Saudi Gazette report

HANOI — Minister of Industry and Mineral Resources Bandar Alkhorayef met with Vietnamese Deputy Prime Minister Bui Thanh Son in Hanoi on Monday.

They discussed ways to expand economic partnership and enhance cooperation in the industry and mining sectors. The meeting underscored the importance of enabling the private sector to capitalize on mutual investment opportunities in the industry and mining sectors and of strengthening the role of the Saudi-Vietnamese Business Council in fostering joint investments.

Vietnam is considered as a key destination for Saudi investments, which exceed $1.92 billion and cover several sectors, including energy, industry, and technology. During the meeting, the officials discussed opportunities for knowledge exchange, investment attraction, and technology transfer across several promising sectors, including food industries and halal products, in addition to enhancing cooperation in research, innovation, and advanced manufacturing technologies such as artificial intelligence.

The meeting highlighted the competitive advantages of the Kingdom’s industrial investment environment and the enablers and incentives offered to facilitate investors’ journeys. It also reviewed the Kingdom’s strategic assets that make it a promising destination for industrial investments, including its geographic location connecting three continents, abundance of natural resources, competitive energy prices, advanced infrastructure, and modern industrial cities.

The Saudi minister's official visit to Vietnam aims to broaden the scope of economic cooperation and attract high-quality investments to the Kingdom.