HCM City pledges favourable conditions for Kuwaiti investors
Ho Chi Minh City will create optimal conditions for Kuwaiti businesses to invest and develop in the city, stated Tran Vinh Tuyen, Vice Chairman of the municipal People’s Committee.
Tran Vinh Tuyen (R), Vice Chairman of the municipal People’s Committee and Khaled Al-Mutairi, Kuwaiti Consul General in Ho Chi Minh City at the ceremony (Photo: VNA)
HCM City (VNA) – HoChi Minh City will create optimal conditions for Kuwaiti businesses to investand develop in the city, stated Tran Vinh Tuyen, Vice Chairman of the municipalPeople’s Committee.
Addressing a ceremony in Ho ChiMinh City on February 23 to mark Kuwait’s 56th National Day anniversaryand its 26th Liberation Day, Tuyen expressed hope that Kuwait willbecome a gateway for HCM City firms to forge stronger cooperation with PersianGulf countries.
He congratulated Kuwaiti peopleon achievements they have made so far, noting that Vietnam-Kuwait partnership hasbeen growing in all fields, especially politics, economy and trade.
For his part, Khaled Al-Mutairi,Kuwaiti Consul General in Ho Chi Minh City said that the relations betweenVietnam and Kuwait has progressed strongly, especially in trade and investmentsince the two sides set up their diplomatic ties in 1976.
He held that Kuwait’s investmentin Vietnam will continue to surge in the coming time, calling on Vietnamesebusinesses to invest more in development projects in Kuwait, thus contributingto boosting the bilateral trade.
So far, Kuwait has invested 172million USD in projects on infrastructure and rural development in remote andmountainous areas of Vietnam.
Kuwait has been one of thelargest trade partners of Vietnam in the Middle East with two-way trade ofabout 184 million USD in 2016. The figure is expected to reach 2 billion USD in2020 after Nghi Son oil refinery and the first Vietnam-Kuwait petrochemicalproject become operational. - VNA
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Tran Vinh Tuyen (R), Vice Chairman of the municipal People’s Committee and Khaled Al-Mutairi, Kuwaiti Consul General in Ho Chi Minh City at the ceremony (Photo: VNA) 
