Hanoi: Minister of Industry and Mineral Resources Bandar Alkhorayef met in Hanoi with Vietnamese Deputy Prime Minister Bui Thanh Son, as part of his official visit to the Socialist Republic of Vietnam. The meeting focused on expanding economic partnership and enhancing cooperation in the industry and mining sectors.
According to Saudi Press Agency, the meeting emphasized the importance of enabling the private sector to capitalize on mutual investment opportunities in the industry and mining sectors. It also highlighted the role of the Saudi-Vietnamese Business Council in fostering joint investments. Vietnam is a key destination for Saudi investments, which exceed $1.92 billion and cover several sectors, including energy, industry, and technology.
During the discussions, officials explored opportunities for knowledge exchange, investment attraction, and technology transfer across promising sectors such as food industries and halal products. They also discussed enhancing cooperation in research, innovation, and advanced manufacturing technologies, including artificial intelligence.
The meeting further highlighted the competitive advantages of the Kingdom's industrial investment environment, as well as the enablers and incentives offered to facilitate investors' journeys. Discussions included the Kingdom's strategic assets, such as its geographic location connecting three continents, abundance of natural resources, competitive energy prices, advanced infrastructure, and modern industrial cities.
The minister's official visit to Vietnam aims to broaden the scope of economic cooperation and attract high-quality investments to the Kingdom.