With an additional cost of over nearly $16.4 million, the project will cost a total investment of over $55.3 billion from the city budget.

This is the first time a Vietnamese enterprise has been licensed to establish a regional office in Saudi Arabia.

The project, approved in 2020, was originally intended to cover 17 ha and accommodate 3,500 residents.

Site clearance reaching 98% by the end of October.

The Vietnamese Government leader acknowledged the need for further development in economic, trade, and investment ties.

At the 8th Edition of the Future Investment Initiative taking place in Saudi Arabia from October 29-31, PM Pham Minh Chinh highlighted the event as an excellent opportunity to exchange views and propose initiatives for investment cooperation.