State President Nguyen Minh Triet has promised to create favourable conditions for entrepreneurs from Vietnam and Saudi Arabia to expand cooperation and step up trade and investment ties.
President Triet delivered the strong commitment at a Vietnam-Saudi Arabia Business Forum that was held in the capital city of Riyadh upon his arrival in the oil-rich country for a three-day visit on April 10 (local time).
Saudi Arabia boasts a powerful economy and an important position in the world, he said, adding that Vietnam wishes to boost bilateral cooperation, especially in oil and gas, agriculture, infrastructure, finance and transport.
The State leader noted that economic, trade and investment relations have seen progress but remain modest compared with potentials of both nations. Seeking out opportunities to increase investments and promote economic and trade cooperation with Saudi Arabia was one of his visit’s biggest targets, he added.
Vietnam and Saudi Arabia had signed a framework agreement on economic, trade, investment and technological cooperation, laying the legal foundation for expanding the flow of goods and investments between the two nations.
Despite the adverse impacts of the global economic-financial crisis, two-way trade exceeded 460 million USD in 2009. Vietnam mainly exports garments, seafood, computers, electronic components, wooden furniture, iron and steel, while imports petroleum products, chemicals and liquefied gas from Saudi Arabia .
In terms of investment, two giant groups from Saudi Arabia are carrying out steel, real estate and hotel projects in Vietnam .
Vietnam and Saudi Arabia have recently fostered labour cooperation, under which around 7,000 Vietnamese workers have been sent to the Gulf country.
At the forum, President Triet witnessed the signing of a cooperation compact between the Vietnam Chamber of Commerce and Industry (VCCI) and the Saudi Council of Chambers of Commerce.
The same day, President Triet received President of the Saudi Arabian Basic Industries Corporation Prince Saud Bin Thuyan Al-Saud, President of the International Agriculture and Food Investments Corporation Osama Kurdi and President of the Zamil Group Abdul Rahman Al-Zamil.
Leaders of the Saudi Arabian firms expressed wish to invest in Vietnam and praised its open and attractive investment environment and described it as an important and strategic market.
President Triet’s visit is the first made by a head of Vietnamese State to Saudi Arabia since the two nations established diplomatic ties on October 21, 1999.
As a guest of King Abdullah Bin Abdul Aziz Al Saud, President Triet was greeted at the King Khalet Airport by Minister for Foreign Affairs Prince Saud Al-Faisal, Minister of Petroleum and Natural Resources Ali Al-Naimi and other senior officials of Saudi Arabia./.
President Triet delivered the strong commitment at a Vietnam-Saudi Arabia Business Forum that was held in the capital city of Riyadh upon his arrival in the oil-rich country for a three-day visit on April 10 (local time).
Saudi Arabia boasts a powerful economy and an important position in the world, he said, adding that Vietnam wishes to boost bilateral cooperation, especially in oil and gas, agriculture, infrastructure, finance and transport.
The State leader noted that economic, trade and investment relations have seen progress but remain modest compared with potentials of both nations. Seeking out opportunities to increase investments and promote economic and trade cooperation with Saudi Arabia was one of his visit’s biggest targets, he added.
Vietnam and Saudi Arabia had signed a framework agreement on economic, trade, investment and technological cooperation, laying the legal foundation for expanding the flow of goods and investments between the two nations.
Despite the adverse impacts of the global economic-financial crisis, two-way trade exceeded 460 million USD in 2009. Vietnam mainly exports garments, seafood, computers, electronic components, wooden furniture, iron and steel, while imports petroleum products, chemicals and liquefied gas from Saudi Arabia .
In terms of investment, two giant groups from Saudi Arabia are carrying out steel, real estate and hotel projects in Vietnam .
Vietnam and Saudi Arabia have recently fostered labour cooperation, under which around 7,000 Vietnamese workers have been sent to the Gulf country.
At the forum, President Triet witnessed the signing of a cooperation compact between the Vietnam Chamber of Commerce and Industry (VCCI) and the Saudi Council of Chambers of Commerce.
The same day, President Triet received President of the Saudi Arabian Basic Industries Corporation Prince Saud Bin Thuyan Al-Saud, President of the International Agriculture and Food Investments Corporation Osama Kurdi and President of the Zamil Group Abdul Rahman Al-Zamil.
Leaders of the Saudi Arabian firms expressed wish to invest in Vietnam and praised its open and attractive investment environment and described it as an important and strategic market.
President Triet’s visit is the first made by a head of Vietnamese State to Saudi Arabia since the two nations established diplomatic ties on October 21, 1999.
As a guest of King Abdullah Bin Abdul Aziz Al Saud, President Triet was greeted at the King Khalet Airport by Minister for Foreign Affairs Prince Saud Al-Faisal, Minister of Petroleum and Natural Resources Ali Al-Naimi and other senior officials of Saudi Arabia./.
