Prime Minister Pham Minh Chinh met with Saudi Arabia's Crown Prince and Prime Minister Mohammed bin Salman bin Abdulaziz Al Saud in Riyadh on October 29 (Photo: VOV)

The Saudi Arabian leader emphasised 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.

Chinh expressed congratulations to Saudi Arabia on the country's 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 leaders also pledged to prioritise 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 USD by 2030.

The two sides defined that the “future cooperation” pillar between the two countries covers innovation, green transformation, digital transformation, making education, tourism, labour, 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 minimise 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 centre 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 centres of the two countries, coordinating in organising international technology exhibitions, cooperating in building an innovation ecosystem in Vietnam, and sharing experiences in building an international financial centre in Ho Chi Minh City.

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

Chinh asked the Saudi Arabian side to create favourable 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.