Saudi–Vietnamese Business Council
The Saudi–Vietnamese Business Council is the official link for commercial and economic exchange between institutions and companies in the Kingdom of Saudi Arabia and the Socialist Republic of Vietnam.
The SVBC and the other business councils operate under the umbrella of the Federation of Saudi Chambers (FSC), within a regulatory framework approved by the Ministry of Commerce, and supervised by the General Authority of Foreign Trade (GAFT), since the Council is one of the Kingdom’s broader efforts to enhance the mutual benefits, sustainable, and organized partnership around the world.
Foundation:
The Saudi-Vietnamese Business Council (SVBC) was established in 2020. The Council was formed through an agreement between the Saudi-Vietnamese Business Council and the Federation of Saudi Chambers by creating an official bilateral business mechanism that promotes trade, investment, and industrial cooperation in order to enhance international trade, attract investment, and strengthen economic collaboration.
Today, the Saudi-Vietnamese Business Council consists of a large number of members, including leading investors, businesspeople, and industrial figures from key sectors of the national economy. Through high-level forums, business delegations, and partnership programs, the Council actively facilitates dialogue, market access, and investment cooperation between the Kingdom of Saudi Arabia and Vietnam.
Objectives and Vision:
The Saudi-Vietnamese Business Council (SVBC) aims to strengthen and develop relations in various economic fields between the business communities of the Kingdom of Saudi Arabia and the Socialist Republic of Vietnam. Among its key objectives are:
- Creating a favorable economic environment to help the business community play its role in various economic activities inside and outside the Kingdom.
- Addressing the issues faced by businesspeople with government bodies and various institutions through constructive dialogue aimed at achieving the public interest.
- Presenting the visions and ideas of businesspeople to government officials ,so they can play a positive role in contributing to the implementation of the Kingdom’s economic policies.
- Supporting free-market economic policies and strengthening the role of Saudi investors in the Kingdom’s social development plans.
- Promoting trade and investment exchange with foreign countries (with the Socialist Republic of Vietnam as a model) through strong relationships with business communities overseas.
- Providing advisory, technical, and legislative services to members in support of their economic activities.
