Trade relations between Kuwait and Vietnam have made satisfying progress, the Consulate of Kuwait in Ho Chi Minh City said in a statement released for the 54th anniversary of its independence day (February 25).

Trade exchange value between the two countries reached 691 million USD in 2014. Vietnam's exports to Kuwait in 2014 grew twice as much as the previous year, according to figures from the Vietnam Customs Bureau.

Omar Al-Qenaei, Consul General of Kuwait in HCM City, invited Vietnamese companies to make investments in a mega-development plan approved by the Government of Kuwait. The plan comprises 1,100 projects worth a total of 107.8 billion USD. It includes the creation of Silk City, a commercial hub and free trade zone with the capacity for 700,000 residents.

Kuwait and Vietnam established diplomatic relations in 1976.-VNA