The Vietnam-Saudi Arabia Business Forum attracts the participation of nearly 500 delegates (Photo: baoquocte.vn)

These Saudi Arabian firms mainly operate in fields such as energy, information technology, the iron and steel industry, mining, industrial spare parts, construction, healthcare, cosmetics, pharmaceuticals, tourism, and natural resources, transportation, retail, furniture, garments, agriculture, fisheries, and information technology.

This represents the largest business delegation from Saudi Arabia, as well as the Middle East region in general, to visit Vietnam as part of efforts to explore investment opportunities in Vietnamese localities.

During their stay in Vietnam, Saudi Arabian businesses are expected to visit a number of industrial zones, export processing zones, seaports, and businesses in several provinces.

There will be also business-to-business (B2B) and business-to-people (B2P) sessions being held during the event in order to help firms strengthen trade connectivity, along with a space set up to display advantageous products of Vietnamese businesses and localities.

Saudi Arabia makes up also one of the nation’s leading economic and trade partners in the Middle East region. Two-way trade turnover last year reached over US$2.7 billion,  an increase of 32.4% compared to 2021.

A number of large Saudi Arabian corporations have since invested in the Vietnamese market in the fields of real estate, energy, and steel.

Over recent years, more Saudi Arabian businesses have been keen to boost co-operation with the country in such fields as trade, investment, energy, seaports, Halal food, and tourism.