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PM receives leaders of Saudi Arabia’s groups and development funds

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(VOVWORLD) - Prime Minister Pham Minh Chinh received leaders of Saudi Arabia’s groups and investment funds in Riyadh, the capital of Saudi Arabia, on Thursday during his visit to Saudi Arabia to attend the Association of Southeast Asian Nations (ASEAN)-Gulf Cooperation Council (GCC) Summit.

PM receives leaders of Saudi Arabia’s groups and development funds - ảnh 1Prime Minister Pham Minh Chinh receives Executive Vice President of Aramco Yasser Mufti, October 19, 2023. (Photo: VNA) 

At a meeting with Executive Vice President of Aramco Yasser Mufti, PM Chinh welcomed Aramco’s plan to invest in Vietnam’s oil and gas sector, especially major petrochemical projects, and cooperate in trading oil, gas, and petrochemical products such as crude oil, liquefied gas, plastics, and fertilizer.

He called on Aramco to provide conditions for the Vietnam Oil and Gas Group (Petrovietnam) to participate in supplying oil and gas services in Saudi Arabia, seek large projects to jointly invest in, and assist with training oil and gas workers.

Mr. Mufti proposed that the Vietnamese Government create conditions for Aramco to expand investment in Vietnam, starting with permitting the group’s technical team to come survey the market.

PM receives leaders of Saudi Arabia’s groups and development funds - ảnh 2Prime Minister Pham Minh Chinh receives CEO of the Saudi Fund for Development (SFD) Sultan Al-Marshad. (Photo: VOV) 

In a separate meeting, CEO of the Saudi Fund for Development (SFD) Sultan Al-Marshad informed Chinh that the fund has implemented 13 projects in Vietnam over the past 13 years. He proposed that the Vietnamese Government continue to create favorable conditions for the fund to operate effectively in Vietnam and pledged more resources for projects in the country.

PM Chinh applauded the SFD’s preferential loans worth 165 million USD for Vietnam's ODA projects to improve infrastructure and raise the living standards of Vietnamese people in remote and disadvantaged areas.

While receiving Governor of the Public Investment Fund (PIF) of Saudi Arabia Al-Rumayyan in Riyadh, PM Chinh proposed that the Fund expand and diversify investment activities in Vietnam in digital transformation, green economy, circular economy, innovation, renewable energy, high tech, tourism, and the Halal industry.

Mr. Chinh urged the two sides to establish a joint fund for investment projects like those between Vietnam and Oman and several other countries, which have proved effective.

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