- Saudi Minister visits Vietnam to enhance industry and mining collaboration.
- Meetings focus on trade, innovation, and industrial partnerships.
- Visit aligns with Vision 2030 and Vietnam’s industrial strengths.
Saudi Minister of Industry and Mineral Resources Bandar Alkhorayef commenced his official visit to Vietnam on Monday, heading a prominent delegation from the Saudi industry and mineral resources sector, following his visit to China.
The three-day trip seeks to improve collaboration in industry, advanced manufacturing, mining, and sustainable development fields. The trip underscores Saudi Arabia's dedication to enhancing economic collaborations with Southeast Asian countries while promoting the Kingdom's Vision 2030 goals for economic diversification.
The ministerial trip begins in Hanoi with a range of high-level government meetings. The schedule starts with talks between Alkhorayef and Deputy Prime Minister Bui Thanh Son, reinforcing the strategic significance of the partnership. Alkhorayef will hold a meeting with Minister of Industry and Trade Nguyen Hong Dien, centering on enhancing bilateral trade and industrial cooperation.
The delegation will subsequently hold discussions with Minister of Science and Technology Nguyen Manh Hung to focus on collaboration in innovation, research, and industrial modernization. While on his official visit, Alkhorayef will lead a business roundtable hosted by the Saudi Ministry of Industry and Mineral Resources in collaboration with the Vietnam Chamber of Commerce and Industry (VCCI), aimed at fostering discussions on partnerships in logistics, advanced manufacturing, and joint ventures among private-sector leaders from Saudi Arabia and Vietnam.
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The visit emphasizes the alignment between Vietnam's vibrant industrial economy and Saudi Arabia's Vision 2030 reform agenda. Vietnam serves as a crucial hub for Saudi investments, totaling over $1.92 billion, highlighting the strong historical economic ties between the two nations.
Both countries have complementary economic advantages: Vietnam's strong manufacturing skills, proficiency in key areas such as automotive and mining, along with its National Strategy for the Fourth Industrial Revolution, match Saudi Arabia's emphasis on minerals and industrial diversification.