Industry Minister Bandar Bin Ibrahim Alkhorayef Concludes Official Visit To Vietnam To Boost Economic Relations

Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef recently wrapped up an official visit to Vietnam. The trip focused on enhancing economic ties, fostering cooperation in industry and mining, and exploring investment opportunities. Alkhorayef led a high-level delegation from Saudi Arabia's industry and mining sectors during this visit.

Alkhorayef engaged with top Vietnamese officials, including the deputy prime minister and the minister of industry and trade. Discussions centred on strengthening industrial and mining relations, alongside boosting collaboration in research, innovation, and advanced manufacturing technologies like artificial intelligence.

The minister also held meetings with leaders from major Vietnamese companies such as VinFast, Masan Group, Southern Food Corporation, and the Vietnam Association of Foreign Invested Enterprises. These discussions aimed at expanding investment partnerships and technology transfer in sectors like mining, electric vehicles, food industry, and halal products.

During his visit, Alkhorayef participated in the Saudi-Vietnamese Business Forum. This event saw the signing of five investment agreements between Saudi and Vietnamese firms. These agreements cover various fields including construction, infrastructure development, furniture manufacturing, and human resources development.

The minister's visit aligns with Saudi Vision 2030's objectives to transform Saudi Arabia into a leading industrial power and a global hub for mining. This vision aims to achieve these goals by building international partnerships, transferring advanced technologies, and attracting high-quality foreign investments.

This strategic engagement underscores Saudi Arabia's commitment to fostering international collaborations that support its ambitious economic transformation plans. By focusing on key areas such as technology transfer and investment expansion, the Kingdom seeks to enhance its industrial capabilities while strengthening bilateral ties with Vietnam.

With inputs from SPA