The PM thanked the Kuwaiti government for recognizing Vietnam as a market economy and noted that two-way trade had almost reached USD 2.7 billion last year, USD 77 million 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.

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

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 favorable 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.

The minister also informed the PM about the outcomes of his working sessions with the Ministry of Industry and Trade and Vietnamese authorities on various areas, including in trade.

Source: VNA