On September 9th, Mr. Do Duc Duy, Chairman of Yen Bai Provincial People's Committee had a working session with the Saudi Ambassador, Mr. Saud F.M Al Suwelim, the Embassy of Saudi Arabia in Vietnam
At the meeting, Mr. Do Duc Duy introduced to Ambassador Al Suwelim about the potentials, strengths and advantages when investing in Yen Bai Province.
Yen Bai leader also informed about the export situation of Yen Bai products to the Middle East - Africa market; Although this is a new market, Yen Bai province has maintained a number of exports to this market such as minerals, plastic additives with an annual export turnover accounting for about 8% of the provincial turnover export. Yen Bai province continues to maintain the export of CaCO3 stone powder, resins, marble, tea ...to Saudi Arabia market.
Mr. Do Duc Duy suggested that the Ambassador continue to be a “connector” to introduce the potential strength of Yen Bai province to Saudi Arabia businesses and investors. Mr. Duy invite Saudi Arabia businesses to seek for investing opportunities in some projects in the fields of agricultural production, industry, construction and wooden furniture to provide for the Saudi market and support the province in exporting the province's goods such as tea, rice ... to Saudi Arabia
Mr. Do Duc Duy asked the Saudi side to continue providing ODA capital from the Saudi Economic Development Fund for the new project "Building Dong An Road (Van Yen district) to Gia Hoi (Van Chan district). The invested project will create important conditions for traffic connection to develop regional links between the western district of Yen Bai province and connect to the Noi Bai - Lao Cai Highway Express. On this occasion, the Chairman of the provincial People's Committee invited the Arab Ambassador, Embassy and investors to visit and explore investment opportunities for Arab businesses - Saudi Arabia in the province.
Speaking at the meeting, the Ambassador of Saudi Arabia in Vietnam highly appreciated the initiative of Yen Bai province in promoting investment in the province. The Ambassador of Saudi Arabia said that the leaders Saudi Arabia always support Vietnam in economic development, poverty reduction; Through the good relations between the two countries in recent years, in the fields of politics, diplomacy and economy, every year, the Saudi side always provides many support loans for Vietnam from Saudi Economic Development Fund.
Regarding the recommendations of Yen Bai province, the Ambassador unanimously suggested that the province soon send an official document to the Ministry of Foreign Affairs, the Ministry of Planning and Investment and the Embassy of Saudi Arabia as well as early push up with the nessesary procedures to obtain capital from the Fund. The Saudi ambassador accepted the invitation of the leader of Yen Bai province and promised to visit and work with the province in the coming, thereby introducing Saudi investors to study and cooperate in the coming time with the desire to help Yen Bai develop its economy and reduce poverty.
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