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Deputy PM attends Viet Nam-Saudi Arabia Business Forum

VGP - Deputy Prime Minister Tran Luu Quang on Monday attended Viet Nam-Saudi Arabia Business Forum - the biggest trade and investment promotion event held between the two nations over the recent years.

Posts Thuy Dung

September 12, 2023 11:08 AM GMT+7
Deputy PM attends Viet Nam-Saudi Arabia Business Forum - Ảnh 1.

Deputy Prime Minister Tran Luu Quang and delegates to the forum pose for family photo, Ha Noi, September 11, 2023 - Photo: VGP

The forum, with the participation of more than 500 delegates from both sides' ministries, agencies, localities and businesses, has manifested the determinations of the two countries' leaders to lift the economic ties to a higher level.

Saudi Arabia is one of the top economic partners of Viet Nam in the Middle East. The bilateral trade hit US$2.7 billion in 2022, up 32.4 percent against the previous year. 

However, the achievement is still modest and yet matches the two sides' expectations, noted Tran, suggesting the two nations support each other in launching economic structural transformation process and realizing long-term development goals. 

The Deputy Prime Minister expressed his hope that Viet Nam-Saudi Arabia economic ties will make breakthroughs in the time ahead. 

Tran proposed four cooperation pillars in the bilateral relations, including:

(i) Increasing trade turnover, especially import-export turnover of agricultural products and food in line with Halal standards

(ii) Encouraging investment in each other's markets in fields of energy, high technology, heavy industry and food industry

(iii) Promoting cooperation in information technology, digital transformation, digital infrastructure and telecommunications

(iv) Creating new momentum for tourism and labor cooperation in a sustainable, effective and high-quality manner

Addressing the event, Saudi Arabian Ambassador to Viet Nam Mohammed Ismaeil A. Dahlwy said, over the last 24 years since the establishment of diplomatic ties, the two nations have become crucial partners and both sides have supported each other at international and multi-lateral forums./.