Saudi Arabia’s oil giant Aramco expresses investment interest in Viet Nam

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Saudi Aramco, one of the world’s largest integrated energy and chemicals companies, has expressed investment interest in Viet Nam.

Viet Nam is a potential and important market in the region, said Aramco President and CEO Amin Al-Nasser during his meeting with Vietnamese Prime Minister Pham Minh Chinh in Riyadh on October 29.

Prime Minister Pham Minh Chinh (R) meets with President and CEO of Aramco Amin Al-Nasser in Riyadh, October 29, 2024

Nasser said Aramco will continue active negotiations with Viet Nam Oil and Gas Group (PVN) to explore investment opportunities in the Southeast Asian nation.

Prime Minister Pham, who is now in Riyadh to attend the 8th Future Investment Initiative Conference, welcomed Aramco’s investment plan in Viet Nam, firstly in oil trade.

Pham called on the oil giant to work with the PVN to jointly carry out concrete projects, especially in the field of oil refinery, storage and distribution in Viet Nam and beyond.

He pledged to create favorable ways for foreign investors, including Aramco and other Saudi Arabian enterprises, to invest and do business efficiently and sustainably.

Starting with just a small group of intrepid explorers, Aramco’s history goes back to the early 1930s and the sands of the Saudi Arabian desert.

In 2024, Aramco marks its ninety-first year of exploration, discovery, and innovation stemming from our long-term role as caretakers of Saudi Arabia’s vast hydrocarbon resources.

Aramco manages Saudi Arabia’s unique hydrocarbon reserves base, optimizing production and increasing long-term value.

Last year, Aramco reported total revenue of nearly US$500 billion