Riyadh (VNA) - Vietnamese Deputy Prime Minister Nguyen Chi Dung on October 28 attended the opening of the 9th edition of Future Investment Initiative (FII) conference in Riyadh, Saudi Arabia, and met with Saudi Arabian Minister of Economy and Planning Faisal bin Fadhil Al-Ibrahim as well as representatives of major Saudi Arabian corporations and investment funds as part of his working trip to the Middle East nation.
The FII is one of the world’s most prominent annual investment forums. This year's conference gathered over 20 heads of state, government officials, and more than 9,000 delegates from nearly 100 countries, including policymakers, leaders of multinational corporations and sovereign wealth funds.
Themed “The key to prosperity: unlocking new frontiers of growth,” the 9th edition discusses global economic and investment trends shaping the future, focusing on emerging technologies, artificial intelligence (AI), sustainable development, and energy transition.
Dung’s participation underscores Vietnam’s commitment to proactive international integration, positioning itself as a reliable partner and attractive investment destination. It provides an opportunity for Vietnam to present its dynamic business environment, new incentive policies, and priority national projects aimed at attracting high-quality capital from the Middle East and beyond.
Meeting with Minister Fadhil Al-Ibrahim, Dung commended Saudi Arabia’s achievements in diversifying its economy beyond oil, advancing science, technology, and innovation, and prioritising sustainable and green growth.
He emphasised that Vietnam is undergoing its own economic restructuring and growth model transformation, and expressed interest in learning from Saudi Arabia’s experience.
The Deputy PM suggested the Saudi Arabian Ministry of Economy and Planning to continue promoting economic, trade and investment cooperation, as well as promoting the strengths and complementarities of the two economies.
Regarding trade cooperation, he urged Saudi Arabia to increase imports of Vietnamese agricultural and seafood products, support Vietnamese firms in accessing the Halal goods and services market, and expand Halal industrial zones in Vietnam.
He also proposed collaboration in solar and wind energy, green hydrogen production, and energy storage technologies, inviting Saudi Arabian sovereign funds, state-owned enterprises, and private firms to explore investment opportunities in Vietnam, particularly in financial centres, free trade zones, smart cities, and digital and knowledge economy. Dung affirmed that the Vietnamese Government is committed to maintaining a stable, transparent, and favourable environment for Saudi Arabian investors.
Calling both Vietnam and Saudi Arabia dynamic economies representing Southeast Asia and the Middle East, Dung urged closer coordination between the Saudi Arabian Ministry of Economy and Planning and Vietnamese agencies to connect the two economies for mutual benefit, as well as for the broader interests of the Association of Southeast Asian Nations and the Gulf region.
Earlier, on October 27, the Deputy PM visited the Digital Cooperation Organisation (DCO), an intergovernmental body promoting global digital policy and strategy, where he highlighted the vital role of digital economy. He said Vietnam aims for digital economy to contribute about 20% of GDP, stressing that the country’s fast-growing economy and abundant workforce create favourable conditions for digital cooperation and breakthroughs.
The same day, Dung met with Hassan Hallas, Co-founder and CEO of Lyve Global and Co-Founder & Partner at We Build Ventures, and Emad Mostaque, Founder and CEO of Intelligent Internet (II). At these meetings, he proposed that Lyve Global and Vietnamese firms develop digital logistics and payment platforms to support e-commerce and trade, and encouraged We Build Ventures to partner with the National Innovation Centre (NIC) to invest in local startups.
Dung also suggested Intelligent Internet collaborate with Vietnamese agencies to pilot a strategic programme on open computing and sovereign AI infrastructure, reaffirming Vietnam’s commitment to a stable and transparent environment for international investors, including Lyve Global, WeBuild Ventures, and Intelligent Internet./.
