20 Vietnamese companies express interest in investing in Saudi Arabia

Saudi and Vietnamese Business Forum - Investment

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20 Vietnamese companies expressed their desire to invest in the Kingdom and benefit from the opportunities provided by Vision 2030, this came during the meeting of Saudi - Vietnamese Business Forum, which took place with the participation of more than 41 companies from both sides at the headquarters of the Federation of Saudi Chambers.

Abdulghani Al-Rumaih, Vice President of the Saudi Regional Business Council for Southeast Asia, praised the relations between the Kingdom and Vietnam and the agreements signed between them and the work of the Saudi-Vietnamese Joint Committee and the reflection of this on the volume of trade exchange, which reached about 8.2 billion riyals in 2021.

For her part, Nguyen Minh Phuong, Deputy Director General of the Asia and Africa Department of the Ministry of Industry and Trade of Vietnam, explained that the Kingdom is Vietnam's second largest trading partner in the Middle East, and that the import and export structures of products between the two countries are based on integration rather than competition.

For her part, Nguyen Minh Phuong, Deputy Director General of the Asia and Africa Department of the Ministry of Industry and Trade of Vietnam <She pointed out that Vietnamese companies have a great opportunity to increase their exports of agricultural and industrial products to the Saudi market, calling on Saudi companies to study the possibility of investing in Vietnam to produce and export the needs of the Saudi market. <She stressed the need for companies in both countries to develop effective business strategies to overcome the constraints of geographical distance, lack of market information, differences in business practices, and the development of transportation suitable for market conditions.