Minister Of Industry Begins Official Visit To Vietnam To Enhance Industrial And Mining Partnerships

Saudi Arabia's Minister of Industry and Mineral Resources, Bandar bin Ibrahim Alkhorayef, is visiting Vietnam from September 28 to 30, 2025. This visit aims to boost cooperation in industry, advanced manufacturing, mining, and sustainable development. The trip aligns with Saudi Arabia's Vision 2030 goals to diversify its economy and strengthen ties with Southeast Asian countries.

The Saudi-Vietnamese Joint Committee, formed in 2006, plays a vital role in enhancing economic relations. Its next meeting is set for 2026 in Riyadh. The committee focuses on collaboration in sectors such as industry, mining, investment, tourism, and agriculture. Trade between the two nations has grown significantly, rising from $2.55 billion in 2016 to $3.76 billion in 2024.

Alkhorayef's visit begins with key meetings in Hanoi. He will engage with Deputy Prime Minister Bui Thanh Son to emphasize the strategic importance of their relationship. Discussions with Minister of Industry and Trade Nguyen Hong Dien will focus on boosting trade and industrial cooperation between the two countries.

The minister will also meet Nguyen Manh Hung, Minister of Science and Technology. Their talks will address innovation, research collaboration, and industrial modernization efforts. These discussions aim to deepen cooperation in these critical areas.

During his visit, Alkhorayef will lead a business roundtable organized by the Saudi Ministry of Industry and Mineral Resources alongside the Vietnam Chamber of Commerce and Industry (VCCI). This event will facilitate dialogue on partnerships in logistics, advanced manufacturing, and joint ventures between Saudi and Vietnamese private-sector leaders.

The delegation plans strategic meetings with prominent Vietnamese companies like VINFAST (automotive), VAFIE (economic cooperation), and Vinafood II (halal food processing). These engagements aim to explore collaboration opportunities in automotive supply chains, halal-certified food production, industrial zone development, and sustainable manufacturing practices.

Aligning Strategic Visions

Vietnam is a significant destination for Saudi investment, which exceeds $1.92 billion. This reflects the depth of their long-standing economic relations. Vietnam's strong manufacturing capabilities align well with Saudi Arabia's focus on minerals and industrial diversification under Vision 2030.

The Kingdom offers Vietnamese companies access to Middle Eastern markets through its strategic location and investment-friendly policies. This mutual compatibility creates opportunities for partnership in advanced manufacturing, renewable energy, mining, and trade cooperation.

This diplomatic initiative not only strengthens government relations but also fosters business-to-business connections. It reinforces Saudi Arabia's role as a global industrial hub while supporting Vietnam's economic growth.

With inputs from SPA