KUWAIT, April 10 (KUNA) -- Kuwait-Vietnam trade exchange amounted to USD 500 million in 2017, a Kuwait Chamber of Commerce and Industry (KCCI) member said Tuesday.
Speaking to reporters on the sidelines of a meeting with a visiting Vietnamese delegation, Fahad Al-Joan said both sides are willing to promote and develop bilateral economic and trade relations.
He pointed to a Kuwaiti oil project in Vietnam as a positive and encouraging beginning for this Gulf country's investment there.
There are agreements between both countries for the future expansion of Kuwait's direct investment in Vietnam, thus contributing to bolstering the sharing of technical and educational experience, he added.
He spoke highly as "promising" of investment in Vietnam in several sectors, primarily industry, agriculture and tourism.
Pointing to oil investments, he said Kuwait has 150 fuel stations in Vietnam, a figure which is predicted to hit 300 in the future.
On his part, Kuwait Petroleum International (KPI) CEO's Representative Ahmad Al-Qattan said Vietnam Refinery would begin operation on May 11, estimating the cost at USD 9 billion.
The refinery is one of the largest external projects launched by the Kuwaiti oil sector, he boasted, expecting it to result in a further promotion of bilateral investment relations.
The refinery's production capacity is estimated at 200,000 barrels per day, he said, noting a plan to boost it to 400,000 per day in the future. A Vietnamese delegation, headed by the Governor of Tanhua province Tran Van Xian, is visiting Kuwait. (end) fnk.amh.mt