- PM Chinh urged KFAED to enhance collaboration in the industrial, green, and Halal sectors.
- KFAED commended Vietnam’s growth and agreed to form a joint working group for cooperation.
- Vietnam focuses on sustainable development, technology, AI, IoT, biotech, and marine economy.
Prime Minister Pham Minh Chinh urged the Kuwait Fund for Arab Economic Development (KFAED) to enhance collaboration with Vietnam, especially in industrial production, logistics, renewable energy, green economy, and the Halal ecosystem.
While speaking in Kuwait City at a meeting with KFAED director general Waleed Al-Bahar, the Prime Minister called on the fund to assist in linking Kuwaiti companies with opportunities in Vietnam and to support Vietnamese businesses in obtaining information and partnerships in Kuwait and the Middle East.
In reply, representatives from Al-Bahar and KFAED commended Vietnam’s socio-economic progress, business climate, and strategic outlook, and concurred on forming a joint working group to enhance cooperation and investment as per Chinh's proposal.
Al-Bahar highlighted the importance of enhancing public-private partnerships and innovative collaboration frameworks. He mentioned that the fund is keen on initiatives and projects that align with Vietnam's key sectors and asked for support to enhance cooperation through specific projects.
So far, KFAED has offered concessional loans and grants exceeding $183 million for 15 initiatives in Vietnam, aiding crucial infrastructure, social services, climate resilience, and enhanced living standards, especially in remote and underprivileged regions.
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PM Chinh expressed his admiration for Kuwait's successes in economic diversification and institutional reforms under Kuwait Vision 2035, and recognized KFAED's important role in this advancement.
The Vietnamese leader recommended that KFAED persist in aiding Vietnam in essential sectors such as social welfare, rural advancement, water supply and sanitation, health services, education, infrastructure resilient to climate change, and recovery after disasters.
He restated Vietnam's dedication to swift but sustainable progress rooted in science and technology, innovation, and digital transformation. The nation is also advancing green, circular, sharing, and knowledge-centered economic models, emphasizing developing sectors such as AI, semiconductors, IoT, big data, cloud computing, biotechnology, and the marine economy.