Promoting Vietnam-Kuwait business connections

In an exclusive interview with our reporter, Mr. Yousuf Alsabbagh, Ambassador of the State of Kuwait to Vietnam shared potential areas for businesses from both countries to expand cooperation in the coming time.

How do you assess the current Vietnam-Kuwait relationship? In your opinion, which areas are opening up new opportunities for cooperation, in line with the priorities of both countries?

The State of Kuwait and the Socialist Republic of Vietnam have a strong and enduring friendship, based on mutual respect in many areas of mutual interest. In recent years, this relationship has witnessed positive and significant developments at many levels, especially after the successful visit of Vietnamese Prime Minister Pham Minh Chinh to Kuwait from November 16 to 18, 2025.

This visit demonstrated the desire of the leaders of both countries to elevate bilateral relations, concretized the Joint Statement between the Socialist Republic of Vietnam and the State of Kuwait on Elevating Bilateral Relations to the Level of a Strategic Partnership which is expected to have a strong impact, helping to promote cooperation in many areas such as economics, energy, infrastructure, investment, food security, as well as education and tourism – areas that align with the national development strategies of both countries.

How do Kuwaiti investors currently assess the Vietnamese market? What are the most attractive aspects that make Vietnam a potential destination in Kuwait's investment strategy?

The Vietnamese market is receiving increasing attention from Kuwaiti investors, thanks to its rapid and stable economic growth, the potential size of its domestic market, and the strong efforts of the Vietnamese government to build an attractive investment environment.

Furthermore, Vietnam's unique geographical location in South East Asia, along with factors such as product diversity, a large and ambitious young workforce, has made Vietnam a suitable destination for Kuwaiti investors and a potential expansion into the region.

In your opinion, what cooperation frameworks or agreements should the two countries promote to create a breakthrough in investment flows from Kuwait in particular and from the Middle East in general into Vietnam?

It is important to continue improving the legal and economic frameworks for bilateral and regional cooperation, including strengthening agreements on investment protection and promotion, double taxation avoidance agreements, as well as free trade agreements with regional blocs, such as the Gulf Cooperation Council (GCC).

I believe that expanding institutional cooperation between relevant agencies of the two countries, through the exchange of official and economic-trade delegations, will help enhance understanding of investment opportunities, bring perspectives closer, and build strong economic and trade relations, thereby promoting investment flows from Kuwait in particular and from the Middle East in general into Vietnam.

On this occasion, I would also like to highlight the Nghi Son Refinery and Petrochemical Complex, a joint investment project between Kuwait and Vietnam with the participation of Japan. This is a successful model of multilateral investment cooperation, demonstrating Vietnam's capacity to attract high-quality, long-term investment projects. The project currently meets approximately 40% of Vietnam's fuel market demand, serving as important evidence of the effectiveness of bilateral investment cooperation and is considered a pioneering project in the cooperative relationship between the two countries.

What programs will the Embassy of Kuwait in Vietnam implement to promote business connections between the two countries in the coming year?

The Embassy of the State of Kuwait always focuses on playing an active bridging role in supporting and strengthening connections between the business and financial communities of the two countries, through encouraging exchanges of business delegations, participation in trade fairs, exhibitions and economic forums, as well as close coordination with relevant agencies and chambers of commerce and industry of both sides.

The Embassy also actively facilitates the exchange of information on economic and trade opportunities, encourages reciprocal visits between business delegations, thereby contributing to building sustainable partnerships, serving bilateral interests and promoting economic cooperation between the two countries.

Thank you so much!