Prime Minister Pham Minh Chinh works with major Saudi Arabian enterprises

According to a special correspondent of the Vietnam News Agency, on the occasion of attending the 8th Future Investment Initiative (FII8) Conference and visiting and working in the Kingdom of Saudi Arabia, on the morning of October 30 (local time), in the capital Riyadh, Prime Minister Pham Minh Chinh worked with large enterprises of Saudi Arabia to promote investment cooperation.

* During the meeting with the leaders of Zamil Group - the largest industrial investment group in Saudi Arabia with presence in 60 countries around the world , the leaders of Zamil Group thanked the effective support of the central and local governments of Vietnam for Zamil. They said that Zamil has invested in Vietnam since 1993 and now has 3 production facilities, with output accounting for 70% of steel export output in Southeast Asia. During the favorable investment process in Vietnam, Zamil realized that Zamil's identity is consistent with Vietnamese values; and wishes to expand investment in Vietnam.

Prime Minister Pham Minh Chinh received Mr. Abdulla Mohammed Al Zamil, Chairman of Zamil Industrial Investment Company. Photo: Duong Giang/VNA

Congratulating Zamil on its effective investment and plans to expand its investment in Vietnam, the Prime Minister suggested that, along with expanding production, the Group should continue to diversify its products, diversify its supply chain, and diversify its distribution chain of Zamil products; promote the application of science, technology, and digital transformation for green production, clean production, environmental protection, and sustainable development. The Prime Minister suggested that Zamil invite more Saudi Arabian and international enterprises to invest and do business in Vietnam...

The Prime Minister said that Vietnam promotes development based on science and technology, innovation; prioritizes the development of high-tech industries, green transformation, digital transformation, environmental protection; is focusing on perfecting institutions, promoting strategic infrastructure development, reforming administrative procedures, training high-quality human resources, thereby helping businesses reduce production costs, reduce input costs, increase labor productivity, investment efficiency for businesses; along with that, perfecting and improving the quality of social infrastructure such as health care, culture, education, etc., ensuring welfare for investors.

* Next, Prime Minister Pham Minh Chinh worked with leaders of the Saudi Arabia Agricultural and Livestock Investment Company - SALIC.

Appreciating Vietnam's development strategy as well as the important foundations that create favorable and effective conditions for businesses to invest and develop in Vietnam, the leader of SALIC Company said that it has indirectly invested in Vietnam through partners. Accordingly, the company has imported and distributed to other countries about 100,000 tons of Vietnamese goods.

The company representative said that SALIC carries out the mission of global food security, is the largest red meat exporter in South America, exporting to over 100 countries, SALIC wishes to expand cooperation and investment in Vietnam, especially in the production, processing, and export of rice, animal feed, poultry, livestock, and aquaculture; and is willing to share technology and exchange experiences with Vietnamese partners in this field.

Prime Minister Pham Minh Chinh received Mr. Sulaiman bin Abdulrahman AlRumaih, General Director of the Saudi Arabia Agricultural and Livestock Investment Company (SALIC). Photo: Duong Giang/VNA

Welcoming SALIC Company's investment policy in Vietnam, Prime Minister Pham Minh Chinh said that Vietnam is continuing to improve its institutions, towards fairness and transparency; prioritizing priority areas according to new development trends; promoting strategic infrastructure breakthroughs including hard infrastructure and soft infrastructure, in the direction of "open policies, smooth infrastructure, smart governance".

Along with that, Vietnam ensures political stability, security and national defense so that businesses can confidently have a hundred-year investment strategy in Vietnam without worry.

The Prime Minister said that in the current world situation with many impacts, thanks to appropriate steps and choices, Vietnam's socio-economic situation has achieved outstanding and comprehensive achievements: stabilizing the macro economy, controlling inflation, ensuring major balances. Notably, in the context of a decline in total global investment, Vietnam still attracts about 35 - 40 billion USD of foreign investment, with disbursed capital reaching 23 - 25 billion USD this year.

Currently, Vietnam has signed 17 free trade agreements with most of the world's major economies. Thanks to that, Vietnam's trade has grown remarkably, with Vietnam's export forecast to reach about 800 billion USD in 2024, ranking in the Top 18-20 economies with large trade scale in the world.

Welcoming SALIC's cooperation and investment in Vietnam, especially in the agricultural sector, the Prime Minister requested SALIC to send a working delegation to conduct field research and work specifically with relevant Vietnamese agencies to have specific projects.

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