Saudi Fund for Development Invests Over USD 165 Million in Vietnam
The Embassy of Saudi Arabia in Vietnam on November 6 held an event highlighting contributions of the Saudi Fund for Development (SFD) in Vietnam and the world, VNA reported.
Attending on Vietnam's side were Deputy Minister of Planning and Investment Tran Quoc Phuong and leaders of 12 provinces and cities with projects receiving support from the Saudi Fund for Development. On Saudi Arabian side were the Saudi Fund for Development delegation led by CEO of the SFD Sultan Al-Marshad, Ambassador Mohammed Ismaeil A. Dahlwy and officials.
|The Saudi Embassy in Vietnam on Monday organized an event highlighting the Saudi Fund for Development’s work in Vietnam.
Speaking at the event, Saudi Arabian Ambassador to Vietnam Mohammed Ismaeil A. Dahlwy said, founded in 1974, the SFD is a financial institution of the Saudi Arabian government that has played a significant role in providing funding for development projects in developing countries. It has so far funded over 800 projects and development programmes across various fields in 100 countries.
In Vietnam, the SFD has provided concessional loans for 12 projects, ranging from the construction and expansion of educational and healthcare facilities to the development of transportation infrastructure and upgrade of rural infrastructure affected by natural disasters, contributing to close ties between Saudi Arabia and Vietnam over the past 24 years.
As next year marks the 25th founding anniversary of bilateral diplomatic ties, Vietnamese Deputy Minister of Planning and Investment Tran Quoc Phuong expressed his belief that the SFD will continue playing as a bridge to foster Vietnam – Saudi Arabia ties, aiming for new cooperation opportunities that align with the priorities of both sides.
|Delegates pose for group photo. Source: Saudi Arabian embassy to Vietnam
On the occasion, CEO of the SFD Sultan Al-Marshad announced that the Ha Nam Vocational College project, funded by the SFD with a budget of over USD 9 million, was inaugurated in the afternoon of the same day.
The college project will include lecture training halls housing the latest technology, staff and student residential facilities, as well as upgrades to road, water, and sanitation services, the Saudi Press Agency reported.
|CEO of the Saudi Fund for Development Sultan Al-Marshad inaugurates Ha Nam Vocational College. Source: Ha Nam TV
Responding to increased demand for vocational training in Ha Nam and neighboring provinces, the initiative aims to help students find jobs or start their own businesses, while contributing to achieving sustainable development goals in relation to tackling poverty and equality issues, providing quality education, and meeting economic growth targets.
Speaking at the opening ceremony, Al-Marshad said, “Education is key to unleashing human potential and driving economic growth, as vocational training is a vital part of education paths, to train young men and women and develop their skills.
“We are proud to support the expansion of the vocational college, which will help to ensure that more young men and women receive high-quality training to support them build a prosperous future.”
|Delegates took souvenir photos with officials, teachers, and students of Ha Nam Vocational College in front of the Mechanical Practice workshop. Source: Ha Nam TV
Vice Chairman of Ha Nam Provincial People's Committee expressed his belief that this will be a good college to meet the training and learning requirements in technical and vocational fields for students in the coming time. From there, it contributes to reducing the unemployment rate and improving the lives of young people in Vietnam, as well as promoting the country's economic growth.
Ha Nam province will always actively accompany, create all conditions, and support mechanisms and policies for the college, thereby contributing to promoting the economic development of the province, building Ha Nam province to become one of the leading center for training high-quality human resources in the region.
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