Kuwaiti businessmen invited to invest in Vietnam’s Ho Chi Minh City

Huge Vietnam refinery to propel private sector: KCCI

The Vietnamese team attending the meeting

KUWAIT: A delegation from Vietnam headed by Governor of Ho Chi Minh City Nguyen Thanh Phong visited the Kuwait Chamber of Commerce and Industry (KCCI) yesterday. The delegation was welcomed by KCCI board member Osama Mohammed Al-Nisf along with a number of Kuwaiti business personalities. In his welcoming remarks, Nisf noted that KCCI will continue to support business opportunities through public private partnerships and enhancing business partnerships with Vietnam.
Vietnamese Ambassador to Kuwait Trinh Minh thanked KCCI for the warm hospitality accorded to the business delegation from Vietnam. “It’s a great honor to see a large group of Kuwaiti businesspeople present here today, and it reflects our good relations. We would like to propose a business partnership with you. This meeting today will showcase Ho Chi Minh City, and we are looking forward for the success of these talks as we promote better economic ties with Kuwait,” he said.

The Kuwait Chamber of Commerce and Industry team attending the meeting

More investments
He lauded growing bilateral relations in all aspects including labor, business and tourism. “We expect more and more cooperation to thrive as we start commercial flights from Kuwait to Vietnam next year. We want to see more investments from Kuwait in the coming years, as we promote Ho Chi Minh City as an economic hub and the center of business opportunities. Vietnam has a lot more to offer and we are here to encourage foreign investors,” Minh said.

He mentioned agriculture, tourism, finance, banking, energy and infrastructure as best sectors to invest in. “Please include Vietnam as a place to visit and invest in South East Asia. We need more Kuwaitis to visit because we are an equally beautiful country among our counterparts in South East Asia,” he said.

Governor Phong hoped that with its partnership with Kuwait, Ho Chi Minh City will be able to attract more investment from Kuwait in areas that need it the most and promised cooperation in terms of resources, information and technologies. “I am thankful to KCCI for welcoming us, the Vietnam Embassy for facilitating our delegation and to business communities from both sides. Thank you for the friendship,” he noted.

Vietnam refinery
Meanwhile, Nisf said that a $9.2-billion Kuwaiti-built oil refinery in Vietnam will provide the Gulf state’s private sector with new opportunities to explore diverse development projects,. Ties between Kuwait and Vietnam have made tremendous progress in recent years, especially after the construction of the Nghi Son refinery, Nisf said during a Kuwaiti-Vietnamese economic forum. He noted that the event would help familiarize Kuwaiti investors with business opportunities available in Vietnam, particularly in the sprawling city of Ho Chi Minh. The huge refinery, co-owned by Kuwait Petroleum Europe BV and Japanese firms Idemitsu Kosan and Mitsui Chemicals, is designed to help Vietnam cope with a dearth of refined oil products. – KUNA

By Ben Garcia

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