Policymakers and businesses from Vietnam , the Middle East and North Africa will gather at a forum in Hanoi on November 4-5 to seek ways to better their cooperation, especially on economics, trade and investment for common prosperity.

As one of the most important external economic events in Vietnam this year, the forum is a manifestation of the Vietnamese Government’s attention to economic ties with Middle East and North African countries.
Middle East – North Africa , with a population of over 520 million, is a market of great potential for Vietnam’s goods.

Despite their geographical distance, Vietnam and countries in the Middle East and North Africa have long established friendly relations, which serve as the foundation for them to develop all-round ties during recent years.

Vietnam has established diplomatic relations with most of the countries in the region and all-level visits have been maintained between the two sides.

Two-way trade between Vietnam and the region hit 7.4 billion USD last year, up 87 percent from 10 years ago. Bilateral trade between Vietnam and some regional countries has already surpassed 1 billion USD each year.

Investors from the Middle East are pouring capital in several major projects in Vietnam , such as the Nghi Son refinery and petrochemical complex, Long Son oil refinery complex, Ha Long Star hotel and Hiep Phuoc container port in Ho Chi Minh City.

Meanwhile, the Vietnam National Oil and Gas Group is conducting an oil and gas exploration and exploitation project in Algeria . About 26,000 Vietnamese labourers are working for infrastructure projects in the region.

The forum on economic cooperation between Vietnam and the Middle East-North African aims to brief guest businesses on the country’s economic policies and investment opportunities while giving policy makers a chance to meet and exchange views on how to boost ties and cooperation.

Participating businesspeople are also expected to extend their contact bases and reach cooperation deals.-VNA