The meeting was attended by leaders of key units under the Ministry of Industry and Trade, including the Department of Foreign Market Development, the Ministry’s Office, the Oil, Gas and Coal Department, the Industry Agency, the Vietnam Trade Promotion Agency, the Agency of Foreign Trade, the Agency for Innovation, Green Transition and Industrial Promotion, as well as representatives of the Vietnam Oil and Gas Group (PVN).

The Saudi delegation included H.E. Mohammed Ismaeil A. Dahlwy, Ambassador of Saudi Arabia to Vietnam; Mr. Abdulaziz Alahmady, Vice Minister of Industry and Mineral Resources; senior officials from the Department of International Cooperation; the National Industrial Development Center; and other representatives of the Saudi Ministry of Industry and Mineral Resources.

Minister Nguyen Hong Dien warmly welcomed the Saudi delegation led by Minister Bandar Alkhorayef. He underscored the strategic role and position of Saudi Arabia in the Middle East and noted that bilateral relations have been flourishing, marked by the signing of multiple cooperation agreements, regular exchanges of high-level delegations and business missions, and the effective operation of the Joint Committee mechanism, which has contributed to promoting and expanding bilateral economic and trade cooperation.

The Minister proposed that Saudi Arabia provides Vietnam with a stable and long-term supply of crude oil, gasoline, liquefied petroleum gas and petroleum products at appropriate prices. He also called for active coordination in implementing the Petroleum Cooperation Protocol signed in April 2010, and suggested that Saudi Arabia considersq investing in the development of crude oil transshipment and storage hubs, as well as petrochemical and refining facilities in Vietnam to serve Southeast Asian markets.

In addition, he encouraged Saudi authorities to facilitate the participation of Vietnamese enterprises in infrastructure, transport, housing and smart city projects under Saudi Vision 2030, and to create favorable conditions for Vietnamese companies to provide human resources, machinery, and construction materials.

Minister Nguyen Hong Dien also expressed his hope that Saudi Arabia, as a key member of the Gulf Cooperation Council (GCC), would continue to play a leading role in encouraging other GCC members to finalize internal procedures so that Vietnam and the GCC can soon announce the launch of negotiations for a Vietnam-GCC Free Trade Agreement.

Minister Bandar Alkhorayef agreed with the proposals of Minister Nguyen Hong Dien and suggested that the two sides work closely to prepare for the 6th Session of the Vietnam–Saudi Arabia Joint Committee in the near future. He expressed his hope that the upcoming meeting would provide an important platform for ministries, agencies, and businesses from both countries to strengthen exchanges and explore new investment cooperation opportunities.

The Saudi Minister highlighted his country’s strategic advantages, including its geostrategic location, well-developed infrastructure, competitive energy sector, and stable political and social environment. He encouraged Vietnamese investors to explore business opportunities in Saudi Arabia to take advantage of these favorable conditions. He also identified several promising areas for future cooperation, including energy, minerals, automotive manufacturing, electronics, agriculture, Halal food, tourism, infrastructure development, construction, and digital transformation.

On this occasion, Minister Bandar Alkhorayef invited Minister Nguyen Hong Dien to attend the Global Industrial Summit 2025, organized by UNIDO in Saudi Arabia in November 2025, and extended an invitation for the Vietnamese Government to participate in the Future Minerals Forum scheduled for January 2026 in Saudi Arabia.

Saudi Arabia remains a major market and one of Vietnam’s most important partners in the Middle East. Bilateral economic and trade relations have grown steadily, with annual trade turnover averaging USD 2.2 billion. In 2024, total two-way trade reached USD 3.2 billion, up 18.5% compared to 2023, marking the first time Vietnam recorded a trade surplus with Saudi Arabia. In the first eight months of 2025, total trade between the two countries reached USD 2.14 billion, an increase of 10% year-on-year.