Kuwait looks to increase investments in Vietnam - Kuwait looks to increase investments in Vietnam - Website Ho Chi Minh City
With its existing “Look East” policy, Kuwait will pour more investments into Vietnam in the coming years, said Omar Al-Qenaei, Kuwaiti Consul General in Ho Chi Minh City.
At the February 26 ceremony marking the 54th National Day and the 24th anniversary of the Liberation Day of Kuwait, Omar Al-Qenael reviewed the bilateral ties between Vietnam and his country in recent years, saying that this sees increased developments in all fields.
Vice Chairman of the municipal People’s Committee Le Thanh Liem, in his speech, congratulated the State of Kuwait and its people on their achievements, affirming that the municipal authority is willing to assist Kuwaiti businesses in their operations in Vietnam.
He said the successful organisation of a workshop in the city last December to provide Vietnamese firms with necessary information on market opportunities in Kuwait helped Vietnamese firms and investors make deeper inroads into the potential market.
The launch of an Arabic training programme in University of Social Sciences and Humanities – Vietnam National University, Ho Chi Minh City with the support of the Kuwaiti Consulate General has promoted cultural exchange between Vietnam and the Arab world, Liem added.
Kuwait and Vietnam established diplomatic relations in 1976.
Two-way trade between the two nations hit around 691 million USD in 2014, with Vietnam’s exports to Kuwait doubling that of 2013.
Vietnam mainly shipped farm and aquatic products, vegetables and fruits, green tea, products from grains to Kuwait while importing fuel and industrial products from this market.