VINACHEM

Viet Nam and Saudi Arabia have signed a Memorandum of Understanding (MoU) to establish a long-term mechanism for cooperation in trade, industry, investment, digital economy.

The MoU was signed by Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Saudi Minister of Economy and Planning Faisal bin Fadhil Al-Ibrahim in Riyadh under the presence of Vietnamese Prime Minister Pham Minh Chinh.

Saudi Arabia ranks 79th out of 148 countries and territories investing in Viet Nam, with total registered capital of US$8.57 million.

Saudi Arabia is Viet Nam's third largest trading partner in the Middle East, with the two-way trade reaching US$2.21 billion in the first nine months this year./.