More Vietnamese firms interested in Saudi Arabia: Ambassador

In an interview granted to the Vietnam News Agency, Vietnamese Ambassador to Saudi Arabia Dang Xuan Dung affirmed that in 2024 trade and investment cooperation continues to be a highlight in the bilateral relations.

Saudi Arabia is now one of Vietnam's most important partners in the Middle East, with bilateral trade reaching over 2.82 billion USD in the first 11 months of 2024. Notably, Vietnam recorded a trade surplus of over 152 million USD.

In terms of investment, at the end of October, FPT became the first Vietnamese company to open a regional office in Riyadh, laying the foundation for its operation expansion in the promising market of information technology (IT) and artificial intelligence (AI). Recently, the Vietnam Oil and Gas Group (Petrovietnam) signed a cooperation agreement with Saudi Aramco, one of the largest oil corporations in the world, and both parties are swiftly planning to implement this document. Vietnamese construction companies have won sub-contracts for mega construction projects in the Middle East country, while many others are participating in bidding for other projects, said the diplomat.

Prime Minister Pham Minh Chinh made two successive visits to Saudi Arabia in 2023 and 2024. There is an agreement between the leaders of both countries to upgrade the bilateral relationship in the near future, the ambassador said, expressing his belief in the bright prospects for bilateral cooperation in 2025 and the following years.

There is new momentum and ample room for stronger and more comprehensive cooperation in trade, investment, labour, and tourism, he said.

He once again emphasised the great potential for trade and investment cooperation that should be further tapped as both countries are pushing forward with plans to modernise and persify their economies in the digital economy era. This requires increasing proactivity from both sides, particularly from businesses and investors.

In 2025, labour collaboration will also thrive as the number of skilled Vietnamese workers going to Saudi Arabia under contract is projected to rise, supporting the country’s demand for human resources to effectively implement its Saudi Vision 2030, Dung believed.

He went on to say that people-to-people exchanges and tourism cooperation are also expected to see encouraging results as more Saudi Arabian tourists are showing interest in visiting Vietnam, combining travel with exploring business opportunities.

Last week, the Vietnamese Embassy in Saudi Arabia, in collaboration with the Department of Cultural Diplomacy and UNESCO under the Ministry of Foreign Affairs, successfully organised the Vietnam Culture Day helping to strengthen cultural and people-to-people exchanges between the two countries, he said.

The ambassador said he believes the outcomes of these activities will gradually be reflected in the increasing number of Saudi Arabian tourists to Vietnam in the coming time.

The ambassador proposed the two countries soon finalise agreements on investment protection, labour, and the establishment of a business council, which will undoubtedly lay the foundation for deepening the bilateral economic and trade relations./.