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Prince Alwaleed Receives Vietnamese Ambassador to Discuss Investment Issues

March 6, 2011

HRH Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, Chairman of Kingdom Holding Company (KHC), received at his office, HE Mr. Dao Thanh Chyng Vietnamese ambassador to Saudi Arabia, who was accompanied by Mr. Tran Tam Anh, Attache, Embassy of Vietnam and Mr. Ngyen Taua chairman of Board of Directors Saonam Group. The meeting was also 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 the ambassador thanked the Prince for giving him the opportunity to meet with him. The ambassador presented Prince Alwaleed with a letter to Prince Alwaleed’s spouse HH Princess Ameerah Al-Taweel Vice Chairwomen of Alwaleed Bin Talal Foundation that is chaired by HRH from HE Ms. Nguyen Thi Kim Ngan Minister of Labour, Individuals & Social Affairs expressing her deep gratitude to HRH support to Vietnamese children who are facing difficult situations. During the meeting His Highness and the ambassador discussed Investment, economic, social and global issues. The ambassador expressed his government’s desire in attracting the Prince’s investments in his country and invited him to re-visit the country. In response, HRH thanked the ambassador also promised to visit Vietnam in the near future

In July 2010, Prince Alwaleed received Vietnamese Deputy Minister of Foreign Affairs, His Excellency Mr. Doan Xuan Hung who was accompanied by Vice Minister of Labor Mr Ngyen Thanh Hoa, Mr. Tran Tam Anh, Attache, Embassy of Vietnam and Saudi ambassador to Vietnam Mr. Salah Alsarhan.

In October, 2009, Alwaleed Bin Talal Foundation, Chaired by Prince Alwaleed, 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 includes a Four Seasons hotel on an island off Da Nang that is currently under construction, Raffles Da Nang that will open in the near future, Movenpick Hotel Saigon on the island of Ho Chi Minh. Furthermore, Mövenpick Hotel Hanoi is a hotel investment through Kingdom Hotel Investments (KHI) that is Chaired by Prince Alwaleed.