Hanoi, September 30 (QNA) – Saudi Arabia and Vietnam signed five investment agreements on the sidelines of the Saudi-Vietnamese Business Forum held in the Vietnamese capital, Hanoi, on Tuesday.

The agreements focused on building investment partnerships between the two sides in several fields, including construction, infrastructure, advanced furniture industries, and human resources training and qualification programs, in addition to an agreement in the tourism sector.

In a speech during the forum, Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Al khorayef, who is visiting Hanoi, emphasized the pivotal role of the Saudi-Vietnamese Business Council in strengthening investment partnerships and enabling the private sector to exploit mutual opportunities in various sectors, most notably the industrial and mining sectors.

He noted Saudi Arabia’s keenness to attract quality foreign investments in the industrial and mining sectors, reviewing the most promising investment opportunities offered by the two sectors, as well as the incentives and capabilities provided by industry and mineral resources entities to facilitate the journey of international investors, including the financing solutions provided by the Saudi Industrial Development Fund and the Saudi Export-Import Bank.

Al khorayef highlighted the development and transformation of the sector, which is the third pillar of national industry, in accordance with the goals of Saudi Vision 2030.

He also noted that the launch of the Comprehensive Strategy for Mining and Mineral Industries in 2017 and the launch of the General Geological Survey Program have raised the estimated value of the Kingdom’s mineral resources from $1.3 trillion to $2.5 trillion. (QNA)