This was announced at a meeting of experts from both sides in Hanoi on June 9.
Recent efforts by Vietnam and Saudi Arabia indicated that there was room for more dynamic cooperation in trade and investment between the two countries, said Minister of Industry and Trade Vu Huy Hoang on June 9.
Speaking at a reception for the Saudi Minister of Petroleum and Mineral resources, Ali Ibrahim Al Naimi, Hoang said this could include co-operation in oil, gas and minerals.
“Saudi Arabia is very experienced in the development of energy and quite ready to become Vietnam’s long-term partner,” Hoang said.
He asked the Arabian kingdom to recognize that Vietnam now has a full market economy. He suggested an early start for negotiations on investment and transport co-operation and pushed for more exchanges of delegations.
He also suggested that enterprises would be encouraged to explore for oil and gas and build refineries.
The Saudi minister said his country is also keen to co-operate in infrastructure, construction, engineering, and energy industries.