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.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
Scene at the meeting between the Kuwait Chamber of Commerce and Industry and a visiting Vietnamese business delegation (Photo: KUNA) 
