Saudi Arabia Signs $30.94M Loans to Transport Projects in Vietnam

The government of Saudi Arabia on Oct 9 signed a deal to lend $30.94 million to the Vietnamese government to help it carry out two road projects in Vietnam’s central provinces of Phu Yen and Quang Tri, state media reported. The agreement was signed by Saudi Arabia Finance Minister Ibrahim Abudulaziz Al-assaf and his Vietnamese counterpart Vuong Dinh Hue in Hanoi on Oct 9. Of the sum, $16 million will go to a road linking Thach Kim with Hien Hoa in Quang Tri province and the remainder to another connecting Xuan Phuoc and Phu Hai commune in Phu Yen province. Earlier, Vietnam and Saudi Arabia signed two agreements on $25.5 million worth of loans to provide medical equipment for a general hospital and a health center in the northern mountainous province of Bac Kan and equipment for a vocational training center in central Ninh Thuan province. Saudi Arabia has so far provided loans worth SAR213 million ($56.8 million) through the fund for four projects in Vietnam. (Phap luat TPHCM – HCM City Law Oct 10 p2, Hanoi Moi – New Hanoi Oct 10 p1, http://news.gov.vn Oct 9)