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Prince Alwaleed Receives Deputy Speaker of the National Assembly of Vietnam to Discuss Economic issues

February 16, 2011

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC) received at his office in Riyadh, HE Mr. Nguyen Duc Kien, Deputy Speaker of the National Assembly of Vietnam who was accompanied by a business delegation. The meeting was attended by Dr. Nahla Alanbar, Private Executive Assistant to HRH the Chairman and Mr. Fahad Alofy Executive Assistant to HRH the Chairman.

The meeting began as Mr. Kien thanked the Prince for giving him the opportunity to meet with him. The discussions during the meetings revolved around economic and investment issues. In addition, on the agenda of discussions was the donation made by His Highness through Alwaleed Bin Talal Foundation to the families affected by the Typhoon that hit Vietnam.

Recently, HRH was awarded the Medal of Friendship by HE Mr. Nguyen Minh Triet, President of Vietnam. The President awarded Prince Alwaleed during a ceremony held at the presidential palace in Hanoi during the Prince’s trip to Vietnam in the presence of HH Princess Ameerah Al-Taweel, Vice Chairwoman of the Board of Trustees of Alwaleed Bin Talal Foundation.

During the trip the Prince also met with HE Mr. Nguyen Tan Dung, the Prime Minister of Vietnam and HE Mr. Pham Gia Khiem, Deputy PM and the Minister of Foreign Affairs of Vietnam.

In 2010, HRH received at his office in Riyadh, Vietnamese Deputy Minister of Foreign Affairs, His Excellency Mr. Doan Xuan Hung who was accompanied by Vice Minister of Labor Mr. Ngyen Thanh Hoa and a delegation, and HE Mr. Saleh Al Sahran the Saudi Arabian Ambassador to Vietnam.

In 2009, Alwaleed Bin Talal Foundation, made an immediate donation for the much needed food aid for the flood and landslide victims of Vietnam.

The Prince announced his readiness to donate to Vietnam through the foundation during a meeting with HE Mr. Dao Thanh Chyng the Ambassador of Vietnam to Saudi Arabia. During the meeting the Prince also conveyed his condolences to the government and people of Vietnam.

The allocation and distribution of the donation to those in need, is in coordination with the Vietnamese government and the Saudi Embassy in Vietnam. HRH’s donation is helping provide food and drinking water for thousands of victims affected by this disaster. The floods in Vietnam submerged houses and triggered landslides affecting hundreds of people.

The Prince had visited Vietnam in 2007 and was received warmly by the government and people of Vietnam and by H.E. Madam Truong My Hoa, Vice President of Vietnam and met with HE Mr. Nguyen tan Dung, the Prime Minister of Vietnam. The Prince and the PM discussed a number of social and economic issues relating to their respective countries.

HRH’s investments in Vietnam through Kingdom Holding Company, in the financial sector is through Citigroup that has had a presence in Vietnam since 1993 with two branches in Hanoi and Ho Chi Minh City. Moreover, investment in hotels through Kingdom Holding via their management companies includes a Four Seasons Resort on Cham Island that is currently under development, Movenpick Hotel Saigon on the island of Ho Chi Minh and Mövenpick Hotel Hanoi.