Vietnam, Oman step up economic and innovation cooperation
Hanoi (VNA) – Vietnamese Deputy Minister of Foreign Affairs Nguyen Minh Hang on September 23 held meetings with senior leaders of Oman’s investment and business community during her working visit to the country, focusing on deepening economic, trade and innovation partnerships.
In her working session with Nasser Bin Suleiman Al-Harthy, Vice Chairman of the Oman Investment Authority (OIA) and Chairman of the Vietnam–Oman Investment Fund (VOI), Hang highlighted the OIA’s pioneering role as one of the first investors from Oman and the Gulf Cooperation Council (GCC) region to enter Vietnam. She said the OIA’s investment of more than 500 million USD had made a significant contribution to the positive development of bilateral ties.
The Deputy Minister encouraged the OIA to expand its portfolio into new areas such as technology, international financial centres, strategic infrastructure and high-tech agriculture.
For his part, Al-Harthy underlined Vietnam’s considerable growth potential, noting that Oman had acted early in launching projects and had become one of the first GCC countries to invest in Vietnam. He praised Vietnam’s ongoing economic and institutional reforms, which are creating a favourable environment for foreign investors.
The OIA leader confirmed that Oman will continue to expand and enhance the efficiency of its investments. He also encouraged more Omani and GCC companies to participate in projects in Vietnam. Additionally, he reiterated the OIA's commitment to increasing total investment to 1 billion USD, in accordance with the pledge made at a meeting with Prime Minister Pham Minh Chinh in May 2025.
Both sides also agreed to push forward with cooperation agreements in food security, financial centres and the development of Halal industrial parks.
Later the same day, Hang met with Sheikh Faisal Abdullah Al Rawas, Chairman of the Oman Chamber of Commerce and Industry (OCCI). The two sides discussed the potential for economic, trade and investment cooperation, and agreed to implement concrete measures to boost ties.
Al Rawas praised Vietnam’s attractiveness as an investment destination, stressing that it appealed not only to Omani businesses but also to partners from across the Middle East and beyond. He said Vietnam is recognised not only for its robust economic growth but also for its people, culture and resilient history, and is now entering a new phase of development as a hub for innovation.
Hang reaffirmed Vietnam’s readiness to work closely with relevant agencies in both countries, particularly the Vietnam Chamber of Commerce and Industry (VCCI), to strengthen connections between business communities and investors. She reiterated Vietnam’s desire to expand multifaceted cooperation with Oman, particularly in the fields of economy, investment, oil and gas, and agriculture.
Hang called on the OCCI to step up outreach to Omani investors and enterprises, as well as partners in other countries, to promote opportunities for economic, trade and investment cooperation with Vietnam.
She also encouraged the OCCI and VCCI to expand their cooperation portfolio into areas such as innovation, creativity and artificial intelligence, while strengthening coordination to soon arrange business delegations from Oman to Vietnam and vice versa, particularly on the occasion of international fairs and exhibitions in both countries. Such efforts are expected to contribute to elevating Vietnam–Oman relations to new heights./.
