Kuwait City. — Photo : vinafrimideast.com

HCM CITY (Biz Hub) — Trade relations between Kuwait and Viet Nam have made satisfying progress, the Consulateof Kuwait in HCM City said in a statement released for the 54th anniversary of its independence day today.

Trade exchange value between the two countries reached US$691 million in 2014. Viet Nam's exports to Kuwait in 2014 grew twice as much as the previous year, according to figures from the Viet Nam Customs Bureau.

Omar Al-Qenaei, Consul General of Kuwait in HCM City, invited Vietnamese companies to make investments in a mega-development plan approved by the Government of Kuwait. The plan comprises 1,100 projects worth a total of $107.8 billion. It includes the creation of Silk City, a commercial hub and free trade zone with the capacity for 700,000 residents.

Kuwait and Viet Nam established diplomatic relations in 1976.— VNS