Nguyen Duc Thang, Vietnam’s ambassador to Kuwait, announced a target to increase bilateral trade with the Gulf state to $12 billion by 2030 while speaking at an embassy reception. The gathering commemorated both the 50th anniversary of diplomatic ties established in 1976 and Vietnam’s 81st National Day, with attendees including Deputy Foreign Minister Sheikh Hamad Suleiman Al-Mishaan, diplomats, government officials, business representatives and members of the Vietnamese community. Thang pointed to the upgrade of relations to a strategic partnership during the Vietnamese prime minister’s visit to Kuwait in November 2025 as providing fresh momentum for expanded cooperation.
According to the ambassador, Kuwait ranks as Vietnam’s largest trading partner in the Middle East and Africa, with two-way commerce holding steady between $7 billion and $7.5 billion annually over the past three years. Vietnamese trade records place the 2024 figure at a record $7.3 billion, the highest with any Middle Eastern nation. Thang noted that Kuwait also leads Middle Eastern investment in Vietnam, with stakes exceeding $3.5 billion focused primarily on the Nghi Son Refinery and Petrochemical Complex in Thanh Hoa province.
The ambassador identified energy, food security, digital transformation, finance, logistics, education and tourism as sectors offering substantial scope for closer collaboration en route to the trade target. A Vietnamese government review of the 2025 strategic partnership framework indicated that the upgraded status creates a platform for diversifying economic links beyond the current base. Thang added that both sides continue to explore avenues in petrochemicals, renewable energy and emerging technologies under the new arrangement.
According to national economic data cited by the ambassador, Vietnam achieved GDP growth of 8.02 percent in 2025 and aims for double-digit expansion in coming years while projecting total international trade above $1.1 trillion in 2026. The diplomat recalled that Kuwait provided support to Vietnam during its post-war reconstruction, laying groundwork for the current depth of ties. Thang described the relationship as rooted in mutual trust and concrete actions accumulated across five decades of engagement.
Vietnamese officials have proposed that Kuwait advance negotiations on a free trade agreement with the Gulf Cooperation Council and consider a bilateral comprehensive economic partnership agreement to underpin the $12 billion objective. The ambassador highlighted the Nghi Son project as a flagship venture demonstrating shared benefits in energy security that could serve as a model for future investments. Kuwaiti participants at the reception acknowledged the progress and expressed readiness to build on existing investment and trade flows.
Thang stated that Vietnam stands prepared to increase exports of agricultural products, electronics, textiles and consumer goods to the Kuwaiti market while welcoming further Kuwaiti capital into infrastructure and technology areas. Data from the period since the strategic partnership agreement show sustained interest in logistics and food security initiatives that align with both nations’ priorities. The ambassador reiterated that ongoing high-level coordination will remain essential to achieving the outlined trade expansion by 2030.
