Southeast Asia Information Port (www.dnyxxg.com) – On June 24, 2024, the Spinneys supermarket chain (UAE) opened its first supermarket in Riyadh, Saudi Arabia. Vietnamese Ambassador to Saudi Arabia Dang Xuan Dung and other representatives attended the opening ceremony.
At the opening ceremony, a variety of Vietnamese products, including cosmetics, fresh fruit, and aquatic products, were added to the shelves, with red and yellow dragon fruit making their debut in the Saudi market.
Spinneys CEO Sunil Kumar stated that the company plans to open three more supermarkets in Riyadh and Jeddah this year and at least four new supermarkets annually in Saudi Arabia over the next five to ten years. Currently, Spinneys has over 150 stores in the UAE and five Spinneys and Al Fair stores in Oman. Spinneys plans to establish a sourcing representative office in Vietnam, which will provide a great opportunity for Vietnamese products to enter the market.
Vietnamese Ambassador to Saudi Arabia Dang Xuan Dung stated that Vietnamese export products, such as agricultural products, aquatic products, and canned beverages, have established a strong foothold in Saudi Arabia. Dang Xuan Dung reiterated that the Vietnamese Embassy in Saudi Arabia is willing to actively support Spinneys in connecting with Vietnamese exporters to strengthen bilateral cooperation.
In recent years, the Vietnamese Commercial Office in Saudi Arabia has actively supported Vietnamese businesses in establishing connections with local partners, contributing to increasing Vietnam's exports to Saudi Arabia.
According to statistics from the General Department of Customs, Vietnam's exports to Saudi Arabia reached US$615.3 million in the first five months of 2024, a year-on-year increase of 48.5%. Major products included rice, aquatic products, cashew nuts, pepper, timber, furniture, beverages, textiles and clothing, footwear, machinery, auto parts, electronic components, computers, and mobile phones. Vietnam's total imports from Saudi Arabia, including plastic materials, chemicals, and petroleum, amounted to US$549.7 million, a decrease of 16.1%. In the first five months of this year, Vietnam's total imports and exports with Saudi Arabia reached US$1.16 billion, a year-on-year increase of 9.2%. (End)
