Kuwait and Vietnam are ready to promote bilateral economic and trade relations, the Kuwait News Agency said, citing comments by Fahad Al-Joan, a member of the Kuwait Chamber of Commerce and Industry.
Scene at the meeting between the Kuwait Chamber of Commerce and Industry and a visiting Vietnamese business delegation (Photo: KUNA)
Hanoi (VNA) – Kuwait and Vietnam are ready topromote bilateral economic and trade relations, the Kuwait News Agency said,citing comments by Fahad Al-Joan, a member of the Kuwait Chamber of Commerceand Industry.
Talking to reporters on the sidelines of a meeting with avisiting Vietnamese business delegation, the official said there are agreementsbetween the sides for the future expansion of Kuwait's direct investment inVietnam, adding that Kuwait – Vietnam trade revenue amounted to 500 million USDin 2017.
Mentioning oil investments, he said Kuwait has 150 fuelstations in Vietnam, which is predicted to hit 300 in the future.
Meanwhile, Ahmad Al-Qattan, CEO's Representative of the KuwaitPetroleum International, said the Vietnam Refinery, one of the biggest externalprojects launched by the Kuwaiti oil sector, would be operational on May 11, withits total cost estimated at 9 billion USD.
He said the refinery is expected to become a booster forbilateral investment relations.
The facility has an estimated production capacity of 200,000barrels per day, he said, revealing a plan to push the figure to 400,000barrels per day in the future.-VNA
Prime Minister Nguyen Xuan Phuc assured his Kuwaiti counterpart Sheikh Jaber Mubarak Al-Hamad Al-Sabad that Vietnam values friendship and cooperation with Kuwait and Middle Eastern countries.
Vietnam considers Kuwait one of its top partners in the Middle East, President Tran Dai Quang said when receiving Kuwaiti Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabad in Hanoi on May 6.
The Ministry of Finance and the Kuwait Fund for Arab Economic Development (KFED) signed a loan agreement on December 19 to develop infrastructure in coastal areas in Thai Thuy district of the northern province of Thai Binh.
Deputy Foreign Minister of Vietnam Vu Hong Nam and Assistant Foreign Minister Ali Suleiman Al-Saeed of Kuwait co-chaired the third Vietnam – Kuwait political consultation in Hanoi on March 19.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
Scene at the meeting between the Kuwait Chamber of Commerce and Industry and a visiting Vietnamese business delegation (Photo: KUNA) 
