The fine relationship and trust between Vietnam and Saudi Arabia serves as a sound foundation for businesses from both sides to expand their cooperation, Prime Minister Pham Minh Chinh told business leaders from Saudi Arabia and the Persian Gulf during his trip to attend the Association of Southeast Asian Nations - Gulf Cooperation Council (ASEAN - GCC) Summit and visit the host country Saudi Arabia.

In meetings with leaders from Zamil, Lulu, and Ajlan & Bros in Riyadh on October 18, Prime Minister Chinh affirmed that Vietnam continues to create favorable conditions and a safe, transparent, and competitive business environment, safeguarding the legitimate rights and benefits of investors.

“Vietnam always accompanies businesses to overcome difficulties and challenges, utilizing opportunities to make sure foreign investors’ operations are profitable, effective, and sustainable, based on the principle of legal compliance and balanced interests and shared risks,” he said.

Chairman of the Zamil Group, Mr. Abdulrahman Al Zamil, told the Prime Minister about its cooperative plan with Vietnamese counterparts in fields where its holds strengths to expand investment in the future. With 1,000 employees, Zamil is Vietnam’s largest direct investor from the GCC region.

According to the Zamil Chairman, the Group has high expectations of Vietnam as the country is an important market and its geographical location strongly facilitates export activities.

Mr. Shehim Kottilingal, Director of LuLu Saudi Hypermarkets, told Prime Minister Chinh that it seeks to expand its business in Vietnam through the construction of more warehouses and new plants, will boost its importation of high-quality goods such as cashew nuts, rice, and fish from Vietnam by double or three-times, and plans to import Vietnamese garment and footwear products.

He proposed the two countries consider opening direct flights to ease the import of food and fresh fruit and vegetables from Vietnam.

Prime Minister Chinh called for Lulu to further promote Vietnamese products in the Group’s supermarket chain around the world, especially items that are strengths of Vietnam and satisfy the taste of consumers in Saudi Arabia and the Middle East, including farm produce, rice, fruit, seasonal vegetables, electronics, garments and textiles, and footwear.

Meanwhile, Mr. Ali Al-Khatib, Deputy CEO for Investment and Portfolio of Ajlan & Bros Holding, which leads Saudi Arabia and the Persian Gulf in the garment and textile field, appreciated the dynamism and rapid development of Vietnam’s economy and said the Group considers it to be a priority market.