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| The forum was attended by nearly 750 delegates, including leaders of ministries, sectors, localities, investors, businesses, representatives of organizations and business associations from both sides. (Photo: Tuan Viet) |
On the afternoon of September 11, in Hanoi, the Ministry of Foreign Affairs coordinated with the Saudi Arabian Embassy in Hanoi and the Riyadh Chamber of Commerce and Industry (Saudi Arabia) to organize the Vietnam-Saudi Arabia Business Forum. The forum was attended by nearly 750 delegates, including leaders of ministries, sectors, localities, investors, businesses, representatives of organizations and business associations of both sides, including more than 50 Saudi Arabian businesses operating in many fields such as energy, information technology, iron and steel industry, mining, industrial spare parts, construction, investment, healthcare, cosmetics, pharmaceuticals, tourism, human resources, transportation, retail, wood products, garment, agriculture, fisheries, information technology, etc.
This is also the largest business delegation from Saudi Arabia in particular and the Middle East in general to Vietnam to explore cooperation and business opportunities with Vietnamese localities and businesses.
Speaking at the Forum, Deputy Prime Minister Tran Luu Quang welcomed the initiative to organize the largest trade and investment promotion event between Vietnam and Saudi Arabia in recent years. The Deputy Prime Minister affirmed that this is a clear demonstration of the determination of leaders at all levels and the business community to bring bilateral relations to a new height.
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| Deputy Prime Minister Tran Luu Quang speaks at the Forum. (Photo: Tuan Viet) |
Four pillars of cooperation, three key task groups
Deputy Prime Minister Tran Luu Quang affirmed that, implementing the policy of comprehensive, deep and effective international integration, the Vietnamese Government is actively implementing many policies to develop relations with countries in the Middle East and Africa, opening up the Halal Islamic market, creating new momentum for economic cooperation with Islamic countries in the world in general, as well as Islamic countries in the Middle East, including Saudi Arabia in particular.
Appreciating the fact that Saudi Arabian enterprises visited and worked at important economic establishments in Hanoi and Hai Phong to directly seek practical opportunities in areas of mutual interest, the Deputy Prime Minister asked the delegates to actively discuss opportunities and challenges and propose solutions to effectively implement the four pillars of cooperation, including: increasing trade turnover, especially import and export turnover of goods according to Halal standards; encouraging investment in the fields of energy, high technology, heavy industry and food industry; promoting cooperation in information technology, digital transformation and telecommunications; creating momentum for tourism and labor cooperation in a sustainable, effective and high-quality direction.
At the same time, the Deputy Prime Minister outlined three key tasks: perfecting the legal framework and policies to create a favorable environment for economic cooperation; enhancing the sharing of information on markets, cooperation opportunities, business practices and legal regulations in investment and business; effectively organizing activities connecting localities and enterprises; creating favorable conditions for localities and enterprises to participate in programs and activities to promote and advertise trade, investment, tourism, etc. in each country.
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| Permanent Deputy Minister of Foreign Affairs Nguyen Minh Vu hopes that businesses from both sides will exploit the complementary capabilities of the two economies. (Photo: Tuan Viet) |
Permanent Deputy Minister of Foreign Affairs Nguyen Minh Vu emphasized that economic diplomacy focuses on people, businesses, and localities, contributing to expanding economic cooperation between Vietnam and friendly countries around the world, including Saudi Arabia, which is of special interest to the Vietnamese Government.
The Permanent Deputy Minister hoped that businesses from both sides would exploit the complementary capabilities of the two economies, effectively utilize the available potentials and opportunities brought about by the Forum; increase information sharing, connection, exchange and reach specific cooperation agreements.
Mr. Nguyen Minh Vu affirmed that the Ministry of Foreign Affairs and Vietnamese representative agencies abroad will continue to accompany and support Vietnamese enterprises and localities in promoting economic cooperation with partners in the Middle East region to bring about practical and effective cooperation results.
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| Saudi Arabian Ambassador to Vietnam Mohammed Ismaeil A. Dawhly affirmed that the two countries still have much room to further improve the effectiveness of trade and investment cooperation. (Photo: Tuan Viet) |
Open new and effective cooperation channels
Appreciating the active and proactive role of the Ministry of Foreign Affairs and other ministries, sectors and localities of Vietnam in organizing economic diplomacy activities, promoting trade, investment and connecting businesses, Saudi Arabian Ambassador to Hanoi Mohammed Ismaeil A. Dawhly emphasized that Saudi Arabia attaches importance to promoting friendly relations and multifaceted cooperation with Vietnam, affirming that the two countries still have much room to further improve the effectiveness of trade and investment cooperation.
The Ambassador said he will actively accompany and coordinate with the Ministry of Foreign Affairs and Vietnamese ministries, branches and localities to strengthen connections and support the business communities of the two countries to contact and seek business cooperation opportunities.
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| Head of the Saudi Arabian business delegation, Chairman of the Riyadh Chamber of Commerce's Industry Committee Abdullah Al Khorayef spoke at the Forum. (Photo: Tuan Viet) |
According to the Head of the Saudi Arabian Business Delegation, Chairman of the Riyadh Chamber of Commerce's Industry Committee Abdullah Al Khorayef, the participation of a large number of Saudi Arabian businesses in this visit shows the great interest of the Saudi Arabian business community in potential economic cooperation opportunities with Vietnam; he believes that the Forum will open a new and effective cooperation channel for the business communities of both sides.
Within the framework of the Forum, hundreds of direct exchanges and connections were made between Saudi Arabian enterprises and Vietnamese localities and enterprises in many fields such as energy, iron and steel industry, mining, industrial spare parts, construction, investment, healthcare, cosmetics, pharmaceuticals, sports, tourism, human resources, transportation, retail, wood products, garment, agriculture, fisheries and information technology.
Standing Vice Chairman of Ben Tre Provincial People's Committee Nguyen Truc Son shared about the potential and cooperation opportunities for Saudi Arabian enterprises in a locality of Vietnam in general and in Ben Tre in particular. Chairman of Zamil Steel Group Nawaf Mohammed Zamil informed Saudi Arabian enterprises about their business experience in Vietnam.
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| Exchange of cooperation documents between the Binh Phuoc Province Investment, Trade and Tourism Promotion Center and the Riyadh Chamber of Commerce and Industry within the framework of the Forum. (Photo: Tuan Viet) |
Economist Can Van Luc and Deputy Director of the Foreign Investment Agency, Ministry of Planning and Investment Ngo Van Su presented an overview of Vietnam's business environment and preferential policies to attract investment.
At the Forum, the Riyadh Chamber of Commerce and Industry, its associations and affiliated enterprises also signed cooperation documents with the Department of Industry and Trade of Ben Tre province, the Center for Investment, Trade and Tourism Promotion of Binh Phuoc province, the Hai Phong Young Entrepreneurs Association and the Department of Industry and Trade of Ninh Thuan province. Immediately after the Forum, enterprises of the two countries signed 4 memorandums of understanding on cooperation and 2 contracts. In addition, many other cooperation documents are being discussed.
| During the visit to Vietnam, the Saudi Arabian business delegation is expected to meet representatives of several Vietnamese ministries and economic sectors; work with leaders and businesses and visit Lach Huyen port in Hai Phong city; visit several industrial parks and large economic groups in Vietnam such as Vingroup and FPT... |
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