Politics

Vietnam, Saudi Arabia vow to boost cooperation

PM expressed hope that Saudi Fund for Development continues to assist capital sources invested in Vietnam.

Prime Minister Nguyen Tan Dung has expressed hope that the Saudi Fund for Development will continue to assist capital sources invested in Vietnam and promote its cooperation with Saudi Arabia in trade, investment, labour and other fields.

PM Dung made the remarks at a reception given to visiting Saudi Arabian Finance Minister Ibrahim Abdulaziz Al-assaf, who is also chairman of the Saudi Fund for Development, in Hanoi on October 9.

During the meeting, Dung pledged that the Government of Vietnam will create favourable conditions for Saudi Arabian investors to gain successful results in Vietnam.

Al-assaf informed the host of two loan agreements with the Saudi Fund for Development which he signed with his Vietnamese counterpart Vuong Dinh Hue in Hanoi earlier on the same day.

The Minister said the fund will continue providing capital for investment projects in Vietnam, especially major projects in infrastructure and energy. He expressed hope that two countries will also strengthen cooperation in oil and gas, and agriculture.

The two newly-signed loan agreements, totalled 116 million SAR (about 30.94 million USD), is for the contruction of two roads linking Thach Kim and Hien Hoa, and Xuan Phuoc and Phu Hai communes in the central provinces of Quang Tri and Phu Yen, respectively.

Saudi Arabia has so far provided loans worth 213 million SAR (56.8 million USD) through the fund for four projects in Vietnam.-VNA

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