Kuwait Times, Sunday, Mar 19, 2023 | Sha'ban 27, 1444
UIC, Vietnamese delegation discuss means to promote commercial ties
Kuwait:
The Union of Investment Companies (UIC) held a
meeting with a visiting investment delegation from Vietnam on March 14. The
meeting comes within the framework of UIC’s efforts to promote local and
international investments and encourage investment opportunities in Vietnam. The
meeting was attended by Chairman of the administrative council of the Investment
Capital Authority Nguyen Chi, head of the Vietnamese delegation, Vietnamese
Ambassador to Kuwait Ngu Twang Thang and a number of executive directors.
Welcoming the ambassador and the Vietnamese delegation, Chairman of the UIC
administrative board Saleh Al-Selmi stressed the importance of boosting
cooperation and commercial ties between the two countries. During the meeting,
the delegation indicated the promising economic development of Vietnam, with an
increase in GDP growth of 8.02 percent in 2022. This growth is the highest
achieved by any country in Southeast Asia and the eighth highest worldwide. The
committee also stated that there was an increase in exports and imports,
reaching $732.5 billion, an increase of 9.5 percent, and a $11.2 billion budget
surplus.
In a presentation, the delegation displayed a number of projects and investment
plans that are being prepared for implementation. The projects, considered ideal
investment opportunities for investors, are primarily in sectors of construction
and development of ports and large industrial centers, in addition to building
airports and infrastructure. Moreover, investment opportunities in sectors such
as minerals and pharmaceutical industry among others were also discussed.
Selmi praised the Vietnamese initiative and the importance of the economic
relationship between the two countries, as Kuwaiti companies can use their
expertise and ability with regards to industry and transportation investments,
among others. In conclusion of the meeting, the two sides agreed that this is an
important step towards preparing more visits of economic delegations between the
two countries, which will strengthen bilateral cooperation and investment
opportunities.