The event brought together more than 25 Saudi Arabian businesses from sectors such as renewable energy, finance and banking, real estate, trade and services, investment, and high-tech agriculture, many of which are studying or planning to expand investment in Vietnam along with Vietnamese companies operating in Saudi Arabia, leaders of ministries and sectors, and representatives of the two countries’ business councils.

In his address, the Deputy PM emphasized the goal of elevating bilateral ties to a new height, with economic cooperation at the core. He commended the coordination among the Ministry of Finance, the Ministry of Foreign Affairs, the Vietnamese Embassy in Saudi Arabia, and the Saudi-Vietnam Business Council in organizing the event.

Dung said Vietnam has carried out strong reforms and remains committed to maintaining the “flame of reform” to move toward becoming one of the two countries with the best investment environment in Southeast Asia.

Assessing that trade and investment relations between the two sides have yet to match their potential, he called on businesses of both countries to step up exchanges and cooperation, while reaffirming the Vietnamese Government’s assurance of a safe, transparent, and efficient investment environment.

In 2024, Vietnam and Saudi Arabia signed a memorandum of understanding on economic and trade cooperation, creating a legal framework to promote linkages in areas such as supply chain development, industry, and the digital economy. The two countries share many similarities in strategic position and development vision, complementing each other’s potential on the path toward sustainable prosperity. In this spirit, Deputy PM Dung outlined five key directions for cooperation.

First, strengthening economic connectivity, including opening direct air routes and boosting cooperation in tourism and services. Second, promoting trade, particularly Saudi Arabia’s imports of Vietnamese agro-fishery products, supporting access to the Halal market, and exploring the development of Halal industrial zones in Vietnam, while expediting negotiations on a bilateral free trade agreement.

Third, enhancing cooperation in renewable energy and encouraging Saudi Arabian businesses to invest in solar, wind, green hydrogen, and energy storage projects. Fourth, expanding investment in science and technology, innovation, the digital economy, smart cities, financial centers, and free trade zones.

Dung also invited investment in large-scale integrated tourism complex projects in Vietnam. Fifth, reinforcing the role of enterprises and associations as bridges for cooperation, and promoting cultural exchanges, trade promotion, delegation exchanges, and cooperation in digital transformation.

He affirmed that with its long-term vision and strong aspiration for growth, Vietnam regards cooperation with Saudi Arabia as a key driver for development in the new era. The Vietnamese Government pledges to accompany and facilitate Saudi investors to pursue long-term, sustainable, and effective business operations in Vietnam.

Prior to the roundtable, Deputy PM Nguyen Chi Dung met with Ahmed Al-Theeb, Chairman of the Saudi-Vietnam Business Council, to discuss strategic cooperation orientations for the time ahead.

Vietnam bolsters ties in quality measurement standards with UAE and Saudi Arabia

VOV.VN - A delegation from the Ministry of Science and Technology (MoST) led by Minister Huynh Thanh Dat held a recent bilateral working session with the United Arab Emirates (UAE) Ministry of Industry and Advanced Technology (MoIAT) and signed a Technical Cooperation Program with the Saudi Standards, Metrology and Quality Organization (SASO).