing of farm produce in Vietnam.

Vietnam asked the Saudi Arabian side to provide information on market and taste requirements so as to create a favourable business environment, supporting Vietnamese farm produce in meeting the needs of the Halal food market in Saudi Arabia.

This is one of the contents of the working session between Deputy Minister of Agriculture and Rural Development Tran Thanh Nam and a working delegation of the Riyadh Chamber of Commerce & Industry - IT Dep. led by its head Abdullah I. Alkhorayef on broadening bilateral agriculture cooperation.

At the session, Nam asked the delegation to inform the Saudi Food and Drug Authority (SFDA) on sending experts to Vietnam. The idea is that the Saudis can assess the food safety control system on aquatic product cultivation chains at the earliest date possible. Once this is completed, they can lift the suspension on the import of Vietnam’s farmed aquatic products.

According to Nam, Halal food is attracting much attention from Southeast Asian countries. Vietnam is also implementing many programmes in this field, and the ministry hopes to study information on the market and tastes on Halal food so as to roll out measures aimed at creating a favourable business environment, supporting Vietnamese farm produce in accessing the Halal food market in Saudi Arabia.

Nam also proposed policies to accelerate the mutual recognition of Halal certification by Vietnamese Halal certification authorities, and that the Saudi Arabian side focus on aquatic and husbandry products.

Besides, the ministry also pledged to create every conditions for Saudi Arabia to directly invest or establish joint ventures in the field of agriculture, and build deep processing establishments in Vietnam. They could also bring in farm machinery, and buy farm products such as rice, aquatic products, coffee, pepper, tropical vegetables and fruits, to process in Vietnam and then export to Saudi Arabia and other countries in the Middle East.

The ministry also said it hopes to join the Saudi Food Show 2024 to be held in Saudi Arabia. Leading officials of the ministry asked the host side to provide space for about 10 Vietnamese firms to set up the “Vietnam National Pavilion”. This will allow for a showcase of Vietnam’s strong products to be exported to Saudi Arabia and other countries in the Middle East, and to create chances for firms to establish contacts.

Abdullah I. Alkhorayef highlighted the deep relationship between the two countries in the recent past, and expressed his belief that they have great potential for cooperation in the field of commerce, especially agriculture.
He said that the country, through the Saudi Fund for Development (SDF), has implemented programmes providing agricultural support for several countries, including Vietnam, with the aim of strengthening the relations between Saudi Arabia and Vietnam.

The 5th meeting of the Vietnam-Saudi Arabia Joint Committee will be convened in December to discuss a roadmap on strengthening trade and export between the two countries, especially the import of Vietnam’s agro-aquatic products.

The Saudi Arabian representative said food and agriculture occupies a relatively high portion of the country’s economy, adding it is also interested in intensifying cooperation with Vietnam, especially through the private sector.
Currently, Saudi Arabia has great demand for importing Vietnam’s farm produce, such as coffee beans. Besides, the two countries are also enjoying ample chances to cooperate as Vietnam’s rice is very suitable to the Saudi Arabian market./.