PM encourages Zamil Group’s operation expansion in Vietnam
VOV.VN - Prime Minister Pham Minh Chinh received leaders of Zamil Group and Zamil Steel Vietnam upon his arriving in Riyadh on October 18 for the first summit between ASEAN and the Gulf Cooperation Council (GCC) and a working trip to Saudi Arabia.
Founded in 1920, Zamil is one of Saudi Arabia’s largest industrial groups that specializes in general construction, paints, plastics, petrochemicals, shipbuilding, and port management. The group now employs more than 12,000 people in 60 countries.
Zamil Steel established a representative office in Ho Chi Minh City in 1993 and built its first factory at Noi Bai Industrial Park in Hanoi in 1997. Later, Zamil Industrial Investment Group (ZIIG) and Mitsui & Co., Ltd teamed up to establish wholly foreign invested joint venture Zamil Steel Vietnam.
Currently, Zamil Steel Vietnam is operating two factories with a total capacity of 120,000 tonnes of steel per year. It employs more than 1,000 employees, and boasts a business network expanding to 10 Southeast Asian countries plus Bangladesh.
At the meeting, Abdul Rahma Al Zamil, chairman of Zamil Group, thanked Vietnam for supporting Zamil Steel Vietnam’s operations in the country. He briefed the PM on the group’s investment plan, and proposed that the government create conditions for the group to export its products through Vietnam to other countries in the region.
Chinh for his part welcomed Zamil’s operation expansion plan in Vietnam, and asked it to continue to further promote its corporate social responsibility, modernize production technology, and increase the ratio of high, sustainable and environmentally friendly technology in its products.
He briefed the CEO on Vietnam’s market development potential driven by high economic growth, large population with a rapidly growing middle class, and people’s improved income.
In addition, Vietnam has joined 16 free trade agreements (FTAs) bilaterally and multilaterally with major powers and free trade areas worldwide. It has a favourable geographical location, a complete seaport, airport and logistics system connected to major markets in the region and the world, and a conducive investment and business environment.
The government has issued many important economic development policies and guidelines, especially in priority areas such as green economy, circular economy, high technology, digital transformation, innovation, and startups.
The PM asked Zamil to share experiences, connect and encourage other Saudi Arabian firms to invest, produce and do business in Vietnam.
The Government of Vietnam is committed to accompanying and creating favourable conditions for foreign investors, including Zamil Group, to carry out business investment activities in compliance with local regulations, he assured the CEO.
