Scene at the meeting between the Kuwait Chamber of Commerce and Industry and a visiting Vietnamese business delegation (Photo: KUNA) Hanoi (VNA) – Kuwait and Vietnam are ready topromote bilateral economic and trade relations, the Kuwait News Agency said,citing comments by Fahad Al-Joan, a member of the Kuwait Chamber of Commerceand Industry.
Talking to reporters on the sidelines of a meeting with avisiting Vietnamese business delegation, the official said there are agreementsbetween the sides for the future expansion of Kuwait's direct investment inVietnam, adding that Kuwait – Vietnam trade revenue amounted to 500 million USDin 2017.
Mentioning oil investments, he said Kuwait has 150 fuelstations in Vietnam, which is predicted to hit 300 in the future.
Meanwhile, Ahmad Al-Qattan, CEO's Representative of the KuwaitPetroleum International, said the Vietnam Refinery, one of the biggest externalprojects launched by the Kuwaiti oil sector, would be operational on May 11, withits total cost estimated at 9 billion USD.
He said the refinery is expected to become a booster forbilateral investment relations.
The facility has an estimated production capacity of 200,000barrels per day, he said, revealing a plan to push the figure to 400,000barrels per day in the future.-VNA
VNA
