 Prime Minister Pham Minh Chinh attends the Vietnam-Saudi Arabia Business Forum in Riyadh on October 19, 2023.(photo: VNA) |
The forum was co-organized by the Vietnamese Ministry of Planning and Investment, the Vietnamese Embassy in Saudi Arabia, and the Federation of Saudi Chambers (FSC).
Prime Minister Pham Minh Chinh told the forum that after nearly 40 years of renewal, Vietnam has become the 4th largest economy in ASEAN, one of the 20 economies with the largest trade scale in the world, a leading exporter of rice and many agricultural products in the world, and a participant of 16 Free Trade Agreements with most of the world's major countries and economies.
Since the beginning of the year, in the face of high inflation in many countries, Vietnam has strived to maintain macroeconomic stability, control inflation, promote growth, and ensure major economic balances. Vietnam has received positive assessment by the international community and investors for its growth prospects and favorable business environment.
 The Vietnam-Saudi Arabia Business Forum in Riyadh. (photo: VNA) |
Prime Minister Chinh said Saudi Arabia is Vietnam's most important partner in the Middle East. Vietnam is also an important partner and a bridge between Saudi Arabia and ASEAN.
He expressed his hope that the two countries will coordinate closely to enable their businesses to participate in each other's markets and penetrate into ASEAN and GCC. Vietnam is committed to ensuring the legitimate rights of foreign businesses, including those from Saudi Arabia, said Mr. Chinh.
"We commit to ensuring the legitimate right and interest of Saudi Arabian investors in line with our Constitution and laws. We’ll accompany investors to develop and enhance their interests in Vietnam. We always stand side by side with investors in difficult times, harmonize interests, and share risks with them. We welcome investors to Vietnam. I believe that after this forum, the relations between ASEAN, including Vietnam, and the Gulf countries, including Saudi Arabia, will be the gateway for each other to enter ASEAN and the Gulf region," said Mr. Chinh.
Prime Minister Chinh witnessed the signing of an MoU between the Vietnam Chamber of Commerce and Industry and the Federation of Saudi Chambers, an MoU on the expansion of Zamil Construction Steel Vietnam Company in the 2023-2030 period, and MoU between Vietravel and ITL Travel Company, and MoU on trade cooperation between the Trade Office, the Vietnamese Embassy in Saudi Arabia and Data Management Cooperation Company.