Saudi Arabia's Contributions to Development in Vietnam and the World Showcased

Hanoi, November 06, 2023, SPA -- The Embassy of Saudi Arabia in Vietnam organized today an event called "Transforming Challenges into Opportunities: Saudi Fund for Development Contributions in Vietnam and Around the World," highlighting the Kingdom's role to this effect in the world and particularly in Vietnam.
Saudi Fund for Development (SFD) CEO Sultan Abdulrahman Al-Marshad participated in the event about which Vietnamese Deputy Minister of Planning and Investment Tran Quoc Vuong said: "This event aims to enhance cooperation of common interest toward a prosperous and sustainable development."
He also praised the Kingdom's contributions, through SFD, to Vietnam in support of infrastructure projects and the positive development impact of these contributions.
Marshad stressed that the fund has a close relationship with Vietnam, and that its projects and programs will help Vietnam achieve economic growth and prosperity since they are focused on vital sectors that have a positive impact on the lives of the Vietnamese people.
SFD had a pavilion at the event showcasing its activities in Vietnam and around the world; more than 800 development programs and projects, valued at nearly $20 billion, have been implemented in more than 100 developing countries since the fund was established in 1974.
Since 2011, Vietnam has been one of the countries benefiting from the fund contributions, which supported 12 development programs and projects in different sectors, including transport, communication and social infrastructure. The value of the soft loans provided by the SFD for these projects is more than $164 million.
--SPA