November 4, 2024

Vietnam's Prime Minister advocates for agricultural collaboration with Saudi investment firm

Vietnam's Prime Minister Pham Minh Chinh met with Sulaiman Alrumaih, CEO of the Saudi Agricultural and Livestock Investment Company (SALIC), and Mohammed Al-Obaid, strategy director of the company, to discuss strengthening agricultural cooperation between Vietnam and Saudi Arabia, The Voice of Vietnam reported.

Prime Minister Chinh highlighted the positive and growing relationship between the two countries, noting that the mutual trust between Vietnam and Saudi Arabia provides a strong foundation for expanding business cooperation. However, he remarked that current economic collaboration still lags the robust political ties shared by the two nations. He pointed out agriculture as a particular area of strength for Vietnam.

The Prime Minister expressed his hope for SALIC's future investments in Vietnam's high-tech agricultural sector, particularly in areas such as seeds, technology, fertiliser, feed, and market development. He also underscored the potential for partnership in the Halal food industry.

During the meeting, SALIC's CEO Sulaiman Alrumaih shared that SALIC has already invested indirectly in Vietnam through its subsidiaries. He emphasised the company's strong interest in expanding cooperation with Vietnam in key areas, including rice trade, animal feed, poultry and red meat production, aquaculture, and agricultural product processing.

Alrumaih further indicated SALIC's readiness to share expertise, transfer technology, and explore both direct and indirect investment opportunities with Vietnamese partners, aiming for enhanced collaboration in the agricultural sector.

-      The Voice of Vietnam