Prime Minister wishes to boost exports to Kuwait

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Prime Minister Nguyen Xuan Phuc and Kuwaiti Minister of Oil and Electricity and Water Khaled Ali Al Fadhel.

The PM thanked the Kuwaiti government for recognising Vietnam as a market economy and noted that two-way trade had almost reached 2.7 billion USD last year, 77 million USD of which came from Vietnam’s exports, mostly aquatic, forestry and agricultural products, and imports are crude oil.

He expressed his delight at the outcomes of bilateral cooperation in oil and gas, particularly the Nghi Son oil refinery and petrochemical plant invested by Vietnam, Japan and Kuwait.

Put into commercial operation in November 2018 with crude oil imported from Kuwait, the project has supplied nearly 40 percent of Vietnam’s demand for oil and gas.

The Vietnamese government leader said Vietnam always creates favourable conditions for investors but they must meet environment requirements and abide by Vietnam’s law.

Al Fadhel, for his part, expressed his belief that the two countries will work closely and effectively together in various areas in the near future.

He affirmed that Kuwaiti investors will partner with Vietnamese and Japanese counterparts to continue implementing the Nghi Son project in an effective way.

Kuwait highly appreciates the Asian market, including Vietnam, he said, adding that Kuwait hopes the project will become a symbol of success in its investment in Asia.

Nation-to-nation relations should be based on equality and respect Prime Minister Nguyen Xuan Phuc said “relations between nations should be established on the basis of equality and respect for each other’s independence, sovereignty, territorial ...

Vietnam completes US$9 billion oil refinery partly invested by Japan, Kuwait Kicked off in 2013, Nghi Son Oil Refinery meets roughly 80% of domestic demand for petroleum, reducing independence on imports.

Opportunities open for local exports to UAE, Kuwait Kuwait and the United Arab Emirates (UAE) are two potential markets in the Middle East which Vietnamese enterprises could begin intensifying their exports to, heard ...