Kuwait Pours US$2 Bln into Vietnam So Far
Kuwaiti companies have to date invested in eight projects worth some US$2 in Vietnam billion, Vietnam News Agency quoted a Kuwaiti trade official as saying.
Kuwait investment mostly focuses on Vietnam’s petrochemical sector, said the Assistant Director General of the Kuwaiti Chamber of Commerce and Industry, Saud K Al-Zaid.
Saud K Al-Zaid told Vietnam News Agency recently that Vietnamese Prime Minister’s upcoming visit is expected to spur investment between the countries.
He added that Kuwait will be a promising market for Vietnam to export both luxury goods and affordable consumer products as Kuwaiti people are focusing on buying high-quality.
Kuwaiti investors are also keen Vietnamese market for its cheap labor, land and resources, Saud K Al-Zaid noted.
Kuwait Fund for Arab Economic Development has offered over US$100 million for infrastructure development in Vietnam.
In 1997, Kuwait became the first Persian Gulf country to set up a Vietnamese embassy. (Thanh Nien Daily, VNS)
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