The meeting was part of the Vietnamese PM’s participation in the 8th Edition of the Future Investment Initiative (FII8) and working visit to Saudi Arabia.
PM Chinh noted that he has held highly successful talks with Saudi Arabian Crown Prince and PM Mohammed bin Salman Bin Abdulaziz Al Saud, and both sides shared a common mindset, vision, and also respect for time and intelligence.
He applauded the progress in bilateral relations over the last 25 years, but acknowledged that economic, trade, and investment links have yet to match the sound political - diplomatic ties.
The two sides have agreed to elevate bilateral relations to a new height and step up the negotiation and signing of such agreements as those on free trade, labour cooperation, and investment protection. They have also assigned ministries and sectors to take swift action to soon realise the agreements reached between the countries’ leaders, he noted.
The PM asked the Saudi Arabian Ministry of Economy and Planning and the Vietnamese Ministry of Industry and Trade to quickly work together to finalise the negotiation of the agreements in a short period of time, helping bring economic collaboration on par with the political - diplomatic ties, as well as the 25-year relations between their countries.
He called on both sides to do as they say and reach concrete results as they pledge.
At the event, the Saudi Arabian official said his ministry and himself are highly interested in and have engaged in many discussions with the Vietnamese side to bolster bilateral economic, trade, and investment partnerships.
He voiced his belief that Vietnam and Saudi Arabia will fully tap into their potential under the leadership of their respective leaders, including PM Chinh and Crown Prince and PM Mohammed bin Salman Bin Abdulaziz Al Saud, to develop fast and sustainably.
The two sides should sketch out a plan and roadmap for economic cooperation, with specific agreements in each area such as the ones on investment protection, free trade, investment attraction, as well as agricultural, aquacultural, and fishing development, the minister suggested.
After the meeting, PM Chinh witnessed the Vietnamese Ministry of Industry and Trade and the Saudi Arabian Ministry of Economy and Planning sign a memorandum of understanding on economic and trade collaboration, establishing a long-term cooperation mechanism in the fields of trade, industry, investment, and digital economy, among others.
