Saudi Arabian PM hails Vietnam as dynamic economic development model in Asia
Saudi Arabian PM hails Vietnam as dynamic economic development model in Asia
Crown Prince and Prime Minister of Saudi Arabia Mohammed bin Salman bin Abdulaziz Al Saud praised Vietnam as a typical country with dynamic economic growth in Asia during his talks with Vietnamese Prime Minister Pham Minh Chinh in Riyadh on Tuesday.
Vietnamese Prime Minister Pham Minh Chinh (L) speaks during his talks with Crown Prince and Prime Minister of Saudi Arabia Mohammed bin Salman bin Abdulaziz Al Saud in Riyadh on October 29, 2024. Photo: Doan Bac / Tuoi Tre |
The meeting took place as part of Chinh’s trip to Saudi Arabia from October 29-30 for participating in the eighth Future Investment Initiative Summit and paying a working visit to the country.
The Saudi Arabian leader welcomed PM Chinh’s trip and also highly appreciated his attendance at the summit, where he is the only high-ranking leader in Asia to deliver a speech.
The host commented that the participation of Vietnam as a model of dynamic economic development in Asia will open new opportunities for investors, making an important contribution to the success of the summit and the development strategy in the region.
PM Chinh congratulated Saudi Arabia on its achievements in realizing Vision 2030 and extended the best regards from Party General Secretary To Lam, State President Luong Cuong, and National Assembly Chairman Tran Thanh Man to King Salman bin Abdulazi Al Saud.
Both PMs highlighted the fruitful developments in the Vietnam-Saudi Arabia relations over the past 25 years and committed to close cooperation to elevate the bilateral relationship to a new height.
The two sides pledged to prioritize economic cooperation as a key pillar in the bilateral relationship, aiming to position Saudi Arabia as one of the top investors in Vietnam and push two-way trade to over US$10 billion by 2030.
The host and guest identified the pillars of ‘future cooperation’ between the two countries are innovation, green transformation, and digital transformation, while also boosting the collaboration in education, tourism, labor and people-to-people exchange.
They agreed to strengthen exchanges at all levels, and continue coordinating and supporting each other on regional and world issues at international forums, especially the United Nations.
The Vietnamese PM called on Saudi Arabia to invest in strategic, iconic, and breakthrough projects in Vietnam, and consider the building of a transit and storage center for crude oil and petrochemical products in Vietnam for export to markets in the Southeast Asian region.
He also called on joint efforts to develop Vietnam's Halal industry, considering this a key task that contributes to both ensuring food security and creating opportunities to best exploit the Halal market in the world.
The Vietnamese government leader proposed connecting innovation centers of the two countries, coordinating in launching international technology exhibitions, joining hands in building an innovation ecosystem in Vietnam, and sharing experiences in establishing an international financial center in Ho Chi Minh City.
The host agreed with Chinh’s proposals and asked the two nations’ concerned agencies to discuss concrete steps to realize them, contributing to beefing up bilateral cooperation.
The Saudi Arabian leader also promised to create favorable conditions for the Vietnamese community living and working in Saudi Arabia, enabling them to serve as a bridge for the friendly relationship between the two nations.
PM Chinh invited the Saudi Arabian Crown Prince and PM to visit Vietnam at a convenient time, which the host accepted with pleasure.
Currently, Saudi Arabia is Vietnam's third-largest trading partner in the Middle East-North Africa region, with bilateral trade hitting $2.68 billion last year.
As of June 2024, Saudi Arabia had eight investment projects worth $8.57 million in the Southeast Asian country.
