Saudi Fund for Development contributes to Vietnam’s development
The Embassy of Saudi Arabia in Vietnam on November 6 held an event highlighting contributions of the Saudi Fund for Development (SFD) in Vietnam and the world.
Hanoi (VNA) - TheEmbassy of Saudi Arabia in Vietnam on November 6 held an event highlighting contributionsof the Saudi Fund for Development (SFD) in Vietnam and the world.
Speaking at the event, Saudi Arabian Ambassador toVietnam Mohammed Ismaeil A. Dahlwy said, founded in 1974, the SFD is a financialinstitution of the Saudi Arabian government that has played a significant role in providingfunding for development projects in developing countries. It has so far fundedover 800 projects and development programmes across various fields in 100countries.
ꩲ In Vietnam, the SFD has provided concessional loans for12 projects, ranging from the construction and expansion of educational andhealthcare facilities to the development of transportation infrastructure and upgradeof rural infrastructure affected by natural disasters, contributing to closeties between Saudi Arabia and Vietnam over the past 24 years.
Onthe occasion, CEO of the SFD Sultan Al-Marshadannounced that the Ha Nam Vocational College project, funded bythe SFD with a budget of over 9 million USD, was inaugurated in theafternoon of the same day. As next year marks the 25th founding anniversary of bilateraldiplomatic ties, Vietnamese Deputy Minister of Planning and Investment Tran Quoc Phuong expressedhis belief that the SFD will continue playing as a bridge to foster Vietnam –Saudi Arabia ties, aiming for new cooperation opportunities thatalign with the priorities of both sides./.
Deputy Minister of Industry and Trade Cao Quoc Hung and Deputy Minister of Economy and Planning of Saudi Arabia Bandar AlKhamies co-chaired the fourth session of the Vietnam-Saudi Arabia Joint Committee on Economic, Scientific and Technological Cooperation via videoconference on April 7.
Prime Minister Pham Minh Chinh met with Saudi Arabia's Minister of Economy and Planning Faisal Al-Ibrahim and Minister of Human Resources and Social Development Ahmed Al-Rajhi in Riyadh on October 19 (local time), as part of his trip to attend the ASEAN - Gulf Cooperation Council (ASEAN - GCC) Summit and visit to Saudi Arabia.
Prime Minister Pham Minh Chinh has proposed the Public Investment Fund (PIF) of Saudi Arabia – one among the world’s 10 biggest public investment funds – expand and diversify investment activities in Vietnam's priority areas such as digital transformation, green economy, circular economy, innovation, renewable energy, high technology, tourism and Halal industry.
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Delegates at the event (Photo: nhandan.vn) 
