Prime Minister Pham Minh Chinh met with Crown Prince and the host Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud in Riyadh on October 29 (local time), as part of his trip to attend the eighth Future Investment Initiative (FII) Summit and working visit to Saudi Arabia, according to a report from the Vietnam News Agency. ​

The Saudi Arabian leader, as quoted by the news agency, emphasized that the participation by Vietnam — a dynamic economy in Asia — brings new opportunities for investors and is a valuable contribution to the success of the FII Summit and regional development strategy.

PM Chinh, for his part, expressed congratulations to Saudi Arabia on its recent achievements and conveyed greetings from Part General Secretary To Lam, State President Luong Cuong, and National Assembly Chairman Tran Thanh Man to King Salman bin Abdulaziz. He also invited Crown Prince Mohammed bin Salman to visit Vietnam at a convenient time.

The Saudi Arabian leader expressed gratitude for the well-wishes from Vietnamese leaders to King Salman and affirmed his intention to visit Vietnam in the near future.

Both leaders highlighted the remarkable progress in the Vietnam-Saudi Arabia relations over the past 25 years and committed to close cooperation to elevate the bilateral relationship further. They agreed to strengthen exchanges at all levels, particularly high-level meetings in both bilateral and multilateral forums.

The two Prime Ministers also pledged to prioritize economic cooperation as a key pillar in the bilateral relationship, aiming to position Saudi Arabia as a top investor in Vietnam and increase bilateral trade to over $10 billion by 2030.

The two sides defined that the “future cooperation” pillar between the two countries covers innovation, green transformation, digital transformation, making education, tourism, labor, and people-to-people exchange a solid foundation for bilateral relationship, and continuing to closely coordinate and support each other on regional and world issues at international forums, especially at the United Nations, so as to minimize risks, enhance dialogue, cooperation, for peace and development in the region and the world.

The Vietnamese PM called on Saudi Arabia to invest in strategic, iconic, and breakthrough projects in Vietnam, consider building a transit and storage center for crude oil and petrochemical products in Vietnam for export to markets in the Southeast Asian region, and exploit the potential for developing Vietnam's Halal industry, considering this a key task. He also proposed connecting innovation centers of the two countries, coordinating in organizing international technology exhibitions, cooperating in building an innovation ecosystem in Vietnam, and sharing experiences in building an international financial center in Ho Chi Minh City.

The Saudi Arabian leader agreed with PM Chinh's proposals, suggesting that both sides direct ministries and sectors to continue discussions to concretize cooperation proposals and optimize bilateral cooperation potential.

The Vietnamese leader asked the Saudi Arabian side to create favorable conditions for the Vietnamese community in Saudi Arabia to integrate deeply into the local community and actively contribute to the development of Saudi Arabia and the friendly cooperation between the two countries. The Saudi Arabian leader affirmed that he will back Vietnamese workers to settle down in Saudi Arabia.

Right at the talks, PM Chinh assigned ministers in his entourage to discuss with Saudi Arabian partners on measures to specify the outcomes of his talks with the Saudi Arabian leader.