2017: Vietnam pledges favourable conditions for Kuwaiti investors

The Kuwaiti Consulate held a reception in Ho Chi Minh City on Thursday (Feb. 23rd) to mark Kuwait’s 56th Independence Day (February 25th, 1961-2017) and its 26th Liberation Day.

(VNF) - The Kuwaiti Consulate held a reception in Ho Chi Minh City on Thursday (Feb. 23rd) to mark Kuwait’s 56th Independence Day (February 25th, 1961-2017) and its 26th Liberation Day.

The ceremony saw the participation of the Consul General, Khaled Al-Mutairi; Vice Chairman of the municipal People’s Committee, Tran Vinh Tuyen, and representatives of international organizations, leaders of business groups, entrepreneurs, and Kuwaiti expatriates.

2017: Vietnam pledges favourable conditions for Kuwaiti investors

Mr. Tran Vinh Tuyen, Vice Chairman of the municipal People’s Committee, congratulated the people and Government of Kuwait on the occasion of their National days. (Source: VNA)

Addressing a ceremony, Vice Chairman Tran Vinh Tuyen congratulated the Kuwaiti people on achievements they have made so far, noting that the Vietnam-Kuwait partnership has been growing in all fields, especially in politics, economy and trade.

“HCMC is always willing to support Kuwaiti entrepreneurs and businesses as well as other international ones when you come to invest in Vietnam,” he said.

“We believe that the bilateral and multi-faceted relations between Kuwait and Vietnam will develop constantly.”

Mr. Tuyen also expressed hope that Kuwait will become a gateway for HCM City firms to forge stronger cooperation with Persian Gulf countries.

2017: Vietnam pledges favourable conditions for Kuwaiti investors

Mr. Khaled Al-Mutairi, Kuwaiti Consul General in HCM City said he expects the two-way trade to cross USD 2 billion in the years to come. (Source: VNA)

For his part, Khaled Al-Mutairi, Kuwaiti Consul General in HCM City said that Kuwait and Vietnam have enjoyed a close relationship since 1976 when the Kuwait Fund for Arab Economic Development started to provide funds for a number of infrastructure projects in Vietnam.

Since then, the relations between two countries have thrived, with mutual visits by leaders and high-ranking officials from the two countries.

He held that Kuwait’s investment in Vietnam will continue to surge in the coming time, calling on Vietnamese businesses to invest more in development projects in Kuwait, thus contributing to boosting bilateral trade.

So far, Kuwait has invested USD 172 million in projects on infrastructure and rural development in remote and mountainous areas of Vietnam.

2017: Vietnam pledges favourable conditions for Kuwaiti investors

Vice Chairman Tran Vinh Tuyen and representatives from Kuwaiti Consul General in the city join in a group photo at the celebration. (Source: VNA)

Kuwait has been one of the largest trade partners of Vietnam in the Middle East with two-way trade hitting

2017: Vietnam pledges favourable conditions for Kuwaiti investors
USD 184 million in 2016. The figure is expected to reach USD 2 billion in 2020 after Nghi Son Oil Refinery and Petrochemical Complex and the first Vietnam-Kuwait petrochemical project become operational./.

Translated by Minh Phuong

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