Prime Minister Pham Minh Chinh held separate meetings in Riyadh on October 30 (local time) with leaders of Saudi Arabia’s major enterprises to promote investment cooperation, on the occasion of his attendance at the 8th Future Investment Initiative (FII) Summit and his working visit to the Middle East country, the Vietnam News Agency reported.

Working with Mr. Abdulla Mohammed Al Zamil, Chairman of the Board of Directors of Zamil Industrial Investment Company (Zamil Industrial) under Zamil Group, Saudi Arabia's largest industrial investment group with presence in 60 countries around the world, the Vietnamese PM suggested that, alongside expanding production, the group should continue to diversify its products, supply chains, and distribution networks; and promote the application of science and technology, and digital transformation for green production, clean manufacturing, environmental protection, and sustainable development.

He emphasized Vietnam's commitment to fostering development through science, technology, and innovation; prioritizing the growth of high-tech industries, green transition, digital transformation, and environmental protection; perfecting institutions, enhancing strategic infrastructure, reforming administrative procedures; and developing a high-quality workforce.

These efforts aim to help businesses reduce production costs, lower input expenses, and boost labor productivity and investment efficiency, according to the PM.

Mr. Abdulla Mohammed Al Zamil thanked the Vietnamese authorities at both central and local levels for their effective support. He noted that Zamil has been investing in Vietnam since 1993 and currently operates three production facilities, which account for 70% of steel exports in Southeast Asia. He also expressed a desire to expand investment in the country.

PM Pham Minh Chinh also met CEO of the Saudi Agricultural and Livestock Investment Company (SALIC) Sulaiman bin Abdulrahman AlRumaih, who said that his company has invested indirectly in Vietnam through partners, and imported and distributed about 100,000 tons of Vietnamese goods to other countries.

The largest red meat exporter in South America, to more than 100 countries, SALIC wishes to expand cooperation and investment in Vietnam, especially in the production, processing and export of rice, animal feed, poultry, livestock and aquaculture, the leader of SALIC stated, adding it is willing to share technology and experience with Vietnamese partners in these fields.

Welcoming the company's investment intention in Vietnam, the Vietnamese leader highlighted that the country is actively refining its institutions to ensure fairness and transparency, while prioritizing key sectors aligned with new development trends, and working to enhance breakthrough strategic infrastructure, including both hard and soft infrastructure, under open policies, seamless infrastructure, and smart governance.

Additionally, the PM assured that Vietnam guarantees political stability, security, and defense, enabling businesses to confidently plan long-term investments in the country without concerns.

Welcoming SALIC's cooperation and investment in Vietnam, particularly in the agricultural sector, he urged the company to send delegations to engage with relevant Vietnamese authorities on specific projects.