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Kuwaiti chamber says huge Vietnam refinery to propel private sector

KUWAIT, A USD-9.2-billion Kuwaiti-built oil refinery in Vietnam will provide the Gulf state’s private sector with new opportunities to explore diverse development projects, the Kuwaiti Chamber of Commerce and Industry said on Monday.

Ties between Kuwait and Vietnam have made tremendous progress in recent years, especially after the construction of the Nghi Son refinery, Osama Al-Nisf, a member of the Kuwait Chamber of Commerce and Industry, said amid a Kuwaiti-Vietnamese economic forum.

He noted that the event would help familiarize Kuwaiti investors with business opportunities available in Vietnam, particularly in the sprawling city of Ho Chi Minh.

The city’s mayor Nguyen Thanh Phong, who was in attendance at the forum, said that Vietnam is eager to pursue more endeavors with Kuwait, which can only be instrumental in bringing both nations closer together.

The huge refinery, co-owned by Kuwait Petroleum Europe BV and Japanese firms Idemitsu Kosan and Mitsui Chemicals, is designed to help Vietnam cope with a dearth of refined oil products.

Source: Kuwait News Agency