Vietnam PM's Middle East tour creates breakthroughs in economic, trade, investment cooperation: FM

Prime Minister Pham Minh Chinh’s freshly ended six-day trip to the UAE, Saudi Arabia and Qatar has produced important outcomes, demonstrating the growing relations between Vietnam and the three Middle-East countries, Deputy Prime Minister and Foreign Minister Bui Thanh Son told Vietnam News Agency.

The visits to the three countries are of great significance, affirming the new mindset and new strategic vision as well as high determination of Vietnam’s leaders in taking relations with the three key countries in the Gulf region into a new phase of stronger and more comprehensive development, deeper trust, and more opportunities, according to Son.

He stressed that the visits elevated the relationship between Vietnam and these three countries in particular, and the Middle East-North Africa region in general. The official upgrading of relations with the UAE to a comprehensive partnership has opened up new development space for bilateral ties, expanding Vietnam's comprehensive partnership network to 13 countries.

Meanwhile, Vietnam agreed with Saudi Arabia and Qatar to promote the early elevation of relations to a new height in the coming time, thus creating momentum for the comprehensive development of friendship and multifaceted cooperation between Vietnam and these countries, creating leverage to strengthen Vietnam’s relations with other important partners in the Middle East-North Africa region.

At the same time, the visits once again demonstrated Vietnam’s strategic vision, strong commitment, and drastic actions in promoting multifaceted cooperation with the Middle East region. They have broadened the door for Vietnam's exports, while attracting high-quality investment capital from leading investment funds and corporations in the world, expanding cooperation in priority areas of Vietnam such as artificial intelligence, big data, cloud computing, clean energy, green transformation, digital transformation, innovation, and Halal industry development, bringing specific and practical benefits for the country's development in the coming time.

Pointing to major outcomes of the visits, the FM said that during the trip through the three Middle East countries, the PM engaged in nearly 60 activities, including talks and meetings with senior leaders, ministers, leaders of major corporations and investment funds of the three countries. PM Chinh was the keynote speaker of the 8th Edition of the Future Investment Initiative (FII) in Saudi Arabia. He also delivered a policy speech at the UAE’s Anwar Gargash Diplomatic Academy, addressed the Vietnam - UAE Business Forum, attended the launching ceremony of VinFast's showroom in the UAE and the opening ceremony of FPT's office in Saudi Arabia. During the trips, members of his entourage also had dozens of meetings and working sessions with partners, Son added.

The visits were a success, with all goals achieved, producing important results, contributing to strengthening and enhancing friendly relations and cooperation with the three countries, Son affirmed.

He said that leaders of these nations welcomed the Vietnamese PM with many special exceptions, indicating that they highly valued their relationships with Vietnam in their "Look East" policy and regarded Vietnam as a key partner in Southeast Asia.

The leaders expressed admiration for Vietnam's heroic history and hailed the country’s development potential, achievements, and rising position and role. During meetings with the Vietnamese PM, leaders of the largest investment funds and major corporations from the three countries showed their interest in and highly valued Vietnam's development potential, affirming their intention to send delegations to Vietnam immediately to explore investment and business opportunities.

Regarding the main results of the trips, Son said that several important documents were adopted, including the Joint Statement on upgrading the Vietnam-UAE relations to a comprehensive partnership, the Joint Communiqué between Vietnam and Qatar, and 33 cooperation agreements across various fields such as trade, investment, finance, energy, innovation, measurement and quality, education and training, sports, and business collaboration. These agreements lay the foundation for further strengthening cooperation between Vietnam and the three countries.

Secondly, the visits help deepen political trust and strengthen the positive personal relationships between high-ranking leaders of Vietnam and the three nations, with their meetings and contacts affirming the commitments to develop bilateral relations in a substantive, effective, and sustainable manner.

Thirdly, they yield significant breakthroughs in economic, trade, and investment cooperation. The Comprehensive Economic Partnership Agreement (CEPA) with the UAE marks Vietnam's 17th free trade agreement, aiming for a bilateral trade volume of $20 billion in the coming time.

With Saudi Arabia, both sides agreed on a trade target of $10 billion and to promote the Middle East nation as one of the top investors in Vietnam.

Regarding Qatar, both nations expressed their commitment to increasing bilateral trade, exploring the establishment of a joint trade working group, considering the possibility of setting up a Vietnamese product showcase center in Qatar, and enhancing cooperation in the financial sector.

Fourthly, Chinh’s trips create new momentum and open up numerous opportunities for cooperation between Vietnam and the three countries across various sectors, including emerging and promising fields. In addition to reinforcing traditional areas such as security, education, tourism, and people-to-people exchange as a solid foundation for long-term friendship and cooperation, Vietnam identifies innovation, green transition, digital transformation, and the development of the domestic Halal industry as key pillars for future collaboration.

Fifthly, in Saudi Arabia, the PM attended the eighth Edition of the Future Investment Initiative, themed “Infinite Horizons: Investing Today, Shaping Tomorrow,” where he delivered a message about Vietnam's dynamism and readiness to engage with other nations in sharing investment initiatives for sustainable and prosperous development. During his meetings with the Prime Ministers of Pakistan and Egypt, and the Crown Prince of Jordan, they engaged in comprehensive discussions about enhancing relations and exploring measures to foster development in line with the potential and aspirations of Vietnam and these countries, stated Son.

The official went on to say that to materialize these results, it is necessary to intensify cooperation in all areas, and maintain regular and specific exchanges with the designated points of contact as agreed upon during the visits.

He stressed the need to implement the signed agreements and commitments made by the high-ranking leaders, including the CEPA, and develop specific action plans to ensure the implementation progress and effectiveness at the highest level; and continue improving the investment and business environment and facilitating cooperation between Vietnamese enterprises and those from the three countries.

Attention should also be paid to promoting people-to-people exchanges as well as cultural, educational, and tourism activities to foster mutual understanding; creating the best conditions for the Vietnamese community living, working, and studying in these countries to stabilize their lives and serve as a strong bridge of friendship and cooperation between Vietnam and the three nations, said Son.

The official expressed his confidence that with strong determination, the outcomes of the PM's visits will be effectively put in place, contributing to advancing the friendship and comprehensive collaboration between Vietnam and the UAE, Saudi Arabia, and Qatar, thereby bringing about tangible benefits to their people and businesses, contributing to peace, stability, and development in the regions and the world, and propelling Vietnam into a new era - the one of the nation’s rise.