On the afternoon of October 30 (local time), in the capital Riyadh, Saudi Arabia, Prime Minister Pham Minh Chinh received Saudi Arabian Minister of Investment Khalid bin Abdulaziz Al-Falih.
According to VNA, Prime Minister Pham Minh Chinh affirmed that Vietnam attaches importance to expanding investment cooperation with the Middle East region, in which Saudi Arabia is one of the top focuses.
The Prime Minister requested the Minister to pay attention to promoting rapid negotiations on the investment protection agreement between the two countries; exchange experiences in creating a favorable, equal and attractive investment and business environment; soon agree with the Vietnamese Ministry of Planning and Investment on the content of the memorandum of understanding on cooperation on direct investment and concretize the contents with an action plan, setting out specific goals to promote investment relations between the two countries in the coming time.
Prime Minister Pham Minh Chinh proposed that Saudi Arabia and Saudi Arabian investment funds, with their capacity, resources and influence, study and participate in implementing key projects in Vietnam's investment call list; including building a center for storing and distributing petroleum products for Southeast Asia in Vietnam and implementing renewable energy projects according to existing plans.
The Saudi Arabian Minister of Investment was pleased with the very good personal relationship between Crown Prince and Prime Minister of Saudi Arabia Mohammed bin Salman Bin Abdulaziz Al Saud and Prime Minister Pham Minh Chinh and the agreements reached during the "historic" talks between the two leaders during this visit.
According to Minister Khalid bin Abdulaziz Al-Falih, many Saudi Arabian investors such as Zamil Steel Group have been doing business effectively in Vietnam, proving that Vietnam is a stable and attractive place for investors to do long-term business. Saudi Arabian agencies and enterprises are ready to actively discuss with Vietnamese agencies and partners to speed up negotiations, agree on cooperation documents, and implement projects in the areas mentioned by the Prime Minister, including the construction of a center for storing and distributing petroleum products.
The Minister and representatives of major Saudi Arabian enterprises attending the meeting presented opportunities, proposed ideas and cooperation plans in various fields, especially Halal, electricity, digital transformation, and electric vehicle manufacturing.
The leader of ACWA Power Group emphasized that ACWA Power wants to cooperate long-term with Vietnam, including human resource training, and is ready to invest 5 billion USD with facilitation from Vietnam.
Prime Minister Pham Minh Chinh pledged that Vietnam will act faster and respond more promptly to investors’ requests; and welcomed the Saudi Arabian Minister and businesses to visit and work in Vietnam to implement specific cooperation projects.
At the request of the Minister, Prime Minister Pham Minh Chinh said he would assign leaders of the Ministry of Planning and Investment to attend the investment promotion conference of Saudi Arabia in the coming time.
