Vietnam targets $12 billion in trade with Kuwait by 2030
The Ambassador of the Socialist Republic of Vietnam to Kuwait, Nguyen Duc Thang, affirmed his country’s aspiration to raise bilateral trade volume with Kuwait to $12 billion by 2030, noting that both nations possess broad opportunities to enhance cooperation in vital sectors including energy, food security, digital transformation, finance, logistics, education, and tourism.
This statement was made during a speech delivered by Ambassador Thang at the embassy’s celebration of the 50th anniversary of diplomatic relations between Kuwait and Vietnam, as well as the 81st anniversary of Vietnam’s National Day. The event was attended by Deputy Minister of Foreign Affairs Ambassador Hamad Al-Mashaan, along with several ambassadors, diplomats, representatives of government entities and companies, and members of the Vietnamese community in Kuwait.
The ambassador stated that Kuwait was the first Gulf country to establish diplomatic relations with Vietnam in January 1976, expressing his country’s pride in Kuwait’s supportive stance toward the Vietnamese people during the war years and its contribution to reconstruction and development efforts following the restoration of peace.
He expressed appreciation for the role played by the Kuwait Fund for Arab Economic Development through loans provided to support infrastructure, economic, and social development projects in several Vietnamese provinces. He also highlighted Kuwait’s donation of 600,000 vaccine doses during the COVID-19 pandemic, describing these actions as embodying a friendship cemented by deeds over half a century.
He clarified that the official visit by the Prime Minister of Vietnam to Kuwait in November 2025 marked a historic milestone in bilateral relations, elevating ties between the two countries to the level of a strategic partnership. He noted that Kuwait is, according to him, the largest investor from the Middle East in Vietnam, with investments exceeding $3.5 billion, primarily concentrated in the Nghi Son Refining and Petrochemicals Complex.
He further emphasized that Kuwait represents Vietnam’s largest trading partner in the Middle East and Africa, pointing out that annual bilateral trade volume has ranged between $7 billion and $7.5 billion over the past three years.
