Saudi Press

Saudi Arabia and the world
Monday, Jun 02, 2025

Saudi-Vietnamese trade ties boosted by Riyadh forum

Saudi-Vietnamese trade ties boosted by Riyadh forum

Saudi and Vietnamese business leaders from more than 40 companies met in Riyadh to discuss ways to increase their already flourishing health trade exchange volume, which stands at SR8.2 billion ($2.2bn).
The Saudi-Vietnamese Business Forum, held at the Federation of Saudi Chambers, saw the representatives of 21 Saudi companies and 20 from Vietnam discussing how to benefit from the opportunities provided by the Kingdom’s Vision 2030.

Vice-chairman of the Saudi Regional Business Council for Southeast Asian Countries Abdulghani Al-Rumaih praised the Saudi-Vietnamese Joint Committee and its reflection on the volume of trade exchange, which amounted to about SR8.2 billion in 2021, Saudi Press Agency reported. 

Saudi Arabia is a major market for the South-East Asian country and one of Vietnam’s important partners in the Middle East and Africa region. 

The Saudi-Vietnamese Joint Committee was launched in 2006 and it aims to discuss ways of cooperation in many areas that contribute to the development of the two countries.

Vietnam is among the fastest growing economies in Southeast Asia, with an average gross domestic product growth of between 6 and 7 percent prior to the COVID-19 pandemic.

The meeting comes in line with recent efforts by Saudi Arabia to increase linkages with international markets through establishing new bilateral organizations, as well as holding forums and meetings with countries including Finland, India, Uzbekistan, Thailand, France, Indonesia and Spain.

Speaking to Arab News earlier this year, Saad Al-Shahrani, the acting deputy minister for investment promotion in the Ministry of Investment of Saudi Arabia, said the Kingdom achieved an 18 percent increase in foreign direct investment in 2020, even as the global FDI declined by 35 percent due to the pandemic.

Saudi Arabia has enacted over 600 economic reforms since the launch of the Vision 2030 blueprint in a bid to attract SR12.4 trillion of cumulative investment and SR1.8 trillion in foreign direct investment inflows between 2021 and 2030 as part of the National Investment Strategy.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
×