Viet Nam offers strategic gateway for Kuwait to expand investment into Southeast Asia

Since the establishment of diplomatic relations nearly 50 years ago, Viet Nam and Kuwait have consistently upheld a tradition of supporting each other at international forums while also promoting cooperation across various fields. Investment and trade are the highlights of Viet Nam–Kuwait relations.

To date, Kuwait is the Middle Eastern country with the largest total investment in Viet Nam, most notably including investment in the Nghi Son Refinery and Petrochemical Complex, in which Kuwait’s capital contribution amounts to 3.5 billion USD. The large volume of crude oil imported from Kuwait helps ensure a stable supply for Nghi Son’s operations. In 2024, bilateral trade between the two countries reached 7.3 billion USD — the highest level among Viet Nam’s trade ties with Middle Eastern nations.

In addition, the two countries maintain cooperation in several other sectors. Over the years, the Kuwait Fund has supported essential infrastructure projects in Viet Nam with a total value of 182 million USD through 15 projects across various provinces and cities. At the local level, cooperation agreements have been established, such as between Ho Chi Minh City and Ahmadi Province, and between Thanh Hoa Province and Farwaniya Province, helping to promote delegation exchanges, trade promotion, and people-to-people interaction.

In the field of education and training, the Government of Kuwait has annually provided scholarships for Vietnamese students to study Arabic at Kuwait University since 2013.

Beyond traditional areas of cooperation, Viet Nam and Kuwait have significant potential to expand collaboration in high-potential sectors such as oil, gas, and energy. As the world transitions strongly towards renewable energy, the two countries have ample opportunities to cooperate in developing green and clean energy in line with their respective international goals and commitments. They could jointly study and invest in solar power, wind power, and green hydrogen projects, leveraging Kuwait’s financial strength and Viet Nam’s production and technical capacity.

In the time ahead, the two countries can promote cooperation in major projects and develop new financial hubs in the region. Viet Nam could become a gateway for Kuwait to expand investment into Southeast Asia, while Kuwait could serve as a strategic partner helping Viet Nam access Middle Eastern and neighbouring markets.

Vietnamese Ambassador to Kuwait Nguyen Duc Thang

Kuwait currently holds the Chair of the Gulf Cooperation Council (GCC). In recent years, this Gulf state has adjusted its foreign policy with increased attention towards Asian countries, including ASEAN Member States. Kuwait actively signed the Treaty of Amity and Cooperation in Southeast Asia (TAC) in September 2023. At the two GCC–ASEAN Summits in October 2023 and May 2025, Kuwait played an active role and participated in discussions on various key cooperation issues between the blocs.

The Kuwait Investment Authority (KIA) manages the world’s fourth-largest sovereign wealth fund, with assets of approximately 1.065 trillion USD, playing an important role in overseas investment allocation. With its dynamic economy and attractive investment environment, Viet Nam hopes to become a more prominent destination for Kuwaiti investment funds.

According to Viet Nam’s Ambassador to Kuwait Nguyen Duc Thang, in the time ahead, the two countries have the potential to promote cooperation in major projects and develop new financial hubs in the region. Viet Nam could become a gateway for Kuwait to expand investment into Southeast Asia, while Kuwait could serve as a strategic partner helping Viet Nam access Middle Eastern and neighbouring markets.

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