Tran Vinh Tuyen (R), Vice Chairman of the municipal People’s Committee and Khaled Al-Mutairi, Kuwaiti Consul General in Ho Chi Minh City at the ceremony (Photo: VNA)
HCM City (VNA) – Ho Chi Minh City will create optimal conditions for Kuwaiti businesses to invest and develop in the city, stated Tran Vinh Tuyen, Vice Chairman of the municipal People’s Committee.

Addressing a ceremony in Ho Chi Minh City on February 23 to mark Kuwait’s 56th National Day anniversary and its 26th Liberation Day, Tuyen expressed hope that Kuwait will become a gateway for HCM City firms to forge stronger cooperation with Persian Gulf countries.

He congratulated Kuwaiti people on achievements they have made so far, noting that Vietnam-Kuwait partnership has been growing in all fields, especially politics, economy and trade.

For his part, Khaled Al-Mutairi, Kuwaiti Consul General in Ho Chi Minh City said that the relations between Vietnam and Kuwait has progressed strongly, especially in trade and investment since the two sides set up their diplomatic ties in 1976.

He held that Kuwait’s investment in Vietnam will continue to surge in the coming time, calling on Vietnamese businesses to invest more in development projects in Kuwait, thus contributing to boosting the bilateral trade.

So far, Kuwait has invested 172 million USD in projects on infrastructure and rural development in remote and mountainous areas of Vietnam.

Kuwait has been one of the largest trade partners of Vietnam in the Middle East with two-way trade of about 184 million USD in 2016. The figure is expected to reach 2 billion USD in 2020 after Nghi Son oil refinery and the first Vietnam-Kuwait petrochemical project become operational. - VNA