HANOI — The Saudi Fund for Development (SFD) has highlighted Saudi Arabia's development efforts in Vietnam and the countries around the world. This has been highlighted during an event organized by Saudi Arabia's embassy in Vietnam under the title of "Transforming challenges into opportunities. A look at the SFD in Vietnam and around the world". The event witnessed the participation of SFD CEO Sultan Bin Abdulrahman Al-Marshad to shed light on the Kingdom's development efforts in the world and Vietnam in particular. The event also witnessed the presence of Saudi Arabia's Ambassador to Vietnam Mohammed Dahlawi, a number of Vietnamese officials, in addition to international agencies and organizations. The Vietnamese Deputy Minister of Planning and Investment Tran Quoc Phuong thanked the Saudi embassy for holding this event that contributes to joint cooperation and aims towards prosperous and sustainable development. He also praised what the Kingdom's government provided through SFD in Vietnam to support infrastructure projects, in addition to the positive impacts resulting from these contributions. In turn, the CEO of SFD stated that the Fund has a close development relationship with Vietnam, confirming that the development programs and projects that are funded by SFD in the country come within the contributions that would achieve economic growth and prosperity. He added "These projects were concentrated in vital sectors that had a positive impact on the lives of the Vietnamese people," From his side, the Saudi ambassador clarified that the Fund contributions represent Saudi Arabia's keenness and care in developing the social infrastructure and the economic growth in Vietnam. He noted that the SFD's projects around the world have had a significant impact over the past 5 decades. These projects have influenced economic growth, social progress, and the advancement of societies in various parts of the world, which embodies the values of international cooperation and solidarity. It is noteworthy that the SFD participated in the event with two pavilions to introduce the activities of the Fund in Vietnam and the countries around the world. The Fund's cumulative support reaches more than 800 projects and development programs in more than 100 developing countries since its establishment in 1974, bringing the value of those projects provided by SFD to about $20 billion. As for Vietnam, it is considered as one of the countries that have benefited on the Asian continent from the activity of the SFD since 2011. The Saudi Fund's support for Vietnam reached 12 development projects and programs in various development sectors, including transportation and social infrastructure, while the value of the soft loans provided by the Fund for these projects amounts to more than $164 million.
